NYAB AB has signed an agreement to divest its North American subsidiaries within the Dovre operations, Dovre Canada Limited and Dovre Group Inc. (USA), to Teal Recruitment, a Canada-based company providing specialized recruitment and workforce solutions. The buyer will acquire 100 percent of the shares in the entities to be divested. The divestment is a natural step in NYAB's strategic focus on its core operations and profitable growth.
The transaction has been agreed on market terms. The parties have agreed not to disclose the purchase price. The divestment is not financially material to NYAB and is expected to support the Group's margin profile, as the North American operations have been operating below the profitability level of other Consulting segment units. The operations to be divested had an unaudited estimated full-year revenue in a single-digit million-euro range in 2025. Closing is expected to take place during the first quarter of 2026.
The North American operations were originally acquired as part of NYAB's purchase of Dovre's consulting and project personnel business on January 2, 2025. The operations to be divested have limited strategic relevance and are not considered core to the Group's long-term strategic and financial priorities.
"Through the Dovre acquisition we established a presence in Norway, in line with our focus on the Nordic markets. Divesting the North American operations is a natural step to concentrate the business on markets where our position and potential for profitable growth are strongest," says Johan Larsson, CEO of NYAB.
For further information:
Johan Larsson, CEO, NYAB AB
johan.larsson@nyabgroup.com
+46 (0)70 182 50 70
Klas Rewelj, CFO, NYAB AB
klas.rewelj@nyabgroup.com
+46 (0)70 626 54 24
About NYAB
NYAB enables the progress of society for future generations with extensive experience from complex and challenging projects. We provide engineering, construction, and maintenance services within infrastructure, industrial construction, and energy. Our main markets are Sweden, Finland, and Norway. We have approximately 1100 employees, and our stock is listed on Nasdaq First North Premier Growth Market Sweden. The group is headquartered in Luleå, Sweden.
