Connexion2, which makes communication devices for lone workers, has been acquired by US-based emergency communications company Kings III in a multimillion-pound deal.
Sheffield-based Connexion2 was launched in 2003, backed by investors including South Yorkshire Investment Fund, through its fund manager YFM Equity Partners.
Craig Swallow, managing director of Connexion2, said: “For a while now, Connexion2 has sought a strategic partnership that truly allows it to develop fully into other target geographic markets. I believe the partnership with Kings III will enable us to do this in the coming years.”
The company, which employs about 30 staff, develops and manufactures ‘Identicom’, which is now one of the UK’s most widely-deployed dedicated lone worker communication tools.
It will retain its existing trading name and its SoloProtect brand-presence throughout the UK.
Kings III’s acquisition will help the development of a number of European and Asian markets as well as US and Canadian markets, also using the SoloProtect brand.
Connexion2 was advised by Leeds-based Sentio Corporate Finance and led by partner Will Arnold, who commented: “The transaction with Kings III represents a great strategic fit and will allow Connexion2 to build upon its market leading position and excellent customer base in the growing lone worker safety market.”