SecurityWorldMarket

13/10/2021

Confidence acquires AC Säkerhet Nord in Sweden

Stockholm, Sweden

Confidence has signed an agreement to acquire security company AC Säkerhet Nord AB (AC) based in Skellefteå, and specialising in modern integrated security systems, camera surveillance, burglar alarms and access systems in combination with other security products to companies and public organisations locally and in the region. The company has developed a profitable and growing business and created a local and regional position in Upper Norrland, with customers such as Skelleftebostäder, Skellefteå Kraft, Scandic and Boliden Mineral.

Company sales for the partial financial year 2020/21 to end of April, are quoted as approximately SEK 9 million with an EBITDA margin amounting to approximately 16 percent. The company will show growth of just over 30 percent at the beginning of the financial year 2021/22 and is expected to continue its strong profitable growth trend.

According to Confidence, the purchase price for the acquisition consists of SEK 4.3 million in cash at the time of acquisition, a settlement of approximately SEK 400 thousand one month after the acquisition and an additional purchase price that falls over a three-year period and is estimated to amount to SEK 900 thousand. The Group will be financing the acquisition with its own funds.

“The acquisition is a result of the Group's acquisition strategy following the acquisition of Nordic Level Group earlier this year. Through an established position in the growing market in Upper Norrland, we now have a springboard into this interesting market for all offering  wthin the group, which feels fantastic. AC will be part of the Technology Division in the Group, adding additional strength in the high-security and critical infrastructure segment, an important area to the Group, as well as adding a local presence and good customer contacts in one of Sweden's most important growth regions. ” says Thomas Lundin, President and CEO.

Mikael Petterson, Division Manager Technology, adds: “I am very impressed with Tony and his team and how they have built their customer base and presence in the region. We see that we have many common denominators, both in terms of competence and culture, and I look forward to our continued common development. ”

“I look forward to being part of the Confidence Group and to being able to take part in the resources, competence and breadth of the offer that is there. It will strengthen us locally here in Skellefteå and be valuable for our customers, ” says Tony Holmgren, CEO of AC Säkerhet Nord AB.


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