Clearwater has advised Systeminstallation (SI), a leading building automation provider, on its majority sale to Nordic investment fund, Alder.
Founded in 1998, SI designs, develops, and delivers building automation solutions and related software and services. The company is headquartered in Varberg, Sweden, has an annual turnover of approximately €15m and employs around 110 people. SI has, under the leadership of its four founders, grown steadily from Varberg to five additional locations in south-western Sweden and has continuously broadened its offering from the building automation segment to unique solutions for areas such as logistics, water and sewage, and spa and bath. In addition, SI has developed software applications and remote monitoring services provided on a subscription basis.
Alder will provide capital, experience and support to enable further geographical expansion and development of SI’s software applications and solutions. The current owners will remain substantial minority shareholders and continue to develop the business in partnership with Alder.
