Headquarter: Sweden
Revenue: +SEK 1,000m
Investment Date: September 2019
AddSecure: Leading European provider of premium IoT solutions with a focus on secure critical communications and data
More than 50,000 customers within the security and safety industry, rescue services, building security and automation, digital care, transport and logistics, utilities, smart cities, and more, safeguard their life and business-critical applications with solutions from AddSecure. This helps save lives, protect property and vital societal functions, and drives business.
The secure and reliable end-to-end solutions within the business units Smart Alarms, Smart Transport, Smart Surveillance and Smart Mobility, help make the world a safer and smarter place.
AddSecure is headquartered in Stockholm, Sweden, and has regional offices as well as a network of distributors around Europe.
>100k connected security units
>100k connected trucks
Fast growing exposure to various mission critical IoT communication verticals
Castik Funds partnered with key members of the management team and the previous owners of AddSecure to support the firm in its next phase of growth.
Management and Castik will continue to pursue an active consolidation strategy to enhance AddSecure’s position as a leading provider of alarms and telematics services in Europe as well as to further grow in other selected IoT and M2M communication service verticals.
- Recession resilient business
- Trend towards and increasing importance of M2M communications in all industries
- Fragmented M2M and IoT communication market with room for consolidation
- Market leading position of the alarms business in the Nordics
- Stable market dynamics in alarms supported by regulatory requirements
- High share of recurring revenue and revenue visibility
- High customer stickiness due to critical nature of the service offering, contracted revenues and high switching costs
- Strong underlying organic growth in the European telematics market