Accelerating growth in core markets: Heidelberg Materials expands footprint in Sweden and Norway by acquiring NCC’s Industry business area
Heidelberg, 7 October 2026 – Heidelberg Materials Nordics has entered into a binding agreement to acquire the Swedish and Norwegian aggregates and asphalt operations within the Industry business area of NCC AB, one of the leading construction companies in the Nordic region. The acquisition will complement Heidelberg Materials’ existing footprint in Sweden and Norway and will further strengthen its ability to capture growth opportunities driven by rising infrastructure demand across those core markets.
Headquartered in Stockholm, NCC’s Industry business area operates 106 aggregates sites with substantial reserves and 44 hot-mix asphalt plants in Sweden and Norway. The transaction reflects a total enterprise value of around SEK 5.5 billion on a cash and debt-free basis and implies a proforma EBITDA multiple below Heidelberg Materials’ own.
“This acquisition marks another decisive step in optimising our portfolio and further strengthening our business in the attractive Nordics region,” says Dr Dominik von Achten, Chairman of the Managing Board of Heidelberg Materials. “NCC’s strong and wide geographic network of aggregates and hot-mix asphalt sites complements our established presence in cement, aggregates, ready-mixed and precast concrete across Sweden and Norway. The acquisition underscores our commitment to a focused pure-play strategy, providing a strong foundation for continued growth and long-term value creation.”
“Our customers will benefit from a truly integrated offering. Besides adding high-quality asphalt to our expanding building materials portfolio, we are further strengthening our regional aggregates capacities,” says Jon Morrish, Member of the Managing Board of Heidelberg Materials and responsible for Europe. “With our extended footprint, we will be ideally positioned to grow our business as we serve rising infrastructure demand across Sweden and Norway.”
The transaction is subject to approval by the relevant authorities.
- About Heidelberg Materials
Heidelberg Materials is one of the world's largest integrated manufacturers of heavy building materials and solutions with leading market positions in cement, aggregates, and ready-mixed concrete. Around 49,000 employees in almost 50 countries shape our growth path. Drawing on our global advantage, we create synergies in the areas of sustainability, digitalisation, and technical excellence. As the industry’s front runner on the path to Net Zero, we enable our customers to lead the way towards a more sustainable future through our growing offering of low-carbon and circular building materials.