Powel acquires all shares of Elsmart AS to strengthen its position in the Nordic electric utility market.
In a comment, CEO Bård Benum stated: “We expect a growing activity level within maintenance and renewal of the grid, implementation of Smart Metering communications and meters in Norway, and a start to the development of the smart grid. By acquiring Elsmart with their portfolio of products, services, and expertise Powel will be able to offer solutions that simplify these work processes.”
Effective Web solutions
Elsmart offers standardized and efficient solutions for handling of messages and work orders between grid contractors and the utility, over a web based system. In addition, they deliver system solutions for large grid construction and maintenance contracts. The customer base, software and services of Elsmart will complement existing Powel products and services to this market.
“We are pleased that Powel selected Elsmart as part of their strategic investment and we believe Powel will be a strong and professional owner to carry our business forward”, says managing director of Elsmart Solutions AS, Mr. Steffen Syvertsen.
Elsmart AS will be merged into Powel but will continue their operations from their Grimstad office in south Norway.