Litorina Kapital III L.P. acquires Securia Systems AB, a leading Swedish growth company within security related services and insurance solutions. Securia offers customers protection and support in case of loss, theft and fraud of credit cards, mobile phones and keys. Following the acquisition, Litorina Kapital III L.P. will be the majority owner of Securia. The former owners will remain as minority shareholders.
Securia was founded in 1999 in Stockholm and the company offers security related services and insurance solutions mainly to private individuals and, to some extent, to small and medium sized companies. The service offering covers e.g. so-called blocking service, i.e. one telephone number for blocking all credit and debit cards, identity tags for returning lost or misplaced keys and mobile phones, and innovative insurance solutions.
Over the past two years, the company has shown approximately 90% sales growth. The market for Securia’s services has strong growth characteristics; underlying market drivers include increasing usage of non-cash payments, mobile phones and other electrical equipment and an increasingly positive consumer sentiment regarding safety and security.
Securia, with headquarter in Stockholm, has its main operations in Sweden, with greenfield operations in Norway and Finland. In addition, the company has joint ventures in Poland, Russia and Chile.
“Securia is a very well-run growth company with a strong position in an interesting market niche. The company has shown an impressive development with very strong profitability. Together with the company’s management we now look forward to take the company to the next level. The strategy is to achieve further growth through market expansion and further strengthening of Securia’s position in current markets”, says Jörgen Ekberg, Senior Partner at Litorina Capital Advisors, investment advisor to Litorina Kapital III L.P.
“With Litorina Kapital as a new owner, Securia will have a strong partner that shares our view on the company’s future strategy and that adds expertise and financial strength that can support Securia’s future growth. Together with Litorina Kapital, we are ideally positioned to further capitalize on Securia’s strong position in a growing underlying market and expand to new markets”, says Daniel Elfvendahl, CEO of Securia.
Litorina Kapital, founded in 1998, is a private equity firm that focuses on acquiring and industrially developing small to mid-sized companies in the Nordic region together with senior management. Litorina Kapital offers extensive, in-depth expertise through its own organization and through its network of industrial advisors. Litorina Capital Advisors AB acts as investment advisor to Litorina’s third fund, Litorina Kapital III L.P., which is investing now. Litorina Kapital is backed by well-recognized long term institutions that together have invested approximately SEK 2,000 million in Litorina Kapital’s three funds. For more information, please visit www.litorina.se.