Fidelix Group acquires EcoGuard
Finnish building automation systems supplier Fidelix has purchased Swedish company EcoGuard, a market leader in digital measurement services for real estate.
Fidelix agreed on 2 April to purchase the whole capital stock of EcoGuard. The Swedish market leader has a turnover of 100 million Swedish krona (approx. 9.6 million euros) and employs around 50 people.
EcoGuard offers cloud-based software, sensors and innovative measuring solutions to help to manage electricity, water and temperature in buildings on a unit-by-unit basis and cut energy costs for both real estate owners and residents.
“We are happy to become a part of the Fidelix Group,” said Björn Fagerdahl, CEO of EcoGuard. “We believe that Fidelix is an ideal partner for supporting our growth plan in Sweden, and we also see a big opportunity for us to grow with our offering to apartment constructors and real estate owners in Finland and other markets. We will become even stronger together in the digitalisation of buildings in the Nordics.”
Fidelix Group’s pro forma net sales exceed 40 million euros, and the Finnish company employs 280 people. The acquisition will not affect employees of either company.