CoBe Capital announces sale of Techco Security to Securitas AB (STO:SECU-B)
Madrid, Spain – CoBe Capital, a global private investment firm focused on the acquisition and management of non-core business units from large corporations, announced today that it has closed the sale of its Spain-based portfolio company, Techco Security, a leading local provider of electronic monitoring services, to Securitas AB, a global corporation specializing in protective services.
Darren Chaffee, Managing Director, stated, “We are thrilled to see the significant efforts by our team, as well as the employees of Techco, rewarded with an exceptional outcome for the business. We believe we have found the ideal partner in Securitas to provide extensive support as Techco enters their next phase of growth.”
Acquired in 2015, Techco Security required a challenging carve-out that was completed in less than six months; key elements included finding new leadership, a complex operational cut-over, and executing a full IT carve-out. Under CoBe’s ownership, Techco underwent an operational overhaul that saw significant improvements in cost efficiency, quality of service and IT infrastructure, leading to strong performance and sustainable growth.
Neal Cohen, CoBe Capital’s Founder and Managing Director, said, “The acquisition, turnaround and strengthening of Techco Security is a testament to our continued success as carve-out specialists. While it is difficult to move on from a flourishing business, we are proud to have executed on our strategic vision and look forward to applying our philosophy and learnings to new opportunities.”
About CoBe Capital
CoBe Capital, a global private investment firm with a permanent capital base, specializes in the acquisition and operation of non-core and underperforming business units in the Americas and Europe from leading global corporations. CoBe Capital owns and operates a diversified portfolio of companies and strives to achieve long-term growth based on lean management and continuous improvement business philosophies. CoBe Capital was founded by Neal Cohen in 1994. For more information on CoBe Capital, please visit cobecapital.com.