Zenitel acquires Nor-Electronics
Zenitel N.V. (EURONEXT Brussels: ZENT), 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 specialized in Public Announcement solutions for the Oil & Gas segment with its main focus on the Norwegian Continental shelf. Nor-Electronics has 8 employees. It has an annual turnover of approximately 3 million Euro and a recurring EBITDA margin exceeding 10%.
Martin Helleland, Managing Director of Nor-Electronics 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”.
Kenneth Dastol, CEO of Zenitel, commented that Zenitel is looking to strengthening its position in the Oil & Gas and Industry segments: “Nor-Electronics is a dynamic and flexible company, specialized in PAGA solutions (Public Address & 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”.
By acquiring Nor-Electronics, Zenitel is further strengthening the well-known brand Vingtor-Stentofon, which is a worldwide leader in critical communication solutions.