Castik buys Addsecure from Abry

Addsecure's management also invested in the new company alongside Castik and Abry.

The firm said in a statement that it has tripled in size over the past three years, since Abry's initial investment.

Castik raised €1bn for Epic I SLP in 2015. The vehicle targets equity investments of €100-250m.

Previous funding
Viking Ventures backed Safetel, which would eventually form AddSecure, in 2003, investing alongside B Skaugen and Follum.

GMT Communication Partners acquired Multicom Security in May 2005, investing €60m to back the company's MBO.

GMT and Viking exited the business in June 2016 when Abry acquired 100% of the equity in a secondary buyout.

Company
Addsecure is headquartered in Stockholm and has 22 offices across Europe. It provides security services such as alarm monitoring and grid fault detection. The company employs 330 people.

People
Castik Capital – Michael Phillips (partner).
Abry Partners – Rob Nicewicz (principal).
Addsecure – Stefan Albertsson (CEO).

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• Topics
• Buyouts
• Nordics
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• Sweden
• Castik Capital
• Secondary buyout