Zenitel generated revenues of more than 128 million euros in 2025 and has approximately 450 employees, serving more than 2,000 customers in over 115 countries globally. Zenitel has demonstrated profitable growth of more than 10 per cent per year over the last 5 years.

Critical communication solutions

Its intercom and public address and general/voice alarm (PAGA/PAVA) systems are used globally by customers in some of the world’s most critical environments.

In conjunction with the Detektor International Award 2026 ceremony at the Skydd security trade fair in Stockholm, Zenitel recently received the Innovative Achievement Award for its compact, all-in-one voice evacuation alarm platform, VAIA.

Koen Claerbout, CEO of Zenitel, said: “We are thrilled to partner with FSN Capital as we enter the next chapter of Zenitel’s journey. In FSN Capital, we have found a strong partner who shares our values and vision and brings invaluable operational expertise. Together, we will accelerate our growth plans, innovate faster and expand our reach to better serve our customers globally. As a management team, we are fully committed to leading this next phase alongside our new partner."

Impressed by the development

Ulrik Smith, Co-Managing Partner at FSN Capital Partners, investment advisor to FSN Capital VI, commented: “We have followed Zenitel for several years and are impressed by the company’s development under the leadership of Koen and 3d investors. We share the management team’s view not only on the strategic direction of the company going forward, but also on the values-based principles on which to achieve it. Combining management’s deep industry experience with FSN Capital’s track record of backing safety and security businesses, we are excited to work with the team at Zenitel, as we together embark on the next phase of its growth journey.”

More than four billion under management

Established in 1999, FSN Capital Partners is a Northern European private equity firm and investment advisor to the FSN Capital Funds. FSN Capital Partners has a team of more than 100 across Oslo, Stockholm, Copenhagen, and Munich. FSN Capital Funds have more than 4 billion euros under management and make control investments in growth-oriented Northern European companies.

In 2022, FSN Capital became the majority owner of the Swedish IAM-company Seriline.