RIYADH – Investcorp, a global provider and manager of alternative investment products, together with its portfolio company SecureLink Group NV, announced on Monday an agreement to acquire one of Scandinavia’s largest managed cyber security service providers, Coresec Systems AB.
Established in 2003, Coresec offers integrated cyber security solutions and managed services to corporates and institutions. With more than 250 employees across seven offices and multiple 24/7 manned Network & Security Operation Centres, Coresec’s security experts provide relevant security advice and hands-on assistance to its diverse client base across Scandinavia and the Netherlands.
Yasser Bajsair, Managing Director at Investcorp in the Kingdom of Saudi Arabia, said: “Our intention for SecureLink was always to create a cybersecurity specialist that was able to reach customers right across Europe. With the acquisition of Coresec, we believe we have made a significant stride forward in this regard. As well as having greater scale, which is demonstrated by the companies having combined revenues of €200 million, there is a real sense of unified culture, which I believe will be a major advantage for the company over the long-term.”
Marco Barkmeijer, Chief Executive Officer, SecureLink, added: “For me, it is a dream come true. We have known Coresec for years, have great chemistry with their team and share the same outlook on the cyber security market. The combined group enables us to further optimize our service offering to our clients and to deepen our relationships with our vendor partners. I have great admiration for Coresec’s CEO, Johan Andersson, and look forward to working with him and his team to leverage SecureLink and Coresec’s respective strengths as we continue our European growth.”
Over the last 12 months, Investcorp’s European Corporate Investment team has witnessed its most active investment period in the firm’s 30-year history, having signed four new deals and successfully exiting eight European portfolio companies. Specifically, Coresec marks Investcorp’s second acquisition in Scandinavia in less than a year, having previously acquired Swedish POC, a revolutionary manufacturer of skiing and cycling helmets, gear and accessories. Just last week, Investcorp announced its investment in Corneliani, the leading luxury menswear brand in Italy. Recent exits include the sale of assessment provider GL Education, the initial public offering of Asiakastieto on Nasdaq Helsinki, the sale of Icopal to Standard Industries, the sale of N&W to Lone Star Funds, the full sale of Skrill Group to Optimal Payments (now renamed Paysafe Group plc), the IPO of Sophos Group plc on the London Stock Exchange and the complete exit of a minority stake Autodistribution. — SG
