Eldor joins Init as part of strategic plan
Eldor AS and Eldor UK Ltd are becoming part of the international Init Group and Init Norway AS. This is the next step of a growth plan for both the Eldor companies and Init.
Norwegian Eldor AS and Scottish Eldor UK Ltd were acquired on 4th of July by the international Init Group, a leading provider of industrial IT and automation services. Founded by Bernt Eldor and Jørund Sæten in 2006, Eldor specialises in control and safety systems, telecommunications and industrial IT.
“We have established ourselves as a major player in control and safety systems, with helping companies optimise their alarm systems being a particular strength,” says Børge Richard Kolstad, CEO of Eldor Holding. “We want to constantly evolve as a company. That’s why we’re happy to now be a part of Init. It marks a significant milestone for Eldor and is a key strategic step for us in terms of achieving our goal of future growth.”
The companies Kairos Technology and Blue Unit are not part of the acquisition and will remain under Eldor Holding.
Carrying on as before
Eldor is continuing its current activities, including all work and project methods. Additionally, the management team remains in place, with Gisle Ersdal and Carl Townsend responsible for management. There will also be no immediate changes to day-to-day operations, with Eldor's 35 employees in Norway and the UK, remaining in their respective locations in Stavanger and Aberdeen.
“We already have the right people and the right specialist skills in our company,” says Børge Richard Kolstad. “What we gain by joining Init is that we’re becoming part of a large international corporate structure, with a broad network and resources that can help us improve our services to existing customers and reach a wider market. Our combined expertise will undoubtedly bring new and innovative solutions to the energy sector.”
International cooperation
With the acquisition of Eldor, Init is boosting its offering to the energy industry while expanding its presence in Norway and Scotland. With Eldor joining the Group, Init now has approximately 690 employees across locations in Denmark, Sweden, Norway, North Macedonia, Serbia, Spain, Ireland and the UK.
“Eldor brings significant experience and specialist knowledge in control and safety systems, which complements our existing capabilities perfectly,” says Alexander Risøy, CEO of Init Norway. “We’re looking forward to working closely with Eldor's talented team to drive innovation and deliver exceptional value to our customers in the energy sector. We're proud to have them on board.”