By acquiring the Stella Safety Phone business unit, AddSecure enters into the growing telecare market and supports its ambitious growth strategy. Kaj Ignatjew, Business Unit Director, Stella Safety Phone and Stefan Albertsson, CEO of AddSecure have entered into an agreement.
AddSecure, a leading European provider of premium solutions for secure critical communications and data, announced today that it has entered into an agreement to acquire the Safety Phone business unit from Stella Kotipalvelut Oy. Closing of the transaction is expected by end of January 2020.
By acquiring the Stella Safety Phone business, the market leader in telecare services in Finland, AddSecure enters the market for smart care. This new vertical entry supports AddSecure’s strategic business expansion and European growth strategy.
“We are excited to bring the Safety Phone business into the AddSecure portfolio to complement our existing market offerings for Smart Alarms, Smart Rescue, Smart Transport and Smart Grids. Entering into the growing market for technology enabled care services is a logical next step to support our ambition and fits perfectly with our know-how of alarm transmission and rescue solutions,” said Stefan Albertsson, CEO of AddSecure.
The Stella Safety Phone business unit provides a certified alarm receiving center (ARC), safety phones and other related health technology solutions to its around 52 000 end-customers. Stella Safety Phone serves more than 200 municipalities and a number of private customers in Finland. End-customer segments include elderly and disabled people who want to live independently at home.
“During Stella’s ownership, the Safety Phone business has grown to become the market leader. We believe that AddSecure is the right owner to take the business to the next level and continue delivering highest quality service to its customers. The transaction will allow Stella to increase focus on its core homecare and cleaning businesses”, said Arjo Laukia, Board Member at Stella and Partner at Intera.
“In AddSecure, we have found an owner that will be able to help the Safety Phone business to continue to grow and evolve. We are confident our customers are in good hands, benefiting from a team of dedicated professionals and a company with a long history of providing secure critical communications solutions for life- and business-critical applications,” said Kaj Ignatjew, Business Unit Director, Stella Safety Phone.
The acquisition of the Stella Safety Phone business unit is AddSecure’s eleventh acquisition and its first investment within the digital care sector, backed by the new owners Castik.
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AddSecure is a leading European provider of premium solutions for secure critical communications and data. 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 450 staff in 12 countries. AddSecure is headquartered in Sweden and has regional offices as well as a network of distributors around Europe.
AddSecure is majority-owned by Castik Capital, a European private equity fund with a long-term approach to value creation, founded in 2014.
Castik Capital S.à r.l (“Castik”) manages investments in private equity. Castik is a European multistrategy 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.