Litorina’s portfolio company Coromatic Group acquires 1992 NetWork
Coromatic Group acquires the system integrator and network specialist 1992 NetWork. Through the acquisition Coromatic Group establishes the new business area Communication.
Coromatic Group, the leading physical IT security group in the Nordic region, acquires 1992 Network, with main operations within network installations in data rooms. In addition 1992 Network offers active solutions such as switches and security products. Through the acquisition Coromatic Group broadens its offering within power, cooling, and communication. The owners of 1992 NetWork become shareholders in Coromatic Group through the transaction.
– Coromatic will now strengthen its knowledge and competence within networks and we become as strong in providing communication services as we are in total continuity issues, power and cooling, says Maths Waxin, CEO of Coromatic.
– Through becoming a part of Coromatic, we will together develop the group’s offering within networks. Coromatic and 1992 NetWork have had a close business relation during several years and it feels natural to now deepen the cooperation with Coromatic and unite our staff, says Niklas Lindqvist, CEO of 1992 NetWork.
For further information, please contact:
Paul Steene (+46 8 545 181 80), Litorina
Maths Waxin (+ 46 70 529 20 95), Coromatic Group
Niklas Lindqvist (+46 70 717 00 03), 1992 NetWork
Litorina, founded in 1998, is a private equity firm that focuses on acquiring and industrially developing small to medium-sized primarily Swedish companies. Litorina 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 is backed by a number of venerable and reputable Swedish and international institutions who have together invested approximately SEK 2,400 million in Litorina’s three funds. For more information please see www.litorina.se
Coromatic Group is a group of companies with a leading position in the Nordic region within physical IT security. The group offers complete data room solutions and products and services within UPS and power supply for a wide range of applications. Customers are found in most industries in Sweden, Norway and Denmark. The group was formed through the acquisitions of Coromatic, Metric Power and Scanpocon in 2007. Coromatic is the market leader in Sweden within data room solutions with over 50 data room projects completed in 2007. Metric Power and Scanpocon are leading players, primarily in Denmark and Norway, within UPS and power supply. The group had a combined turnover of ca SEK 550 million in 2007 and over the past four years the companies have shown a combined yearly growth of 25%. Coromatic Group is headquartered in Bromma outside of Stockholm.
1992 NetWork offers qualified services within network installations throughout Sweden. Through delivering high quality solutions within data- and telecommunication, 1992 Network can serve its customers’ complete communication need. 1992 NetWork also offers active products, such as switches, wireless and security products. Typical customer projects include installation of networks to enterprises, municipalities and schools.