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Vehco pur­su­ing growth strat­egy with new own­ers AddSecure – acquires Groeneveld ICT Solutions

Press Release   •   Aug 24, 2018 12:00 GMT

Magnus Orrebrant, CEO of Vehco and Luc Lammens, CEO of Groeneveld ICT Solutions sealing the deal.

In May 2018, AddSecure acquired Vehco with the objective to grow Vehco both organically and through acquisitionsto become the leading Fleet Management provider in Europe to heavy commercial vehicles (HCV). Just three months after the signed deal the new owner supports Vehco in the company’s long-term growth strategy through the acquisition of Groeneveld ICT Solutions, the leading Dutch Fleet Management provider.

AddSecure-owned Fleet Management Systems provider Vehco, today announced that it has acquired Groeneveld ICT Solutions, a leading Dutch supplier of telematics and transport management software for a wide range of transport companies in Netherlands, Germany, Belgium, France, Spain and Poland.

When AddSecure stepped in as new owners in May this year, Vehco attained the financial strength to become the largest provider of systems for Fleet Management in Europe to heavy commercial vehicles (HCV). Only three months later, Vehco announces the strategic acquisition of Groeneveld ICT Solutions, which will accelerate growth, expand Vehco’s geographic footprint and strengthen the company’s overall competitiveness and services in Europe.

“AddSecure’s commitment allows us to continue to grow our business and best serve our customers. Groeneveld ICT Solutions has built a solid reputation when it comes to supplying leading edge Fleet Management Solutions and state-of-the-art ICT solutions, and will bring a strong customer base”, said Magnus Orrebrant, CEO of Vehco.

“We are delighted to support the continued development of Vehco. This acquisition is an integral part of the company’s extensive growth plans. By integrating Groeneveld ICT Solutions’operations in its own activities, Vehco is taking one step further of becoming the new European leader in Fleet Management”, said Stefan Albertsson, CEO of AddSecure.

For Groeneveld ICT Solutionsthis acquisition is an opportunity to join an expansive European provider, to support its growth and to benefit from Vehco’s innovation capabilities and expertise in the Internet of Things.

“We are thrilled to now become a part of an expansive European group within Fleet Management. Groeneveld ICT brings a large installed base that will benefit from Vehco’s innovation capabilities and expertise and we look forward to support the growth and work in the Vehco team”, said Luc Lammens, CEO of Groeneveld ICT Solutions.

In 2017, Groeneveld ICT Solutions’ revenue amounted to close to 13 million Euro and the company had 67 employees.

About AddSecure
AddSecure is a leading European player within secure critical communications. We provide over 50,000 customers and partners around Europe with secure communication solutions within monitored alarms and critical IoT communications. In total, we have delivered close to 400,000 connections and one million units.
Our solutions - which help save lives, protect property and secure vital societal functions - are flexible, easy to install and help increase our customers' competitiveness.
We currently work mainly in the following business areas; building security, building automation, energy and smart cities, as well as fleet management.
The company founded in the early 1970s today employs around 260 staff. AddSecure has its headquarters in Sweden and regional offices as well as a network of distributors around Europe.
Other companies in the AddSecure group are Chiron, a leading provider of advanced Alarms over IP (AoIP);Contal Security, a leading Swedish supplier of solutions for digital in- and outward alarm transmission and integrated security systems; Smart Grid Networks, a provider of smart solutions for power network automation and digital communication within the utilities sector; and Vehco, a leading European Fleet Management Systems specialist providing proprietary IoT solutions to a range of large and small customer HCV (Heavy Commercial Vehicles) and mixed fleets across Europe.AddSecure is owned by Abry Partners, an American private equity fund founded in 1989 and headquartered in Boston, USA. 
For more information, please visit www.addsecure.com.