TecSec
The technical security area is growing in line with the evolution of society towards increased care for people and protection of critical societal functions and equipment. The TecSec division focuses on businesses that contribute to this societal development and the assessment is that these needs are expected to continue increasing, which implies growth opportunities both organically and through acquisitions. Our ambition is to thereby contribute to a safer and more resilient society.
About the division
The TecSec division currently consists of 13 companies with operations mainly in Northern Europe but also with global exports to some extent. Most of the companies are leaders in their niche within technical security products, either with proprietary products or as a value-adding distributor or system integrator. The division’s underlying market growth is driven, among other things, by the desire for greater security in society and in the workplace, which increases the demand for preventive technical solutions.
The customer segment includes public authorities and specific critical societal functions, companies, logistics, nursing and healthcare, building and construction as well as offshore. The business is divided into three focus areas: Protection and safety & security solutions, Electronic security and surveillance, and Fire safety. Key technology areas are active and passive fire protection, mechanical protection such as locking devices, fences and security doors, safety & security solutions that prevent accidents and technical security systems for properties and infrastructure where digital systems and sensors are used to protect businesses and individuals.
The division’s goal is to achieve profitable organic growth of 5–10% per year over a business cycle, and to supplement this through add-on acquisitions to existing companies as well as new acquisitions. By continually developing the companies as well as strengthening and expanding their offerings, the companies’ competitiveness is ensured for long-term sustainable organic growth.
About the businesses
The companies in the division all have unique positions within their specific markets, Some of the businesses are described here below.
Since June 2022, the Group's largest company, Danish PcP Corporation, is part of the division. The company is a leading northern European manufacturer of innovative safety products based on gratings and other niche steel products. The company operates in 30 markets and has wholly-owned subsidiaries in Norway, Sweden, the Netherlands, Belgium, Germany and the United Kingdom. PcP has a turnover of nearly 600 MSEK with good profitability.
In the division, there are several companies specialised in security and surveillance. ISG Nordic is specialised in integrated security solutions for complex needs for monitoring, control and management within infrastructure, security and industry. COBS is a leading company in Sweden within alarm solutions, telephony and message handling systems for wireless communication, with security and safety in focus. STV is a leading provider in Sweden of systems for physical, digital and hybrid meetings for the modern office and business-related audio-visual systems. Idesco is market-leading in RFID solutions within access control. The flexible and cost-efficient systems are used in various kinds of access-, vehicle identification and logistics applications around the world. Danish ARAS Security A/S is a distributor and system developer specializing in combined access control systems and burglar alarms, smart buildings and digitalisation. The company's offerings are based on the open and modular NOX system, for which ARAS has exclusive distribution rights in the Nordic market. Together, the five companies within security and surveillance generate an annual revenue of approximately MSEK 450. Suomen Diesel Voima, SDV, is one of the newest members of the TecSec Divison. From its base in Finland they focus to serve the Nordic fire safety and protection market with their offering of solutions, services for generating sets and fire pumps as well as special projects working both with end-customers and partners. SDV has yearly turnover of more than 90 MSEK.
In July 2022, Lagercrantz Group acquired British company Door and Joinery Solutions, which manufactures high-quality and customised fire-resistant doors, screens, and frames. The products are largely sold through facility management companies and constructors and the company has a turnover of approximately 55 MSEK with good profitability. Fireco, a British company acquired in April 2023 with a turnover of approximately 90 MSEK is active in the Fire Safety market mainly in UK. The company focuses on fire door hardware with a complementary service portfolio, and they sell mainly through larger wholesalers and distributors but also directly to fire door manufacturers, nursing homes, schools, and hospitals.
CWL Group is a product leader within safety products for roofs and facades. While Sweden is the company’s main market, CWL Group is also pursuing international expansion in Europe and is currently established in both Norway and Poland. The company has shown stable growth during many years and has an annual revenue of approximately 240 MSEK.
The division’s most niche-focused business is Frictape, which is a world leader in safety equipment for helidecks. Landing and safety nets, so-called perimeter nets, as well as lighting are the most important products that provide safety on helidecks and ships at sea. The business generates annual revenue of approximately MSEK 55, has good profitability and significant worldwide exports.
In July 2024, Lagercrantz Group acquired British company Principal Doorsets, which manufactures high-quality and bespoke fire-certified doors. The products are largely sold to end customers within Healthcare and High End Residential. The company has a turnover of more than 125 MSEK with good profitability.
