Nordic Capital is iLOQ’s major shareholder
iLOQ’s main shareholders have today signed a contract for the sale of iLOQ to a company that is majority owned by Nordic Capital Fund IX. Purchase price for the shares is 190M€. The final amount of the purchase price will be specified at the time of the completion of the transaction. The transaction is subject to the approval of the necessary competition authorities. The transaction is expected to close in 2019.
iLOQ Ltd. announced via press release on 10.5.2018 that it has decided to evaluate opportunities for the listing of the company’s shares and other possible options to ensure the company’s rapid growth and internationalization. The Board of Directors’ investigation is now complete.
“Nordic Capital is an ideal new owner to support the company’s growth strategy and efforts to grow its business in global markets. This will also strengthen the company’s position and increase its reputation among the various stakeholders in the company, “says Harri Takanen, Chairman of the iLOQ’s Board
”iLOQ is a fast-growing company with revolutionising solutions with high expansion potential, driving a structural shift from mechanical locks to mechatronic or digital solutions. iLOQ’s patented solutions offer a strong value proposition to its customers, and the company has a promising innovation pipeline. We are highly impressed with management’s strong trackrecord of successfully growing the business and look forward to further supporting the company’s development and international expansion,” says Robert Furuhjelm, Partner and Head of Finland, Nordic Capital Advisors.
Board of Directors
For more information:
Heikki Hiltunen, President and CEO, tel. +358 40 3170 260
iLOQ in brief
iLOQ is a rapidly growing Finnish company that is leading the technological revolution in the digital locking industry. iLOQ transforms mechanical locks into digital and mobile access management. iLOQ solutions are based on technologies developed and patented by the company, enabling electronic and mobile locking without batteries or cables. iLOQ replaces mechanical and electromechanical locking systems with environmentally friendly solutions that solve the problems of lost or copied keys, reduce lock maintenance and minimize lifecycle costs. The company’s net sales in 2018 were EUR 50,2 million and 150 employees. www.iloq.com