Cresto Group has entered into an agreement to acquire all shares in Safetime, spol. s r.o. in Slovakia. The company has 32 employees and is one of the market leaders in central Europe. This acquisition will accelerate Cresto Group’s internationalisation and further strengthen the Group’s production capability as well as position towards core business segments such as Utilities and Wind Energy.
Safetime develops, manufactures and sells personal fall protection equipment, training, services and installed fall arrest systems. A range of high-quality personal fall protection products are marketed under their own brand Safetime®.
“We have a long history of co-operation with Safe Time, and the company’s well-established brand and deep product knowledge will strengthen our business area for safe work at heights, Cresto Group. Our goal is to become the leading European specialist of complete fall protection and rescue solutions – and the acquisition of Safetime is a strategic part of that journey,” says Patrik Malterling, Head of Cresto Group.
“We look forward to becoming a part of Cresto Group and their journey towards the goal of being the leading European specialist in complete fall protection and rescue solutions,” affirm the sellers, Juraj and Helena Uherek. “Safetime fits well into Cresto Group’s and Bergman & Beving’s business model, where entrepreneurial companies can continue to develop with support from a strong owner.”
The Cresto Group now consists of three specialist fall protection companies and three premium product brands.
The closing is expected to take place in January 2021.
Halmstad, Sweden, 23 November 2020
For further information, please contact:
Patrik Malterling, CEO Cresto Group, phone: +46 705 38 38 83