Arctic Group is acquired by Trill Impact

    With the ambition to build a leading company in cyber security, Trill Impact has acquired Arctic Group AB and ID North AB

    WP_Post_Type Object ( [name] => article [label] => News & Events [labels] => stdClass Object ( [name] => News & Events [singular_name] => Nyhet och Event [add_new] => Add New Page [add_new_item] => Add New Page [edit_item] => Edit Page [new_item] => New Page [view_item] => View Page [view_items] => View Pages [search_items] => Search Pages [not_found] => No pages found. [not_found_in_trash] => No pages found in Trash. [parent_item_colon] => Parent Page: [all_items] => Nyheter & Event [archives] => Nyheter & Event [attributes] => Page Attributes [insert_into_item] => Insert into page [uploaded_to_this_item] => Uploaded to this page [featured_image] => Featured image [set_featured_image] => Set featured image [remove_featured_image] => Remove featured image [use_featured_image] => Use as featured image [filter_items_list] => Filter pages list [filter_by_date] => Filter by date [items_list_navigation] => Pages list navigation [items_list] => Pages list [item_published] => Page published. [item_published_privately] => Page published privately. [item_reverted_to_draft] => Page reverted to draft. [item_trashed] => Page trashed. [item_scheduled] => Page scheduled. [item_updated] => Page updated. [item_link] => Page Link [item_link_description] => A link to a page. [menu_name] => Nyheter & Event [description] => [name_admin_bar] => Nyhet och Event ) [description] => [public] => 1 [hierarchical] => 1 [exclude_from_search] => [publicly_queryable] => 1 [show_ui] => 1 [show_in_menu] => 1 [show_in_nav_menus] => 1 [show_in_admin_bar] => 1 [menu_position] => [menu_icon] => [capability_type] => post [map_meta_cap] => 1 [register_meta_box_cb] => [taxonomies] => Array ( ) [has_archive] => 1 [query_var] => article [can_export] => 1 [delete_with_user] => [template] => Array ( ) [template_lock] => [_builtin] => [_edit_link] => post.php?post=%d [cap] => stdClass Object ( [edit_post] => edit_post [read_post] => read_post [delete_post] => delete_post [edit_posts] => edit_posts [edit_others_posts] => edit_others_posts [delete_posts] => delete_posts [publish_posts] => publish_posts [read_private_posts] => read_private_posts [read] => read [delete_private_posts] => delete_private_posts [delete_published_posts] => delete_published_posts [delete_others_posts] => delete_others_posts [edit_private_posts] => edit_private_posts [edit_published_posts] => edit_published_posts [create_posts] => edit_posts ) [rewrite] => Array ( [slug] => news-and-events [with_front] => 1 [pages] => 1 [feeds] => 1 [ep_mask] => 1 ) [show_in_rest] => 1 [rest_base] => [rest_namespace] => wp/v2 [rest_controller_class] => [rest_controller] => [revisions_rest_controller_class] => [revisions_rest_controller] => [autosave_rest_controller_class] => [autosave_rest_controller] => [late_route_registration] => [with_front] => 1 )

    With the ambition to build a leading company that handles the increasing demand for consultancy in cyber security, Trill Impact has acquired Arctic Group AB (“Arctic Group”) and ID North AB (“ID North”), jointly called European ID Security (” the group”). With these two companies, Trill Impact forms a strong platform for future expansion.

    The increasingly rapid digital development has led to significant IT security risks for companies, organizations and authorities. Identity theft, data breaches and insider threats are among the ten biggest cyber threats in the EU. During the Covid-19 pandemic, these security challenges have become even greater as the number of cyber attacks has increased sharply.*1 A lack of ability to manage today’s cyber security risks can lead to serious consequences for both organizations and society at large. Today, the global cost of cybercrime is estimated at 5.5 billion euros.*2

    Trill Impact intends to create a leading group that addresses society’s need for increased preparedness against cybercrime and has identified several attractive companies in Europe that address this, including Arctic Group and ID North which form the first two platform investments in the new group. Both companies are leaders in secure identity management *3, which is an attractive and fast-growing segment in the currently fragmented cybersecurity market. The group’s employees possess specialist competence in identity management and have extensive experience in helping customers improve and strengthen their security in this area. The new group works with leading technology suppliers and has extensive experience in ensuring robust cyber security in its customers’ digital development. Over time, Trill Impact intends to add additional specialists in cyber security consulting to the group to build and develop a leading service provider that can contribute to solutions for society’s need for increased cyber security.

    The group will be supported by a central management group that will be responsible for overall strategy, acquisitions and finance, under the leadership of Frida Westerberg (former CEO of IP-Only). Frida Westerberg has extensive experience in developing and implementing growth strategies combined with strong leadership. In addition, Trill Impact assesses that her experience in successfully completing acquisitions and realizing cooperation benefits will be very valuable for the continued expansion of the newly formed group.

    “I am really looking forward to starting this journey together with Trill Impact with the goal of building a leading cyber security group. In Arctic Group and ID North, we have found two knowledge leaders in the secure handling of identities and together they form a strong platform for future expansion in this very important sector for society,” says Frida Westerberg, CEO of European ID Security.

    “In Trill Impact, we have gained an owner who shares our common vision to help customers improve their cyber security and IT infrastructure, particularly when it comes to the secure management of identities, which is a critical component of organizations’ cyber security strategy. Together we can create an Impact leader in the industry and we are convinced that our customers will greatly benefit from this partnership, so we look very positively at our opportunities going forward,” says Fredrik Åström, CEO of Arctic Group, and Jens Björkman , CEO of ID North.

    “Cyber ​​threats constitute a large and rapidly growing societal risk and we see here an opportunity to build a leading actor that can significantly improve society’s preparedness against cybercrime, both in Sweden and internationally. Arctic Group and ID North are both known for their knowledge leadership and strong customer focus, and we believe that the companies fit well together, both from a strategic and cultural perspective. Our assessment is that the companies under the leadership of Frida Westerberg together form a strong and well-positioned platform for further organic and acquisition-led growth,” concludes Johan Lundén, Senior Investment Director at Trill Impact.

    The parties have agreed not to disclose the financial terms of the transaction.

    Trill Impact closed its €900m mid-market impact buyout fund in the third quarter of 2021, making it one of the largest first-time funds closed during the covid-19 pandemic by an independent private investment firm. Arctic Group and ID North are the fund’s fifth and sixth investments, respectively. Previous investments include Nordomatic, a leading service specialist in smart and energy-efficient buildings, ILT Education, an EdTech company with a clear sustainability agenda, and Meona and I-SOLUTIONS, two e-health companies that improve the quality and efficiency of healthcare.

    Media contacts:
    Trill Impact: Johan Lundén, Senior Investment Director, Mobil: +46 73 801 90 91
    European ID Security: Frida Westerberg, CEO, Mobil: +46 70 870 98 50
    Arctic Group: Fredrik Åström, CEO, Mobil: +46 70 526 27 10
    ID North: Jens Björkman, CEO, Mobil: +46 70 410 73 00

    Trill Impact ( Trill Impact is an innovative Impact House with more than €1 billion in assets under management across its two advisory strategies, private equity and microfinance. As the exclusive investment advisor to the Trill Impact fund, the company has a team of more than 20 experienced experts based in Sweden and Germany. The corporate culture within Trill Impact is characterized by a high level of ambition and a passion for driving positive change in the outside world and realizing the company’s vision of creating competitive financial returns combined with long-term impact for the benefit of investors, companies and society at large.

    Arctic Group ( Arctic Group is a Swedish consulting company that focuses on information security, integration services and implementation of tools for software development. Arctic Group has a qualified and skilled team with extensive experience in helping clients ensure robust identity security, as well as assisting with services related to integration and fraud.

    ID North ( ID North is a Swedish consulting company specializing in identity security. The company has a qualified team with extensive experience and the company works with leading technology providers, including SailPoint, Okta and CyberArk, which enables a high level of security when the customer digitizes their business.

    SDG and Impact Grants: The purpose of the services and solutions offered by Arctic Group and ID North is to improve customers’ preparedness against cybercrime by securing their digital infrastructure. A secure digital infrastructure is a growing societal need given the increasing cybercrime, high societal costs of cyberattacks and a lack of relevant technical expertise in the market. Trill Impact’s assessment is that the group contributes to SDG #16 (Peace, Justice and Strong Institutions), #9 (Industry, Innovation and Infrastructure) and #4 (Quality Education).

    *1. Source: European Commission EU Cybersecurity Strategy and KPMG CIO survey

    *2. Source: European Commission Cybersecurity, Our digital anchor

    *3. Secure identity management includes techniques for classifying users and groups in a software system, as well as what resources they can access and what functions they can perform. The area includes Identity Governance and Administration (“IGA”), Access Management (“AM”) and Privileged Access Management (“PAM”), which is collectively referred to as Identity & Access Management (“IAM”)