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​AddSecure-owned Vehco appoints new CEO to strengthen operations and continue European expansion

Press release   •   Feb 28, 2019 07:55 GMT

Johan Frilund will assume the role as new CEO of Vehco on March 1, 2019.

Johan Frilund will assume the role on March 1, with main focus to position Vehco in the new connected ecosystem that emerges within the Transport and Logistics industry.

AddSecure-owned Fleet Management Systems provider Vehco, today announced that Johan Frilund has been appointed Chief Executive Officer effective March 1. Frilund has over 20 years of experience in the transport industry, including Board, CEO and Senior Management positions with among other Viscando Traffic Systems, Sensys Gatso Group, Cap Gemini and Kapsch TrafficCom.

When AddSecure stepped in as new owners in May 2018, Vehco attained the financial strength to
become the largest provider of systems for Fleet Management in Europe to heavy commercial vehicles (HCV). Since then Vehco has completed two acquisitions, Dutch Groeneveld ICT (recently re-branded Vehco) and Finnish Paetronics Oy, and further acquisitions are in the plan.

“Although Vehco has a strong position, it is important for us to take the next step in developing the company and accelerate growth; Johan is the right CEO to lead Vehco through this transformative
period. Not only does he have extensive industry experience, he also brings a proven track record of leading larger corporations and increasing growth. I am confident Johan will move the company forward with the speed required to capitalize on the opportunities in front of us”, said Stefan Albertsson, CEO of AddSecure.

On being appointed Johan Frilund stated: “I am thrilled to have been offered the opportunity to lead Vehco at such an important time in its development. I see my mission as consolidating the European FMS market and positioning Vehco in the new connected ecosystem that emerges within Transport and Logistics. The digital transformation with IoT, big data and predictive analytics holds the potential to radical changes in our industry. With Vehco’s smart and secure IoT solutions and data analytics capabilities we are well positioned to not only stay at the forefront of this change, but to continue to innovate and lead the market.”

Johan Frilund will be part of the AddSecure Management Team and report to CEO Stefan Albertsson.

About Vehco
Vehco, established in 2001, is a leading European provider of Fleet Management Systems (FMS), and part of AddSecure. The core business is to provide Fleet Management Systems for heavy and light commercial vehicles. Vehco serves over 1 200 customers and has offices in Sweden (HQ), Finland, Norway, Denmark, Germany, Netherlands, Belgium, France and Spain. Vehco markets and sells its products through a dedicated sales team and through partners in Europe and in North America. Vehco has 150 employees and a yearly revenueof 27M€. 

About AddSecure
AddSecure is a leading European player within secure critical communications. The company provides over 50,000 customers and partners around Europe with secure communication solutions within monitored alarms and critical IoT communications. In total, AddSecure has delivered close to 400,000 connections and one million units.
AddSecure provides solutions within the following segments; Smart Alarms, Smart Rescue, Smart Grids and Smart Transport. The solutions - which help save lives, protect property and secure vital societal functions - are flexible, easy to install and help increase customers' competitiveness. 
The company founded in the early 1970s today employs more than 300 staff. AddSecure has its headquarters in Sweden and regional offices as well as a network of distributors around Europe. AddSecure is owned by Abry Partners, an American private equity fund founded in 1989 and headquartered in Boston, USA.