PRESS RELEASE – October 25, 2022

It is now clear that SI is acquiring the well-regarded Setex and thus accelerating its journey to success in energy-optimized properties. Setex, with its base in Härnösand – and offices in Sollentuna – comes in with deep knowledge in property automation and energy-efficient properties.

– There is strong demand for solutions that create energy-efficient properties right now. We at SI were early adopters of creating platforms, web interfaces and new innovations to make entire property portfolios more energy-efficient – without sacrificing indoor comfort. Through the acquisition of Setex, we now have even greater opportunities to take on new energy projects both in Norrland and the Stockholm area, says Mikael Norlander, CEO of SI.

The new acquisition Setex has a number of successful collaborations behind it in northern Sweden and Stockholm. In Mälardalen, they work with K2A properties, which specializes in manufacturing energy-smart multi-storey wooden buildings.

– SI has just opened a new office in Stockholm and to now also have access to Setex's expertise in Mälardalen is of course fantastic, says Bjarne Johansson, Head of Technology & Development. We also recently acquired OSG, which is based in Tyresö. Their expertise in higher-level systems together with our other investments in Stockholm means that we now have a really strong offering to our rapidly growing customer base throughout the Stockholm area.

The real estate industry is currently undergoing major change with new and high demands on energy-smart solutions. Many property owners are currently looking for energy-efficient and digital solutions for visualization and control that save energy. Setex, which was founded in 2001, has had a strong focus on energy-smart control since its inception and together with SI they will now further strengthen their offering in long-term energy optimization and operation.

– We feel strengthened by now being part of the SI group. We have long been inspired by SI's way of working long-term with its customers. We have the same idea and values around this. That we owe it to our customers and the global climate to create energy-optimized properties as soon as possible, says Mats Svedin, CEO of Setex.

The acquisition of Setex will be completed on October 31, 2022.

Press photos can be downloaded here

Contact information

Mikael Norlander