Multispecialist EET Group has signed an agreement to acquire Oprema, the fastest growing distributor of CCTV, access control, intrusion, fire, and networking products in the United Kingdom, to further strengthen and accelerate growth in its Surveillance & Security segment.
Oprema, founded in 2010 and located in Cardiff, posted an approx. 29% increase in revenues to almost €28 million in 2020. Oprema, having more than 50 employees, will add a broad portfolio of strong brands and significantly increase EET Group’s position in the UK, the largest Surveillance & Security market in Europe and the 6th largest in the world.
“The combined Oprema and EET Surveillance & Security activities in the UK creates a serious player in the important and fast-growing UK market and an excellent platform for continued strong growth. Oprema is a very well-run company, and has demonstrated solid, profitable growth for several years. With this acquisition, Surveillance & Security becomes the biggest segment in the EET Group, accounting for more than 20% of total sales”, says EET Group CEO Søren Drewsen.
EET Group has a well-defined expansion strategy, focusing on both organic growth and on selected acquisitions. Oprema is EET Group’s 26th acquisition since 2015 and the second in 2021, but unlike most earlier cases, Oprema will continue to operate under its current brand.
“It makes strategic and commercial sense to continue with the strong Oprema brand and let Oprema be our centre of excellence in this segment. We are looking forward to welcoming and working with the dedicated and skilled Oprema team”, says Søren Drewsen.
Oprema carries over 50 leading technology brands and in addition to sales and distribution of the products, Oprema applies a consultative approach, offering customers e.g., pre-configuration and on-site commissioning among its services.
CEO and founder of Oprema, Matthew Epps, says: “EET Group is a perfect partner for Oprema, sharing our focus on value-adding services and commitment to improving the efficiency of the installation and maintenance process. At Oprema, we are excited to become part of a well-renowned European IT distributor, and I am convinced that we together can continue our strong growth trajectory.“