2020-05-25

Polygon has signed an agreement to acquire Hiotlabs AB

Polygon has today signed an agreement to acquire Hiotlabs AB. Hiotlabs is a Swedish based company offering market leading technology solutions based on Internet of Things and Machine Learning. The solutions consist of sensors and software platform, with the purpose of detecting and preventing water damages in buildings.

With joint forces and by combining technology and Property Damage Restoration Services, Polygon and Hiotlabs will be able to offer their customers end-to-end solutions for Property Damage Prevention.

“I am very thrilled about this opportunity, which is an important part of our strategy to strengthen our offering in Property Damage Prevention. I am convinced that with our complementary strengths, we will be able to transform the industry ”, says Axel Gränitz, President & CEO of Polygon Group.

“I have come to know Hiotlabs as a very innovative company with cutting edge technology and high customer focus Together we will offer new and attractive solutions to our customers and this will enable us to further consolidate our position as the industry leader. ”, says Caroline Finslo, Head of Business of Development of Polygon Group.

“After a long and fruitful collaboration with Polygon, I am very happy to become part of the Polygon family and I am excited about our joint opportunities to scale up and offer our solutions across Europe to many new insurance companies as well as to other customer segments. Polygon has a very strong culture and as the industry leader, with key relationships with customers who will benefit from our joint solutions, I consider Polygon as the perfect owner that will make it possible for us to realize our vision and growth ambitions”, says Jonas Deibe”, Co-founder and CEO of Hiotlabs AB.

Jonas Deibe and his team will all continue to work for Polygon to further develop and sell their solutions to the market, in close collaboration with their new Polygon colleagues.

Polygon is a Global Expert and the European market leader in Property Damage Control. On 3 continents and in 14 countries, our 4.500 service professionals prevent, control and mitigate the effects of water, fire and climate. Our innovative and tailor-made solutions combine people, knowledge and technology for a wide range of customer segments.

Weibull M&A was the exclusive financial advisor to the sellers.