Nedap has sold Nsecure to Unica

Lincoln International (“Lincoln”) is pleased to announce the successful sale of Nsecure, a specialist system integrator for security systems and a subsidiary of Euronext listed Nedap N.V. (AMS:NEDAP). The final purchaser is Unica, one of the Netherlands largest technical service providers and a portfolio company of Triton Partners. The sale marks Lincoln’s 10th Benelux transaction in 2017.

Nsecure, headquartered in Barendrecht, the Netherlands, is the Dutch market leader in access control and identity management. Nsecure manages access to corporate buildings and perimeters using data-driven access control systems and software platforms. It offers high-end security system integration capabilities complemented by a range of security-as-a-service solutions. Nsecure has a large installed base of security management systems and manages over a million active access badges on a daily basis for large corporations in the Netherlands. Nsecure was founded in 1995 and has 112 employees.

Nsecure further broadens Unica’s specialized knowledge in the area of security management and access control. The acquisition of Nsecure enables Unica to further strengthen its capabilities in offering integrated technical solutions to its clients. “Nsecure is pleased to join Unica, one of the largest technical service providers in the Netherlands. With Unica, we have a shareholder that fully commits to our vision and strategy and that enables us to further build on our market-leading position in the Dutch access control market,” said Hans van Driel, CEO of Nsecure.

Eric Urff, CFO at Nedap N.V., said, “We selected Lincoln International to lead this divestment process on the basis of its deep sector expertise, committed team and global reach to relevant buyers. Lincoln International managed an excellent and intense process, providing us with multiple options and finally resulting in a great outcome for all parties involved. We wish Nsecure all the best as part of the Unica family and look forward to continuing our business relationship with them.”

Lincoln acted as exclusive financial advisor to the seller, working closely with both Nedap N.V. and the Nsecure management team. Lincoln led a highly competitive auction process with strong interest from both international strategic investors as well as financial sponsors. The final purchase price represents a premium double-digit EBITDA multiple, reflecting Nsecure’s unique strategic position in the Dutch security management market.

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