PropTech Energy expands within the Stockholm region through the acquisition of Alova

PropTech Energy are pleased to announce the acquisition of Alova, a rapidly growing player in technical service and maintenance for properties. This strategic acquisition strengthens PropTech Energy’s presence in the Stockholm region and enhances the group’s capacity to offer high-quality technical solutions to property owners.

Alova has established itself as a leading player in the Stockholm region thanks to its high delivery quality and skilled team that ensures operational reliability and optimized performance for technical installations in both commercial and residential properties.

“The partnership with Alova marks an important milestone in PropTech Energy’s development and strengthens our offering in technical property services,” says Pierre Nyström, CEO of PropTech Energy. “Alova’s expertise and strong market position complement our existing operations, expanding both our geographical and technical offerings in the key Stockholm region, to the benefit of our customers.”

Alova’s current owners and management will continue to drive the development of the company and the brand. “We look forward to becoming part of PropTech Energy and together develop the business, customer offering, and all our employees,” says Björn Granqvist, CEO of Alova. “The partnership provides Alova and our employees with a reliable foundation to continue our journey and marks an opportunity to offer our customers a broader range of services in more locations.”

The acquisition of Alova is a significant step in PropTech Energy’s development and underscores our commitment to offering innovative and sustainable solutions within property services.

The acquisition is subject to regulatory review and is expected to be completed during the third quarter of 2024.