EQT, a northern European private equity group, has signed an agreement to acquire a majority stake in Bewator, the access control manufacturers.
EQT was created and is principally funded by Investor AB, the holding company of the Swedish Wallenberg Group, with major holdings in industrial corporations like SAAB, Electrolux, Ericsson and AstraZeneca. Bewator Group Management, with the previous principal shareholders, Rune Andersson, Chairman of Electrolux, and Bo Lundquist, will retain what is described as ?a considerable shareholding?. A future stock listing is anticipated.
About Bewator
Bewator distributes access control and video control products under the Bewator brand, and parking access under the Cale brand. The product range is from code-locks to integrated systems, with proprietary card reading technology. The Company has 45 development engineers in Sweden and UK. The group is headquartered in Solna, Sweden, with sales companies in UK, Belgium, Netherlands and Germany. With about 275 employees, group products are marketed via partners and distributors in 45 countries. Rune Andersson, who will retain above 25 per cent in the future Bewator via Mellby G†rd AB, says: “Since our acquisition of Bewator seven years ago, Bewator has multiplied its turnover by four within its core business. The new ownership structure will create superior financial conditions for continued powerful growth.?
