In this Research Note, we examine the Salto Systems business, based on their recent activities, 2022 revenues, M&A strategy, product innovation and target markets. This article updates our previous analysis of March 2022. Founded in 2001 and headquartered in Oiartzun, Spain, Salto Systems is a manufacturer of electronic locks and access control solutions. The group has 1,500 people from 80 countries working in over 40 offices around the world. Salto Systems Investment History Florac, a French investment vehicle wholly owned by the Meyer family, took a minority stake in SALTO in October 2020 alongside existing shareholders such as Alantra and new investors including Sofina and Peninsula Capital. Financial investors hold a combined 30% stake, with the remainder retained by SALTO’s founding members and managers (60%) and private investors (10%). Acquisitions Inorganic growth has played a large role in Salto’s strategy. The funds raised through the minority stake in 2020 allowed SALTO to acquire Gantner Electronic, […]