GSGroup acquires Danish Care4all/Flextrack
GSGroup AS acquires 100% of the shares in Care4all ApS / Flextrack and strengthens the position as the European leader within advanced sensor technology and positioning services. Care4all ApS and its product division Flextrack, is headquarted in Esbjerg, Denmark, and generated a total revenue of approx. NOK 50 million in 2017.
– It is with honor and excitement we announce this acquisition. As Care4all / Flextrack now becomes part of GSGroup, our leading role in applied sensor technology is significantly strengthened. This transaction represents an important strategic step forward, enforcing GSGroups capacity to deliver advanced data capture solutions. Our focus will be to continue and reinforce what has made Care4all and Flextrack successful. The company has great relationships with its customers and partner network, and we will maintain and develop these further, states Espen Virik Ranvik, CEO of GSGroup.
The acquisition means Care4all gets access to an industrial strong owner- and leadership ready to develop the company into continued success. CEO and founder Jan Nørskov remains a part of the company and will play a key role in developing market leading solutions for our customers.
– The similarities between these two organizations are significant and the foundation for success becomes evident through our companies’ culture and values – a perfect match. Furthermore, GSGroup have the capacity to advance Care4all, secure existing relationships and provide our customers and partners with even broader perspectives. They will experience that we continue to develop and manufacture products of the same high standard and quality as always. Hence, I am very optimistic for the future, states Jan Nørskov.
Upon completion of the transaction, GSGroup will have close to 210 employees and expect a total revenue of approximately NOK 275 million (pro forma) in 2018. The company will continue executing its growth plans through strategic acquisitions combined with organic growth across all business areas.
GSGroup AS is a leading European supplier of services and systems for mobile data collection solutions. Our product portfolio currently consists of the brands Handyman, Smartday, Guard Systems, Spotguard, Paikannin.com and MyFleet. The headquarter is in Sandefjord, Norway, with a total of 13 offices across 9 countries. GSGroup offices can be found in Oslo, Stockholm, Gothenburg, Copenhagen, Tallinn, Riga, Vilnius, Dortmund, Hamburg, Budapest, Tampere and Vantaa. GSGroup complete another year of record high growth and sales passing €20mn in 2017.
Since the formation in 2003, Care4all has been at the forefront of innovation, bringing the newest tracking technology into the hands of our customers. Driven by the needs of a diverse customer base, the company have developed a unique and fully flexible tracking system, easy for everyone to operate. Whether the aim is to strengthen personal safety, protect valuables, fleet control or operations management, Care4all offer a strong portfolio of Lommy tracking devices and an open software solution, customizable to meet specific needs and add extra value. Offering a strong portfolio of innovative tracking devices, open source software and high-quality service, Care4all are able to meet multiple customer needs, across industries and sectors, all over the world.
Espen Virik Ranvik, CEO, GSGroup
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