Litorina Kapital creates a leading Scandinavian group within physical IT security – Coromatic joins forces with Metric Power and Scanpocon
Litorina Kapital becomes the majority owner of the new group, which is created through the acquisitions of Coromatic, Metric Power and Scanpocon. The newly established Coromatic Holding AB becomes the parent company of Scandinavia’s leading player within solutions, products and services for physical IT security, with a turnover exceeding SEK 550 million.
Fast growing Coromatic provides the Swedish market with tailor-made secure data room solutions. Coromatic offers experience and first class competence and solutions within physical IT security. The company has 70 employees and has during the past four years grown organically 30% p.a. to reach a turnover of SEK 325 million in 2007.
Metric Power and Scanpocon offer a comprehensive and leading range of power supply products and solutions in Norway, Denmark and Sweden. Metric Power and Scanpocon show solid growth and profitability, have around 60 employes and a combined turnover of approximately SEK 225 million, mainly on the Norwegian and Danish markets.
– The companies have already today successful businesses in Sweden, Norway and Denmark and a clear value-add within physical IT security. The group’s customer offering will continue to be to provide the market with strategies and complete solutions as well as service for physical IT security, including data room solutions and secure power supplies in a wide range of applications, says Maths Waxin, CEO of Coromatic AB, who will become the CEO of the newly established group.
– Maths Waxin and his management team have, with great skill and determination, built Coromatic to become the leading Swedish player within data room solutions, through a consistent focus on customer value and a high level of technology content. Together with Metric Power’s and Scanpocon’s first-class management teams and established market positions we intend to offer Coromatic’s concept also on the Norwegian and Danish markets. We also see great potential in Metric Power’s and Scanpocon’s existing businesses on all Scandinavian markets, says Paul Steene, partner at Litorina Capital Advisors, investment advisor to Litorina Kapital III.
The Chairman of Coromatic group will be Bo Kastensson, former CEO of the Bewator group.
– We see the potential in letting the companies join forces in a strong and dynamic group. Further we see significant potential for organic growth and for additional acquisitions. We are of the opinion that the group, with the support of strong growth, will be suitable for listing within a couple of years, says Bo Kastensson.
For further information, please contact:
Paul Steene (+46 8 545 181 80), Litorina Kapital
Bo Kastensson (+46 732 753805), Styrelseordförande
Maths Waxin (+46 8 564 605 90), Koncernchef
Litorina Kapital, founded in 1998, is a private equity company that focuses on acquiring and industrially developing small to medium-sized companies in the Nordic region along with their senior executives. Litorina Kapital offers broad and deep expertise via its own organization as well as through its network of industrial advisors. Litorina Capital Advisors AB acts as an investment advisor to Litorina’s third fund, Litorina Kapital III LP, which is currently in an active investment phase. Litorina Kapital is backed by a number of venerable and reputable Swedish and international institutions who have together invested approximately SEK 2,400 million in Litorina Kapital’s three funds. For more information please see www.litorina.se
Coromatic is a market leading company, specialized in continuity planning and physical IT security, which builds over 50 complete data rooms per year. Coromatic secures the continuity of the IT function, through strategy, solutions and service for physical IT-security. Coromatic´s turnover is estimated to SEK 325 milion in 2007 and the company has 70 employees. The company is headquartered in Bromma in Stockholm with branch offices in Gothenburg and Helsingborg. For more information see www.coromatic.se
Norska Metric AS, Danish Scanpocon A/S and Swedish Metric Power Systems AB are suppliers of products and systems within the area of uninterrupted power supply as well as specialised power supply solutions within a broad range of applications. The companies have a comprehensive and leading product range for specialised systems solutions for most industrial as well as IT applications. The companies had an estimated turnover of SEK 225 million in 2007 and 60 employees.
Metric AS has over the last 40 years built its brand in Norway that represents quality, knowhow and delivery precision. The company is headquartered in Oslo with branch offices in Bergen and Lillesand. For more information see www.metric.no
Scanpocon A/S has over the last 20 years built its brand in Denmark around specialised and quality solutions within applications that demands particularly high operational security. The company is headquartered in Odense. For more information seewww.scanpocon.dk
Metric Power Systems AB har has built its brand in Sweden based on products and solutions with integration to both IT and industrial systems, and a nationwide service organisation. The company is headquartered in Norrköping. For more information see www.metricpower.se