LFV Acquires Eltel Aviation & Security Area

LFV Acquires Eltel Aviation & Security AreaEltel Aviation & Security area provides technical operations and maintenance services to air traffic control centers and airports as well as government agencies and companies in Sweden. A letter of intent was signed by LFV and Eltel in June 2019 with the acquisition now being completed.

LFV’s Director General Ann Persson Grivas stated “The acquisition of Eltel Aviation & Security Area is important for the operation and support of our operating systems so that we can deliver an efficient, safe and environmentally adapted air traffic service. The business will be conducted in a wholly-owned subsidiary of the LFV business enterprise group. The company will continue to be an important player in the market. With the acquisition, we get many new and competent employees who help to develop both our business and the assignments that are delivered to other customers”.

After some initial assessments, based on new security protection law as well as LFV’s sourcing strategy LFV decided that what Eltel Aviation & Security Area delivers should be conducted under its control. This acquisition enables the continued delivery of services to current and future customers.

“Over the years we have successfully developed Aviation & Security in Sweden. Since LFV is Eltel’s largest customer in the aviation and 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.

Following the acquisition, the aviation and security business area will become a wholly-owned subsidiary that is part of LFV Holding AB.

Facts about Eltel’s Aviation & Security business area

The aviation and security business area provides technical operations and maintenance services to air traffic control centers, airports, government agencies and companies in Sweden. The business area employs approximately 200 employees and has sales of approximately SEK 300 million in 2019.

Article Source: LFV