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Horse pair Rolf Smedvig Hodne and Arne Incoronato buy the Roxel Infra company after the Roxel Group went bankrupt earlier this week.
Roxel Group went bankrupt a few days ago. Now it is clear that a duo of local investors is buying the bankrupt estate.
Pål Christensen
Published:,
Together, Smedvig Hodne and Incoronato form the company Inro AS. It is through this venture that the duo now purchase ownership of parent company Roxel Group, which went bankrupt earlier this week.
Will add new thoughts
A press release states that “Roxel Infra has now strengthened opportunities for
continuous investment in total technical deliveries and electrical contracts for tunnels and other infrastructures, especially in public transport “.
Roxel Infra AS was established in 2016.
– We see great potential in improving this business model, but above all it is people who matter. Good project managers and construction personnel, coupled with a professionally strong organization at Forus offices, is the reason we decided to invest in the company. In addition, we hope to add new thoughts and ideas that can complement today’s investment, ”says Arne Incoronato in the press release.
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230 million order book
Roxel Infra completed the three-year power contract for the Ryfast tunnel in Stavanger earlier this year and has since filled the order book with projects across the country. In addition, the company has projects in the Faroe Islands where there is currently also a separate operations office.
“As of September, the company has an order book of NOK 230 million and anticipates a high demand for new work both in new infrastructure projects and in pending maintenance work in the transport sector,” the press release further states.
– It’s good to see that we now have an agreement that I’m sure is the best for everyone. I’ve had a close dialogue with employees along the way, who have always been confident that there would be buyers in the field who would see the value in the employees’ competence and implementability. The change of ownership gives the company new strength and fresh money for further development. I look forward to the continuation, “says Board Chairman Sigve Sandvik.
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Rolf Smedvig Much
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More active Sandvik
He now joins as chairman of the job board to work even more closely with the current administration.
– The new owner has been very professional and has worked effectively to get to know the company and the model in a very short time. They have also behaved very neatly in the process of buying the company from the farm. As an active chair of the board, it was important to me to have someone who understands the business, secures jobs, sees the great potential in our employees, and is forward-thinking and strong. Now we can face the market as a solid and independent company, regardless of the situation of the other companies in the Roxel Group.
“With Inro as the new owner, General Manager Jan Forsell, other employees and I look forward to continuing collaboration with good customers and suppliers,” says Sandvik.
Following the acquisition, an IT company, Sirkel IT, will be established which will take over all IT services and services in the building.
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