Cinven completes investment in Pronet
European private equity firm Cinven today announces the completion of its acquisition of a majority stake in Pronet Güvenlik ('Pronet' or 'the Company'), a leading provider of monitored security alarm systems in Turkey.
Pronet installs and monitors residential and commercial alarm systems, as well as installing integrated electronic systems. It has more than 130,000 residential and commercial subscribers across Turkey and has a recurring revenue stream from its installed customer base. In the past four years, its subscriber base has grown by a CAGR of more than 40%.
Cinven's investment in Pronet demonstrates its ability to identify strongly performing European-based companies, through its sector expertise and European network, with significant international growth opportunities.