Latour invests in software company to accelerate digital service offering
Investment AB Latour has, through its wholly-owned subsidiary Swegon Group AB, signed an agreement to acquire the majority in the Finnish digital software company 720° (Seven Twenty degrees). 720° was founded in 2012 and has 8 employees with the head office in Helsinki. The company provides analytical software to monitor, visualise and predict the indoor climate in buildings. This investment will accelerate Swegon’s offering in digital services and strengthens Swegon’s position as one of the leading companies for indoor environment solutions. 720° currently has their offering in place at over 200 buildings, mainly in Finland. Net sales in 2020 amounted to 0.5 MEUR.
“We are very happy to announce this strategically important investment with 720°. 720° is in the forefront of monitoring, analysing, and visualizing the indoor climate and it gives Swegon a unique position as full-service providers of indoor climate solutions. We will together with 720° not only visualize the indoor climate, but also provide suggestions of how to improve the environment in a building. The indoor environment has in the past year become increasingly important and more and more people are becoming aware of the effect that it has on our health and productivity. Since the indoor environment is invisible and complex, we want to be able to provide property owners, tenants and other building users with clear insights and suggestions on their indoor environment”, says Andreas Örje Wellstam, CEO at Swegon Group.
“Both Swegon and 720° have a focus on indoor environmental quality and in particular from the human perspective. This partnership combines our technologies and services and allow us to reach a much larger customer base and even new markets. 720°’s knowledge and technological development of monitoring, analysing, and visualizing the indoor climate complements Swegons current portfolio in a very good way”, says Rick Aller, founder, and CEO of 720°.
The investment will be completed in August 2021.
Göteborg, 5 July, 2021
INVESTMENT AB LATOUR (PUBL)
Johan Hjertonsson, CEO
For further information, please contact:
Andreas Örje Wellstam, CEO Swegon +46 31 89 58 00
Matthew Goodrick, Corporate Development Swegon +46 31 89 58 00
Swegon Group is a market leading supplier in the field of indoor environment, offering solutions for ventilation, heating, cooling and climate optimisation, as well as connected services and expert technical support. Swegon has subsidiaries in and distributors all over the world and 16 production plants in Europe, North America and India. The company employs more than 2 600 people and in 2020 had a turnover of 6 billion SEK.
Investment AB Latour is a mixed investment company consisting primarily of a wholly-owned industrial operations and an investment portfolio of listing holdings in which Latour is the principal owner or one of the principal owners. The investment portfolio consists of nine substantial holdings with a market value of about SEK 83 billion. The wholly-owned industrial operations has an annual turnover of SEK 15 billion.