Gunnebo Starts New Era Focused on Core Businesses
Stefan Syrén (left) and Sacha de La Noë
Divestment of Cash Management division is a ‘ground-breaking moment’
On March 1, 2022, Gunnebo Group began a new era focused on growing its core businesses after three years of restructuring and consolidation.
With the divestment of its third largest business, Cash Management, to GardaWorld Corporation, Gunnebo is now ready to accelerate growth in a more focused way in its core businesses Entrance Control and Safe Storage.
“We can now fully dedicate our resources and investments in the core businesses of Entrance Control and Safe Storage,” says Stefan Syrén, President and CEO of Gunnebo.
This is a ground-breaking moment for Gunnebo, which has acted for many years as a conglomerate consisting of a variety of businesses operating in the security sector.
“Our transformation journey in becoming a more focused customer centric and innovative company started in 2018. Since then we have divested multiple local companies, with the big leap taken with the recent sale of the Cash Management business. A goodbye to a long-time friend who during the years has developed satisfactorily, but who obviously is better fitted partnering with a company within its own industry,” Stefan says.
Entrance Control and Safe Storage now operate operationally and legally independently with full responsibility through their respective value chains. This means that each business is responsible for executing on their own strategy within the Group’s overarching strategic directions, investing in strengthened customer focus, innovation, digitalization and fit-for-purpose mergers and acquisitions.
“For Entrance Control, the direction forward is largely about building upon our geographical footprint and provide solutions for effective people-flow management in a number of segments such as mass transit, public and commercial buildings, Industrial/high risk sites, stadia and retail”, says Sacha de La Noë, President of Gunnebo Entrance Control.
Stefan says: “Becoming a more customer focused Safe Storage business, we will direct our efforts and investments by investing in technology fulfilling customer needs in residential, banking and high-end retail segments.”
Gunnebo’s two remaining businesses are now well equipped for the future.