Swegon, a wholly owned business area within Investment AB Latour, has acquired Safegard Systems Ltd.
Safegard is the leading provider of intelligent smoke/fire damper control and monitoring systems in the United Kingdom and Ireland with a growing presence and future growth potential in international markets. Safegard's systems are used to contain/extract smoke within the ducted ventilation systems of commercial buildings such as hospitals, airports and multi-storey office blocks.
With headquarters in Dublin, Ireland, the company employs 24 staff with a turnover in 2016 of 8 MEUR. The company develops and assembles its products in Dublin and operates a direct sales model in the Irish market and utilizes distributors in other markets.
“Safegard is the most advanced and comprehensive fire & smoke control system supplier in Europe and will provide us with a highly attractive new product segment with several benefits both short term and long term, says Hannu Saastamoinen, CEO of Swegon. As a long-lasting co-operation partner to our newly acquired Swegon Air Management (former Ruskin Air Management), the acquisition will secure our leading position as a fire and smoke system supplier in the United Kingdom and Ireland and create a good platform and competence base for a more long-term development of Swegon’ s European fire & smoke business plan.”
“Safegard has for more than 20 years focused on the development of smoke and fire control systems. This long-term focus has enabled us to develop the market’s most reliable and advanced systems, suitable for any type of setting. With Swegon’s systems approach and their strength in the commercial ventilation landscape, we believe we have found the best home to continue our growth journey”, says Shaun Magill, Managing Director of Safegard.
Göteborg, February 13, 2017
Investment AB Latour (publ)
Jan Svensson, CEO
For further information please contact:
Hannu Saastamoinen, CEO Swegon, +46 31 89 58 10
Andreas Örje Wellstam, CFO Swegon +46 31 89 58 17
Swegon AB is a company in the Latour group and manufactures and sells products and solutions for ventilation and indoor climate systems. The Swegon company group has 2,100 employees and the turnover is SEK 4.1 billion.
Investment AB Latour is a mixed investment company consisting primarily of wholly-owned industrial operations and an investment portfolio of listed holdings in which Latour is the principal owner or one of the principal owners. The investment portfolio consists of ten substantial holdings with a market value of about SEK 43 billion. The wholly-owned industrial operations generated a turnover of approximately SEK 7 billion in 2015.