Investment AB Latour (publ) has, through its Finnish subsidiary Produal Oy, acquired SyxthSense Ltd, a United Kingdom-based company in advanced sensor technology for measurement and control in building automation solutions. The acquisition further widens Produal’s product offering towards the building automation segment and expands the group’s geographical reach with SyxthSense having a strong base in the UK.
SyxthSense is based in Topsham, Exeter United Kingdom. The company's product range includes a holistic offering of field devices and room controllers for building automation. The company had an annual revenue of approximately 2 mGBP in 2018.
"I am delighted to welcome the whole SyxthSense team to Produal group”, says Anselmi Immonen, CEO of Produal. “We have co-operated already for many years and are convinced about their high product quality and customer-driven approach. This acquisition is an important step in our ambition to grow on the international market for building automation and creates a strong presence in the UK, which is one of the largest building automation markets in Europe.”
“We see Produal and Bemsiq as perfect long-term owners for SyxthSense” says Mr. Dene Matthews, marketing director of SyxthSense and one of the founders of the company. “We all look forward to continue developing and growing SyxthSense under the new ownership and alongside the other companies in the Produal group.”
Göteborg, September 3, 2019
INVESTMENT AB LATOUR (PUBL)
Johan Hjertonsson, CEO
For further information, please contact:
Anselmi Immonen, CEO Produal Oy, +358 50 9118068
Investment AB Latour is a mixed investment company consisting primarily of a wholly-owned industrial operations and an investment portfolio of listing holdings in which Latour is the principal owner or one of the principal owners. The investment portfolio consists of nine substantial holdings with a market value of about SEK 57 billion. The wholly-owned industrial operations had an annual turnover of about SEK 12 billion in 2018.