#Finland #Oslo #Relais Group #Team Verksted #Nordic Market

Relais Group Expands Nordic Presence

On April 29, 2025, Relais Group Plc made a significant move in the Nordic commercial vehicle sector by acquiring Team Verksted Holding AS, a company based in Norway. This acquisition marks a pivotal moment as Relais Group solidifies its status as the largest operator of independent workshop chains for commercial vehicles across the Nordic region.

Details of the Acquisition

Relais Group has secured 100 percent of the shares of Team Verksted Holding AS, which was previously owned by Vy Buss AS, a company ultimately under the Norwegian Ministry of Transport. Team Verksted Holding comprises two key subsidiaries:
1. Team Verksted AS – a repair and maintenance chain for commercial vehicles, including trucks, buses, and trailers.
2. Lastvagnsdelar AS (LVD) – a wholesaler specializing in heavy spare parts.

With 21 owned workshops and three franchises operating under the Team Verksted brand across Norway, the company generated a consolidated revenue of approximately NOK 834 million in 2024, with Team Verksted alone contributing NOK 758 million. The acquisition not only boosts Relais Group’s revenue but also enhances its market footprint in the Nordic aftermarket industry.

Strategic Benefits

The integration of Team Verksted into Relais Group's portfolio significantly enhances its repair and maintenance network, bringing the total to 612 workshops across Finland, Norway, and Sweden. This expanded network provides Relais Group with a formidable value proposition aimed at fleet customers and transport operators throughout the Nordic region.

Financial Synergies

One of the key reasons for this acquisition is the potential for synergy, estimated at NOK 30 million annually. These synergies will predominantly arise from shared best practices, operational efficiencies within workshop management, cooperative purchasing, internal marketing, and cross-promotional opportunities across the integrated network. This strategic acquisition lays the groundwork for ongoing growth opportunities and market expansion in the commercial vehicle repair and maintenance sector.

Future Growth Prospects

Arni Ekholm, CEO of Relais Group, expressed optimism regarding the acquisition. He described it as a “transformative step” that complements another significant acquisition of Matro Group that took place earlier in April. Together, these moves are anticipated to add an impressive 9 million euros to Relais Group's annual IFRS EBITA, excluding potential synergies.

Jan Popov, Managing Director responsible for the Commercial Vehicle Repair and Maintenance sector, highlighted Team Verksted as a perfect cultural and operational match for Relais Group. He stated that this acquisition positions Relais to deliver exceptional service to diverse clients—from large fleet operators to independent businesses—across Norway, Sweden, and Finland.

Juan Garcia, Managing Director overseeing Relais Group's Technical Wholesale division, noted that the acquisition of LVD would not only augment their spare parts operations but also enhance distribution capacity across the Nordic countries. This integration will streamline operations, improve service delivery for commercial customers, and capitalize on existing synergies within the group.

Conclusion

The acquisition of Team Verksted Holding AS by Relais Group marks an exciting development in the Nordic commercial vehicle workshop landscape. With an enhanced capacity for service delivery, operational efficiencies, and growth potential, Relais Group is well-positioned to lead in the competitive commercial vehicle aftermarket. As the company continues to explore further opportunities in the market, it remains committed to creating long-term value and superior service for its clients across the region.

Relais Group operates as a consolidation and acquisition platform in the vehicle aftermarket, with an ongoing commitment to strategic growth. They recorded EUR 322.6 million in net sales for 2024, and the path forward appears promising with plans for continued targeted acquisitions to enhance their operational footprint and service offerings in the Nordics.