GSGroup acquires 100% of the shares in Finnish PPCT Finland Oy
PPCT entered the marked with solutions for telematics tracking of objects in 2006 and has experienced a healthy development and organic growth since then. With 20 employees located in headquarter, Tampere and the sales office in Espoo and Turku, the company has become a leading player in the Finnish marked for telematics Fleet management solutions, within the service and transport branch. PPCT had a turnover of EUR 4 million in 2015. GSGroup is using different accounting principles than PPCT, and adjusted revenue is closer to EUR 2.5 million for 2015 based on GSGroup principle, and it is expected to be similar in 2016.
GSGroup finance the purchase with own funds and bank loan. There will be no need for an injection of equity.
“We have been in dialogue with the owner and founder of PPCT, Aarre Sillanpää during the past months. The process has been constructive and positive. We have a good impression of the management and the services PPCT offers. Aarre will continue as CEO of the company. PPCT has a solid customer base, with a good number of large customers with long-term perspectives. GSGroup acquires a portfolio of more than 600 customers, which will give a solid boost to our Finnish operations. The acquisition contributes to strengthen our leading positon in the Nordic.” Says Espen Virik Ranvik, constituted CEO of GSGroup.
“I am proud and satisfied with the journey I have experienced with PPCT. The company has been built, brick by brick. We have been successful at developing products and services in line with our customer’s preferences. Now PPCT is a leading player in the Finnish market. As part of GSGroup, with a broader product range and presence in the other Nordic countries, I am convinced that the business will continue to flourish.” Says Aarre Sillanpää, founder and CEO of PPCT.
GSGroup is a leading European provider of services and solutions for mobile data collection and the product range consists of the brands Handyman, Smartday, Guard Systems, Paikannin.com and MyFleet. The company was established in 1992 and have 150 employees. The head office is located in Sandefjord, with subsidiaries in 9 European countries. GSGroup has a strong focus on a complementary product mix and many of the company’s customers use services across the product range.
GSGroup has had a very good development in recent years and had a turnover in 2016 of 178 MNOK. In the last 20 years the company has had the same strong industrial owner (AS Atlantis Vest), which has invested in long-term development of the company and made the company the strong performer as it is today.
For more information:
Espen Virik Ranvik, CEO
Tel: : (+47) 33 48 28 00