Safe Solutions is bought by private equity company Pamica
Safe Solutions is a Malmo-based company that has developed software that, together with an infrared camera can detect a potential burglar from the distance of several hundrer meters. Thermal sensor mounted on a 18 meter high pole rotates in an irregular pattern and scans the area of 300 meters 200 times within a minute.
“We can get an alarm long before anyone has entered the area and can call the police before anyone has even started cutting up a fence,” says company founder and CEO Magnus Frönserius.
Founded in 2010 by Magnus Frönserius, Safe Solutions has now a new owner in the form of private equity-investment company Pamica, writes DiDigital. Among the sellers are Safe Solutions early investor, tech profile Carl Silbersky who is also the company’s chairman. Since his first investment in Safe Solutions former CEO of Polar Rose has increased his profit 12 times. In 2016, Safe Solutions reported sales of 35 million and a profit of 14.8 million.
“In terms of profitability, it is one of the finest companies I have ever seen,” said Carl Silbersky.
The size of the deal was not disclosed, but a comparison to similar deals and companies suggests that Safe Solutions would be valued at between 170 million and 200 million SEK (17-20 mln euro).
“We see Safe Solutions and their service as a very interesting player in the security market. The service, which has a high technical content compared to traditional security companies, feels like a very good platform for continued growth when there is an ongoing movement toward more IT-built solutions across the security industry,” says Pamicas founder Jan-Olof Svensson.
Today Safe Solution’s technology monitors more than 2000 areas, including recycling centers, equipment rental businesses, livestock, truck centers, as well as gravel and rock quarries. With new owners, the sales are expected to scale up.