Triton-backed Polygon acquires Hiotlabs

The deal will help Polygon provide improved property damage prevention to its customers.

The company has made numerous acquisitions since being acquired by the GP in 2010. According to  sister publication Mergermarket, it acquired six companies in 2019, including Nettag, Tehokuivaus, The Plastic Surgeon Holdings, and Vanwaarde. 

Polygon has been a Triton Fund III company since 2010 and employs 4,500 people across 14 countries. In 2019, it reported a net income of €10.5m on sales of €677.1m.

According to a report in Mergermarket, Polygon may soon be sold or listed. The CEO Axel Gränitz told the publication that it was not preparing for an IPO and was fully concentrated on accelerating organic and inorganic growth. 

Company 
Founded in 2015 and based in Stockholm, Hiotlabs is an InsurTech company that has developed technology to prevent and minimise property damage. According to its LinkedIn page, it employs fewer than 10 staff. 

People
Polygon Group – Axel Gränitz (president, CEO).
Hiotlabs – Jonas Deibe (co-founder, CEO)

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