EFLA acquires a majority stake in HECLA SAS


EFLA office building

EFLA Consulting has acquired a majority stake in HECLA SAS, a French engineering company based in Paris, after the completion of EFLA 's acquisition of Landsvirkjun's holdings, through its subsidiary Landsvirkjun Power, and Jean Chauveau. EFLA now holds a 96.5% share of HECLA SAS, with two key executives holding 3.5%.

Acquisition of HECLA

Based in Paris, HECLA SAS specialises in preparing and designing energy transmission facilities. The company was formed when there were significant energy transmission projects in France due to extensive damage caused by bad weather. Founded by Línuhönnun and Afl, which later became EFLA, Landsvirkjun and Jean Chauveau, the company's founders, have served a leading role in its development.

The acquisition of HECLA is a part of EFLA's ongoing international growth in the field of energy transmission infrastructure. The company is a leader in this field in Iceland and the Nordic countries, with companies in Norway (EFLA AS) and Sweden (EFLA AB) as well as EFLA´s subsidiaries in Poland (ISPOL) and Germany (IPU Berlin).

In addition, EFLA has, over the years, completed significant projects in the field of energy transmission infrastructure worldwide. There will be great opportunities in this area in the coming decades due to necessary changes in the organisation of the world's energy affairs. EFLA has currently around 90 experts working internationally in energy transmission.

Highest evaluation in quality assessment

The build-out and development of France's energy transmission systems, related to the transition into green energy, are foreseen for the future, and HECLA is a valuable expert in this field. HECLA's largest customer is the French national grid operator RTE. HECLA leads the so-called HEI group, consisting of three companies with a framework agreement with RTE until 2025 with a possible extension.

The HEI group has the largest share of all participants in this framework agreement, which deals with the design, supervision, and project management of the construction of high voltage lines and earth cables in the energy transmission system throughout France. RTE recently published a supplier assessment where the HEI group and HECLA received the highest rating of all participants in the quality assessment.

New Management

Jean Chauveau will be stepping down as CEO of HECLA SAS after a successful career of over 20 years and taking the company to its current strong position. In addition, Landsvirkjun will depart from its role in HECLA, but Landsvirkjun has been an essential pillar in the company's development.

Christophe Baldet has been appointed the new CEO of HECLA, and Guy Joubert as Technical Director; both have been with HECLA for over 15 years. “We look forward to accelerating the company's strategy and growth. HECLA SAS and EFLA consist of highly talented and motivated teams and individuals, and we are in a great position to take advantage of the upcoming changes in energy affairs,” says Christophe Baldet.

EFLA would like to express gratitude to Landsvirkjun and the company's representatives in HECLA over the years, as well as to Jean Chauveau for a successful journey and for building a solid foundation for the future growth.