Swedish ISEC Monitoring Systems and the German DEKRA group have signed an agreement for ISEC to acquire DEKRA Visatec, a leader in inspection services and camera solutions for the nuclear industry worldwide. Through the merger, the companies will form a combined company with approximately €10 million in annual turnover by offering a broad and complementary portfolio of both in-air and underwater CCTV camera solutions to an expanding customer base.
DEKRA Visatec, headquartered in Sulzberg, Germany, is a full-service provider of visual inspection services and camera solutions for mainly the nuclear industry, but also the chemical and oil and gas industries. It is a successful and profitable company within the DEKRA Group.
“The reason for the transaction is DEKRA’s strategic decision to focus exclusively on providing high-quality testing and inspection services and to divest itself of product development and production activities,” says Achim Hetterich, CEO at DEKRA Incos and DEKRA Visatec. “ISEC has a strong and stable ownership base and a long history of delivering high-quality camera solutions for the nuclear industry – and we have great confidence that they are the right partner for DEKRA Visatec – and for developing their joint business going forward. We know and respect each other from the nuclear industry, and now we are excited to see what these two great companies can accomplish together.”
The merger of ISEC and DEKRA Visatec enables multiple advantages in the companies’ complementary offerings, market segments, and customer base. The two companies will together be able to offer a full CCTV offering to customers on a global scale.
“We are very much looking forward to our merger as DEKRA Visatec is a well-respected and successful company with a long history of delivering high-quality inspection products and systems. We expect significant advantages and strong complementarity between ISEC and Visatec in the areas of product development, quality, and supply. We will ensure that these lead to clear benefits for our customers in the future. Since we are both highly technology-driven with a similar corporate culture, we will be able to quickly create a strong combined business with a broader offer and within new segments – a one-stop-shop for our customers,” says Fredrik Sjöholm, CEO at ISEC.
ISEC primarily offers visual monitoring through fixed installations monitoring processes in critical facilities during operation. DEKRA Visatec focuses on solutions used during services and inspections with, among other things, self-developed underwater cameras and other relevant products, such as lighting and underwater inspection vehicles. Together the merger of ISEC and Visatec will be able to offer a full suite of products and solutions used both during operation and during service and maintenance outages.
The acquisition will be integrated from January 1, 2025. ISEC and Visatec will continue to operate as two brands with a joint and broader product portfolio. ISEC’s CEO Fredrik Sjöholm will become CEO also of Visatec, which in the future will operate under the new name ISEC Visatec GmbH. Visatec’s activities will be supported by DEKRA’s management team over a transfer period to ensure a smooth transition for employees and customers.
“As main owner in ISEC, we are happy to support this acquisition as it provides ISEC with a launch pad for growth and opportunities in and beyond the nuclear sector. We believe the combination of the two companies will make a difference from the very start of the merger,” says Stefan Persson, CEO and President of Sandberg Development.
