LFV acquires the Eltel Swedish Aviation & Security business area
The Eltel Swedish Aviation & Security business area provides technical operations and maintenance services to air traffic control centres, airports, other government agencies and companies in Sweden. In June 2019, LFV and Eltel signed a letter of intent now concluded in an agreement to acquire.
- The acquisition of Aviation & Security business area from Eltel is important to the management and support of our operating systems to deliver safe and efficient air traffic services. This business area will continue to be a strong player in the market. From this acquisition we will gain many competent employees who will help to develop both our own operations and projects delivered to other customers, says LFV Director-General Ann Persson Grivas.
LFV has made the assessment that the business should be conducted under LFV management. This is based on the resumed total defence situation, the conditions stipulated in the new Security Protection Act and LFVs sourcing strategy. The entire business area should be acquired as LFV is currently Eltel's largest customer within Aviation & Security. The acquisition will enable a continued delivery of services to the customers of Aviation & Security.
- Over the years we have successfully developed Aviation & Security in Sweden. Since LFV is Eltel's largest customer in the Aviation & Security business area, divestment of the entire business area is the best and most effective solution for everyone involved including employees, customers and other stakeholders, says Casimir Lindholm, President and CEO of Eltel.
As a result of the acquisition, the Aviation & Security business area becomes a public limited company and a wholly-owned subsidiary and part of LFV Holding AB.
Facts about the Eltel Aviation & Security business area
The Aviation & Security business area provides technical operations and maintenance services to air traffic control centres, airports, other government agencies and companies in Sweden. In 2019, the business area had around 200 employees and sales of SEK 300 million.
Facts about LFV
LFV is Sweden's leading player in air traffic management for civil and military aviation with associated services. LFV's air traffic controllers manage around 2,000 aircraft in Swedish airspace on a daily basis. LFV was the first in the world to operate remote air traffic control and is driving digitalisation forward in several areas. Through various collaborative arrangements, LFV participates in and streamlines European airspace. In 2019, LFV had 1,100 employees and a turnover of SEK 3.1 billion.