Recently, INVIT completed the acquisition of a 100% stake in Austurverk, a company founded in 2014 by Stefán Halldórsson, Reynir Hrafn Stefánsson, and Steinþór Guðni Stefánsson. The company is located in Egilsstaðir and specializes in road construction, underground piping, snow removal, surface finishing, and other civil engineering works.
INVIT is a group of Icelandic infrastructure companies, with the primary role of uniting experienced Icelandic infrastructure companies under one umbrella. The aim is to solidify the expertise gained from major projects in Iceland and to make infrastructure investments in Iceland a safer option for investors.
INVIT's subsidiaries now include Grafa og Grjót, Steingarður, Austurverk, and Undirstaða. Additionally, equipment and employees were acquired from Snókur verktakar. The group now employs approximately 100 people, and its fleet has expanded significantly, now comprising around 100 vehicles such as excavators and trucks. INVIT is majority-owned by a private equity fund managed by Alfa Framtak.
Arctica Finance's Corporate Finance division acted as INVIT's advisor during the acquisition.
