Netel was founded in 2000 and acquired by the Swedish construction and civil engineering company PEAB the same year. At the time, Netel was rapidly growing and established itself as a full-service specialist in services for fixed networks and mobile networks.

As a subsidiary to PEAB, Netel established itself as a prominent contractor in the telecommunications and data communications network market in Sweden. In 2001, Netel was the first company in the sector signing a framework agreement with a client to expand its Universal Mobile Telecommunications System (“UMTS“) network nationally.

In 2010, PEAB divested Netel to management. By the end of 2010, Netel employed 53 people in Sweden and Norway, and generated a revenue of SEK 297 million.

In 2013, Axcel, a Nordic private equity firm, acquired a majority stake in Netel providing the Company with additional resources to continue executing its growth plans.

Over the next few years, Netel expanded geographically,  broadened the service offering and strengthened its position as a leading provider of Nordic network services. During the years 2013-2015, Netel more than tripled its revenue from approximately SEK 457 million to approximately SEK 1,444 million through a combination of organic and inorganic growth, including six add-on acquisitions.

In 2016, IK Investment Partners reached an agreement to acquire Netel, driven by the potential for achieving continued growth of Netel’s operations in Northern Europe. At the time for the acquisition, the Company had approximately 340 employees. In recent years, Netel has shown stable growth in net revenue, order backlog and margin uplift. In addition to organic growth, the Company has also grown through several acquisitions, including the acquisitions of Nett-Tjenester, C-E Morberg, Oppunda Kraftkonsult, Brogrund and Svensk Elkraftsentreprenad.

Today, Netel Group Netel is a full-service specialist in Infrastructure Services in Sweden, Norway, Finland and Germany. The business is run decentralized, with a strong local presence via 18 offices and, as of 30 June 2021, had 610 employees. In 2020, Netel had revenues of SEK 1,847 million and pro forma revenues of SEK 2,303 million.

Going forward, Netel has the ambition to continue to grow and further diversify its operations through organic and inorganic initiatives.