Castik Capital supports further growth of AddSecure
Funds advised by Castik Capital S.à r.l ("Castik") acquire the majority of AddSecure shares from Abry Partners. Castik is a European private equity firm with a long-term approach to value creation that will support the company's further growth.
STOCKHOLM, Sept. 26, 2019 /PRNewswire/ -- AddSecure, a leading European provider of premium solutions for secure data and critical communications, and Castik Capital, a European private equity firm, today announced that Castik has acquired AddSecure from Abry Partners. Castik becomes the new majority shareholder of AddSecure while Abry Partners will maintain a minority ownership position with AddSecure management also investing into the company.
The acquisition of AddSecure by Castik is a strong validation of AddSecure's clear vision, expansive growth strategy, and the company's development. Over the past three years, the company has tripled in size and is now present in 12 countries.
Castik Capital, known for pursuing profitable investments in high-quality and growing businesses, which are headquartered in Europe and led by strong management teams, recognizes the distinct opportunity AddSecure has to establish the company as the leading provider of secure data and communications in Europe and will strongly support the company's organic and acquisitive growth going forward.
"We are thrilled that AddSecure will be joining our family of portfolio companies and to have this opportunity to work closely with the company's management team. We are impressed by their journey and look forward to accelerating and promoting AddSecure's on-going success," said Michael Phillips, Partner at Castik Capital.
"This is an affirmation of strength for all of us who work at AddSecure. It feels very gratifying that Funds advised by Castik are making a significant investment in us, and in the strategy that we have put into place for 2025. Castik is a perfect fit as new owners, providing a stable, long-term foundation to enable us to further accelerate our efforts in innovation, growth and profitability," said Stefan Albertsson, CEO of AddSecure.
"That Abry Partners stays as a minority owner shows their continued confidence in AddSecure and our strategy. Abry has actively supported our ambitious growth agenda and helped us entering new markets," Albertsson continued.
"During Abry Partners' ownership, AddSecure has grown from a local Scandinavian alarm solutions provider to a European supplier of smart, connected IoT solutions targeted to alarms, rescue, utilities, transport, and logistics customers. The company has executed a successful M&A strategy to reach these verticals and has continued to strengthen its organization over our investment period. We look forward to working with the team and Castik on the next phase of AddSecure's journey," said Rob Nicewicz, Principal at Abry Partners.
With a mission to deliver value to its customers by securing their life- and business critical applications, AddSecure has built a comprehensive portfolio of secure solutions to serve organizations and teams within Smart Alarms, Smart Rescue, Smart Grids and Smart Transport.
Stefan Albertsson will remain the CEO of AddSecure. Financial terms of the transaction
were not disclosed.
For more information, please contact:
Stefan Albertsson, CEO, AddSecure
Mobile: +46 76 106 27 28, [email protected]
Kristina Grandin, Corporate Marketing Manager, AddSecure
Mobile: +46 70 689 52 08, [email protected]
For Abry: Chris Tofalli
Chris Tofalli Public Relations, LLC
914-834-4334
About Castik
Castik Capital S.à r.l ("Castik") manages investments in private equity. Castik is a European multi-strategy investment manager, acquiring significant ownership positions in European private and public companies, where long-term value can be generated through active partnerships with management teams. Founded in 2014, Castik is based in Luxembourg and focuses on identifying and developing investment opportunities across Europe. The advisor to Castik is Castik Capital Partners GmbH, based in Munich. Investments are made by the Luxembourg-based fund, EPIC I SLP, the first fund managed by Castik, which had its final fund close of EUR 1bn in July 2015.
About Abry Partners
Abry is one of the most experienced and successful sector-focused private equity investment firms in North America. Since their founding in 1989, the firm has completed over $82.0 billion of leveraged transactions and other private equity or preferred equity placements. Currently, the firm manages over $5.0 billion of capital across their active funds.
For more information on Abry, please visit www.abry.com.
About AddSecure
AddSecure is a leading European provider of premium solutions for secure data and critical communications. The company serves over 50,000 customers and partners around Europe with secure communications and solutions that help customers safeguard their life- and business-critical applications. This helps save lives, protect property and vital societal functions, and drive business.
AddSecure offers solutions within Smart Alarms, Smart Rescue, Smart Grids and Smart Transport.
The company founded in the early 1970s today employs more than 330 staff. AddSecure is headquartered in Sweden and has regional offices as well as a network of distributors around Europe.
AddSecure is owned by Abry Partners, an American private equity fund founded in 1989 and headquartered in Boston, USA.
SOURCE Abry
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