LFV Holding AB, a subsidiary to Luftfartsverket (Air Navigation Services of Sweden), and Eltel Networks Infranet AB have signed an agreement regarding LFV’s acquisition of all shares in the company Eltel Networks Aviation & Security AB from Eltel. The company constitutes the sellers former business area Aviation & Security and provides technical operation, maintenance and support services to, inter alia, air traffic services.
LFV has on the basis of its sourcing strategy, the resumed total defence situation and the conditions stipulated in the new Security Protection Act made the assessment that the acquired business, today operated by the Eltel group as a subcontractor to LFV, should be conducted under LFV management. Since LFV is Eltel’s largest customer within the business area Aviation & Security, the parties have agreed on an acquisition of the entire business area to be the best and most efficient solution for all involved, including employees, customers and other stakeholders.
Eltel AB, listed on Nasdaq Stockholm, is a leading northern European supplier of technical services for critical infrastructure networks. In 2019, Eltel group’s business area Aviation & Security had about 200 employees and net sales of about 310 MSEK. The transaction is expected to close during Q2 2020 and is conditional upon, inter alia, the Swedish Competition Authority’s approval.
Lindahl acted as advisor to LFV Holding AB and Luftfartsverket. Lindahl’s team mainly consisted of Johan Herrström, Annika Brandt, Viktor Friberg and Ellen Frisk (Corporate Finance) and Eric Ericsson and Jakob Melander (Competition Law).