Press release -

AddSecure-owned Vehco acquires Finland’s leading Fleet Management company, Paetronics Oy, to strengthen Nordic footprint

Through the acquisition, AddSecure and Vehco further strengthens their positions in Finland, at the same time as Vehco pursues its growth strategy and vision of becoming
the number one
FMS supplier for heavy truck companies in Europe.

AddSecure-owned Fleet Management Systems provider Vehco, today announced that it has acquired Paetronics Oy, the leading Finnish Fleet Management supplier to a wide range of transport companies in Finland.

Shortly after AddSecure stepped in as new owners in May 2018, Vehco announced the strategic acquisition of Groeneveld ICT, a leading Dutch Fleet Management provider. With the acquisition of Paetronics, Vehco pursues its growth strategy and vision of becoming the leading Fleet Management provider in Europe to heavy commercial vehicles (HCV). At the same time, Addsecure further strengthens its position in Finland, after having established Addsecure Oy early 2018.

Through the acquisition, Vehco strengthens its market leading position in the Nordics and has a solid platform for European growth. At the same time, the company expands its know-how on state-of-the-art hardware and software platforms, empowers its solutions portfolio as well as increases its R&D capacity.

"We are very excited to bring the Paetronics team into the Vehco family. Both Vehco and Paetronics are committed to providing premium vehicle and transport services required by customers in Finland and across Europe. In addition, the two companies’ company culture, business strategies, success definitions and customers are a good match” said Magnus Orrebrant, CEO of Vehco.

“We are pleased to join the Vehco team and looking forward to sharing both knowledge, experience and resources. Through the merge Paetronics’ potential will best be realized and further growth and scale can be achieved,” said Mika Kivela, CEO of Paetronics Oy.

“The acquisition further strengthens Vehco’s and AddSecure’s footprint in the Nordics, and fits well into the company’s overall growth strategy and vision of becoming the number one FMS supplier. For Paetronics this merge is an opportunity to join an expansive European provider,” said Stefan Albertsson, CEO of AddSecure.

The acquisition will cover 100% of Paetronics Oy and its Swedish subsidiary Econen AB. Paetronics will be fully incorporated and re-branded Vehco.

AddSecure is a leading European provider of premium IoT solutions with a focus on secure critical communications and data. More than 50,000 customers within the security and safety industry, rescue services, building security and automation, digital care, transport and logistics, utilities, smart cities, and more, safeguard their life and business-critical applications with solutions from AddSecure. This helps save lives, protect property and vital societal functions, and drives business.
The secure and reliable end-to-end solutions within the business units Smart Alarms, Smart Care, Smart Grids, Smart Rescue, Smart Surveillance, and Smart Transport, help make the world a safer and smarter place.
The company, founded in the early 1970s, today employs more than 880 staff in 15 countries. AddSecure is headquartered in Stockholm, Sweden, and has regional offices as well as a network of distributors around Europe.
AddSecure is majority-owned by Funds managed by Castik Capital, a European private equity fund with a long-term approach to value creation, founded in 2014.

Press contacts

Kristina Grandin

Press contact Director Corporate Communications +46 706 89 52 08