Atine Group Oy sells Turvatiimi to Norwegian Sector Alarm
Published: 14-Jan-2016 01:15 pm
Atine Group Oy has signed a contract to sell all of Turvatiimi’s shares to the Norwegian security provider Sector Alarm. Turvatiimi is a Finnish company providing security services and solutions nationwide. The estimated net sales of Turvatiimi for 2015 is EUR 35 million and it employs over 1 000 security professionals. The transaction has no impact on the company’s customers. Juha Murtopuro, CEO of Turvatiimi, will continue in his position.
Turvatiimi’s parent company and long-term owner Atine Group has been actively developing Turvatiimi. In the spring of 2015, Atine Group made an optional bid for all of Turvatiimi’s issued and outstanding shares that it didn’t already own for a price of EUR 0.13 per share. As a result of the bid, Atine Group assumed 100% ownership of Turvatiimi. In the current agreement, Sector Alarm will pay the identical price of EUR 0.13 per share.
The Sector Alarm Group is a Norwegian privately owned company offering security solutions to the residential and SME markets in Norway, Sweden and Ireland as well as security solutions to large enterprises in Sweden. Sector Alarm has experienced a strong growth both organically and through a number of acquisitions. Through the acquisition of Turvatiimi, Sector Alarm enters the Finnish market and continues to implement its strategy to consolidate the Scandinavian security services market. The estimated net sales of Sector Alarm for 2015 are EUR 300 million, and the company employs around 5 000 employees.
FOR ADDITIONAL INFORMATION
Atine Group Oy, CEO Ben Wrede tel. +358 40 510 5940
Turvatiimi Oy, CEO Juha Murtopuro, tel. +358 40 4141 007
Sector Alarm, CFO Eystein Lund, tel. +47 9060 2127