Press Release
As of 1st January 2008
SOS International a/s acquires Euro-Alarm A/S
SOS International a/s, the leading international assistance organisation, has as of 15th of January 2008 signed a purchase agreement to acquire 100% of the shares of Euro-Alarm A/S from If P&C.
Euro-Alarm’s main business areas are personal and technical assistance. The company has 90 employees and the turnover is almost DKK 70 million. Over the last years Euro-Alarm have developed new service offerings but struggled to reach critical volume in its core areas.
‘The business of Euro-Alarm is very similar to that of SOS so the merger will entail great potential for synergies’, says Bo Uggerhøj, CEO of SOS International. ‘The acquisition of Euro-Alarm supports two of SOS strategic goals – i.e. Nordic consolidation and enhancing the efficiency. We therefore expect synergies in many areas, not least the areas of activity such as our 24/7 manning, medical and technical network and IT-Systems.’
‘Service organisations like SOS and Euro-Alarm are very dependent on the extensive competencies of the employees, as we are a knowledge company’, Bo Uggerhøj adds. ‘Employees in both Euro-Alarm and SOS are the greatest assets of the comprehensive growth ambitions that SOS has for the coming years’.
Nordic consolidation is just a part of SOS’ strategy of coming closer to the customers and being able to communicate an even better service. Over the last two years this strategy has entailed an acquisition in Sweden and formation of a company in Finland, and as of now work is carried out to set up a company in Norway in 2008.
The acquisition is subject to necessary authority approval.
SOS International is the leading Nordic assistance company. Since 1961 SOS has rendered service and assistance on behalf of the majority of the Nordic insurance companies. SOS is owned by 22 of the leading Nordic insurance companies. The company has more than 400 employees representing19 nationalities speaking more than 30 different languages. SOS is domiciled in Copenhagen with subsidiaries in Sweden and Finland and 26 local representative offices all over the world. In addition to medical and technical assistance, SOS International offers various products and services within tracking/monitoring, health care and crisis management. Please visit our website www.sos.eu for further information.
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