Vinci Energies signs acquisition deal
09 January 2023
Vinci Energies has expanded its operations in Norway, with the acquisition of construction engineering specialist Otera AS.
Otera, which is based in Grimstad in the southwest of the country, provides design, construction and maintenance services for electricity transmission and distribution networks, road infrastructures and tunnels.
Vinci’s acquisition of the company was recently agreed, for an undisclosed amount, with Otera’s parent companies Roadworks AS and Å Energi AS, and includes Otera’s subsidiaries Otera Infra, Otera Traftec and Otera Elektro.
According to Vinci, the addition of the company will make it a “major player in energy and transport infrastructure services in Norway”.
Vinci said, “This operation will enable VINCI Energies – through its Omexom brand – to strengthen and expand its offer and expertise in Norway, becoming one of the leading companies in the sector.”
With specialities in high and low voltage systems, automation and control-command services, Otera has an annual turnover of €250 million and currently generates revenues of around €150 million a year.
The acquisition will see all 600 of Otera’s employees become part of Vinci, bringing the total number of people employed by Vinci in Norway up to 1,100.