Episode #8

Installing the Nordics

Per Sjöstrand

Our guest today is Per Sjöstrand, the CEO and Co-Founder of Instalco, the leading industrial installation company in the Nordics. Born in a mining town 200KM north of the Arctic Circle, Per became independent and self-confident, walking through the mountains of Northern Sweden for weeks on end. After high school, he became a military airborne ranger before enrolling in Chalmers University of Technology in Gothenburg to study engineering. Recognizing his interest in construction and leadership, Per launched his career in the industry with global leader Skanska where he spent the next decade. Having quickly moved up the ranks and wanting to follow in his father’s footsteps, Per was given the opportunity to become CEO of a small family owned installation company, Midroc, then followed by private equity owned NEA Group. The owners were change resistant and heavy handed, giving Per the idea for a decentralized operating business. Before founding Instalco, he was asked to upgrade the major projects department within the Swedish Transportation Authority. Instantly recognizing the inherent difficulties of operating a bureaucracy, Per soon founded Instalco with the backing of FSN Capital in 2014. 100 acquisitions later, the group has a market value of nearly $3 billion and the stock has appreciated by almost 700% since listing in May of 2017. Per will relinquish the CEO role to current CFO Robin Boheman later this year, but he will continue to be heavily involved as Executive Chairman, planning to oversee geographic expansion into Denmark and eventually mainland Europe.

In this Episode

In this fascinating conversation, Per talks about his early years trekking through the Swedish mountains north of the Arctic Circle for weeks on end, his drive to be a leader or follow in his father’s footsteps as a CEO, how he got the idea to build a decentralized installation group and the enormous growth opportunities still ahead for Instalco. We dive deep into the group’s structure, how Instalco is leading the charge on ESG, and what has made Per most proud after completing 100 acquisitions and creating a business with a $3 billion market cap in just seven short years.