Gunnebo sells Perimeter Security business
Gunnebo security group has signed an agreement to sell its Perimeter Protection business unit to Procuritas Capital Investors IV. Procuritas Capital Investors takes over 80% of the shares. Gunnebo remain with minor shareholding (10%) and some financing and 10% of the shares will be taken over by the Gunnebo Perimeter Protection management team.
The Perimeter Protection operations primarily entail the production and sale of, and projects relating to, high security products, gates, fencing, posts and related service in Germany, France, Sweden, Norway, Denmark, Finland and a number of export markets. The business area has 400 employees and annual net sales of approximately 70 million Euro. Gunnebo remain with minor shareholding and some financing.
"The sale of Perimeter Protection is in line with our strategy, which entails focusing and refining the Group's operations around the core business areas of Bank Security & Cash Handling, Entrance Control, Secure Storage and Services", says Gunnebo President and CEO Per Borgvall. "With Procuritas Capital Investors IV as the owner, Perimeter Protection will have the right foundation to further develop its business in line with its own clearly defined agenda."
The sale is expected to be finalised during the third quarter of 2011.
