SALTO invests in Austrian company Gantner to strengthen its Access Control solutions portfolio, and welcomes new shareholders
Thursday 15 October 2020
Oiartzun, SPAIN (October 15, 2020) SALTO Systems (“SALTO”), a leading manufacturer of electronic access control solutions, has acquired Gantner Electronic Austria Holding GmbH (“Gantner”).
SALTO is a leading manufacturer in electronic access control solutions with trusted customers in Education (Princeton University, University of Oxford), Hospitality (Hilton, Meliá Hotels and Resorts), Healthcare (Cleveland Clinic), Commercial (Assemblée Nationale, T-Mobile), Working Spaces (IWG Group, The Executive Center), Retail (BBVA, Migros), Coliving & Purpose Based Student Accommodation (The Student Hotel, Sonder) and Residential (Greystar). Having one of the broadest product portfolios in access control worldwide, SALTO can fulfill virtually every technical and functional requirement. Thus, access control solutions by SALTO can encompass almost every access point in a building and its perimeter. SALTO’s access control management software provides an intuitive user-centered software interface that makes it simple and secure to incorporate access control for any type of building size or user need.
In addition to Gantner, SALTO has added Clay (NL) and Danalock (DK) to its portfolio in recent years, thereby strengthening its position in cloud, mobile access, and customer-centric solutions such as ticketing systems and cashless payment.
Gantner is an Austrian company specialized in access systems, electronic locking and locker systems, cashless payment, cash register and billing systems, staff time recording systems as well as ticketing and management software for leisure facilities. A customer-centric and service-minded culture positions Gantner as a preferred partner to a variety of customers ranging from small and mid-cap enterprises to industry-leading Fortune 500 companies.
The transaction was financed by a combination of capital increase, bank financing and cash. The capital increase amounts to €125 million and has been subscribed by both existing shareholders such as ALANTRA (SP) and new investors such as SOFINA (BE), PENINSULA CAPITAL (LUX), and FLORAC (FR). Financial investors will hold a combined 30% stake in SALTO, with the remainder retained by SALTO’s founding members and managers (60%) and private investors (10%).
Part of what attracted SALTO to Gantner was their strong commitment to research and development. “The addition of Gantner to the SALTO portfolio offers a very bright future for our ability to continue to deliver the absolute best in electronic access control solutions,” said Javier Roquero, the Co-founder and CEO of SALTO. “The Gantner product suite offers a variety of innovative locking solutions as well as cashless payment and ticketing systems that enrich and diversify our product offering and will enhance the end-user experience. We are thrilled to welcome Gantner to the SALTO family.”
“Thanks to the new partnership with SALTO, we can expand our product portfolio, take advantage of important synergies, better target our markets and address customer segments with precision. This puts us in an optimal position to continue our dynamic growth,” said Elmar Hartmann, CEO Gantner Group.
With a combined workforce of 1,200 employees in 40 countries, including more than 230 dedicated to R&D, a turnover of €260 million and over a million access points delivered each year, the combined group consolidates its position as a global leader in electronic access control.
SALTO and Gantner are ready and willing to accomplish new growth projects together. The combined group will enable SALTO’s customers to offer their guests and employees a hassle-free end-to-end journey (e.g. access to parking lot, main entrance, elevators, ticketing, cashless payment, lockers, office doors, canteen and leisure facilities, all with the same credentials). “If there is one thing the global COVID pandemic has taught us, it’s that the ability to deliver more contactless solutions managed by end-users is very much needed and is here to stay,” said Javier Roquero. “Gantner has developed a variety of solutions that allow end users more autonomy in gaining access, paying for merchandise, and purchasing tickets and gaining entry to special events. This adds incredible value to our existing efforts to offer our customers more contactless solutions.”
About SALTO Systems
Founded in Irun, Spain in 2001, SALTO Systems is a global leader in the development and manufacture of leading-edge electronic access control solutions, particularly in sectors where security is critical. The company revolutionized access control with a pioneering approach that featured the first stand-alone, battery-powered electronic lock; the SALTO Virtual Network (SVN) data-on-card technology; and the first wireless access control system that combined a stand-alone locking device with online, real-time capabilities — all without using wires or mechanical keys. More recently, the company’s technological expertise has brought SALTO to leading positions in both cloud-based access control technology and mobile access solutions. SALTO has delivered more than 5 million access points worldwide, used by an estimated 40 million people every day. SALTO has local sales and technical offices in 32 countries and a channel partner network that extends its reach to nearly every region of the globe. SALTO is certified according to the ISO 9001 quality management as well as ISO 14001 environmental management and ISO 27001 of information security management. For more information, see www.saltosystems.com.
Founded in Schruns, Austria in 1982, Gantner is widely considered to be a pioneer in contactless electronic access management and time recording systems in its core segments. Gantner offers its customers solutions based on RFID and NFC technology for use in gyms, public pools and spas, theme parks, universities and libraries, and in commercial properties and public buildings. The solutions include access systems, electronic locking and locker systems, cashless payment, cash register and billing systems, staff time recording systems as well as ticketing and management software for leisure facilities. Active in over 60 countries with subsidiaries in Germany, the United Kingdom, Dubai and Australia, Gantner is certified according to the ISO 9001 quality management as well as ISO 14001 environmental management and ISO 27001 of information security management, and has received multiple excellency awards for innovation, product design, and best employer of the region. For more information, see www.gantner.com.
Sofina is a family-owned investment company controlled by the descendants of Gustave Boël and listed on Euronext Brussels, managing its own assets representing ca. EUR 7.3 billion. Sofina aspires to be the preferred partners of entrepreneurs and families who lead growing companies by backing them with patient capital and supportive advice. It takes minority ownership positions, typically in the EUR 75 to 300 million range. Common vision and strong alignment of interests with its partners are paramount in the deployment of the strategy. For more information, visit www.sofinagroup.com
About Peninsula Capital
Peninsula Capital is a Pan-European Private Equity firm with €1.6bn under management. Peninsula is a value-oriented long-term investor seeking well-managed companies with strong fundamentals, sustainable competitive leadership and international footprint. Peninsula is characterized by a flexible investment criteria allowing to seek both controlling and minority stakes. Since 2016 Peninsula has invested in 9 companies in the Retail, Industrial, Transportation, Healthcare and Financial sectors. For more information, visit www.peninsulacapital.co.uk
Alantra is a global alternative asset management, investment banking, and credit portfolio advisory firm focusing on the mid-market. In Alternative Asset Management (€2.4bn AuMs as of Sep-20), Alantra offers its clients unique access to a wide range of investment strategies. Alantra’s private equity team is the pioneer and one of the leading PE units in the Iberian market with over 25 years heritage and a clear and proven investment strategy mainly based on driving growth in upper mid-market Iberian companies through internationalisation (both organic and inorganic). Alantra PE has a long track record with differentiating expertise in Food and Beverage, Industrial, Healthcare and Technology, and it enjoys a unique access to the Iberian market and proven ability to create proprietary deal flow. For more information, see www.alantra.com.
Florac is an investment firm chaired by Marie-Jeanne Meyer, historical shareholder of the Louis-Dreyfus group, and managed by Léopold Meyer. Florac invests €20-150mm equity tickets alongside strategic partners, founders, or managers, in companies with strong growth prospects and based in Europe and the USA. Florac’s investment in SALTO is the third one since the beginning of the year, bringing the number of companies with which it has partnered (as a majority or minority investor) to more than 20 since its creation in 2009. Its family ownership and flexible investment horizon enable it to support companies over time. Florac has offices in Paris and Los Angeles. For more information, visit www.florac.eu.
Advisors and other participants to the transaction
- Financial and tax Due Diligence: PwC, Landwell
- Legal: Garrigues San Sebastian, Wolf Theiss
- Financing: Banco Sabadell, BBVA
- M&A advisor to Sofina and Peninsula Capital: BNP Paribas
- M&A advisor to Florac: Degroof Petercam
- Legal advisor to Sofina: Linklaters
- Legal advisor to Peninsula Capital: Herbert Smith Freehills
- Legal advisor to Alantra: King Wood Mallesons
- Legal advisor to Florac: Shearman & Sterling
- Commercial Due Diligence: Bain & Co
- Financial, Tax, Environmental and ESG Due Diligence: KPMG
- Insurance: Willis Towers Watson