Zenitel, a leading player in integrated security communications, today announces it has agreed to acquire 100% of the shares of Nor-Electronics.
Located in Kristiansund, Norway, Nor-Electronics is specialised in public announcement solutions for the oil amd gas segment with its main focus on the Norwegian Continental shelf. Nor-Electronics has eight employees. It has an annual turnover of approximately €3m and a recurring EBITDA margin exceeding 10%.
Nor-Electronics managing director Martin Helleland is said to be very pleased with the agreement: "The company has been growing steadily over the past 13 years and in order to continue its growth it is good to become part of the Zenitel Group."
Zenitel CEO Kenneth Dastol commented that Zenitel is looking to strengthening its position in the oil and gas and industry segments: "Nor-Electronics is a dynamic and flexible company, specialised in PAGA solutions (public address and general alarm) to the oil and gas industry.
"Having been a solid partner of Zenitel for the past couple of years, it became clear that this strategic acquisition will contribute to the growth of both businesses. I am very pleased that we have closed the deal and look forward to welcoming the Nor-Electronics employees into the Zenitel family."
For more information, please contact Zenitel.