European Union
Halma Achieves Solid 9.5% Safety Sector Growth Reaching £902m
June 30th, 2025Zehnder Group Strengthens Indoor Air Quality Portfolio with 2025 Airthings Acquisition
June 24th, 2025
Elatec Acquired by Allegion to Augment Access Control Portfolio
In this Research Note, we look at what’s behind Allegion’s acquisition of Elatec GmbH, a German manufacturer of security and access technology, specializing in RFID credentials and reader solutions. We highlight the transaction details and strategic rationale before examining their financial development since 2020, recent acquisitions, and private equity ownership. Elatec Profile Founded in Puchheim […]
Vitaprotech’s 2025 Consolidation: New 4-Channel Strategy Simplifies Structure
This Research Note examines the strategic reorganization of the French security solutions player, Vitaprotech, following its buy-and-build strategy with 13 acquisitions completed over the last 5 years, the most recent of which was Identiv in April 2024. This article highlights the group`s simplified go-to-market approach based on 4 distinct sales channels. Vitaprotech Group Profile Created in […]
Energisme’s New 2025 Services Strategy Targets Positive EBITDA
This Research Note examines Energisme, the French energy performance software firm listed on the Euronext Growth market since July 2020. We highlight their 2024 financial results and 2025 outlook, based on their 23rd April and 26th February press releases and 2024 Annual Report. This article updates our previous Research Note in May 2023. Energisme Profile […]
learnd SE Reports Strong 73% Revenue Growth
In this Research Note, we examine learnd SE, a Luxembourg public company operating in the UK and Ireland as a BMS integrator and energy management service provider. We focus on their 2024 financial results, announced on 30th April 2025, 2024 Annual Report, and Annual Results Presentation. This article updates our previous coverage of learnd’s buy-and-build […]
Trade Tensions in 2025: Smart Building Market Fragmenting?
2025 has so far been a year defined by international trade tensions, triggered by the economic policies of US President, Donald Trump. The consequences of these tensions go beyond the daily headlines, and we are continuing to see major impacts across the global economic landscape, including all major smart building markets. Recent macroeconomic indicators highlight […]
Beckhoff Predicts Recovery after Posting 33% Decline in 2024 Revenues
In this Research Note, we examine Beckhoff, a German family-owned industrial automation business, and its reaction to a sharp decline in 2024 revenues, announced on 31st March 2025. We also highlight a recent partnership and deployment in its building automation division. This article updates our previous coverage of the company in October 2024. Beckhoff Automation […]
aedifion’s AI HVAC Optimization Platform Reports Solid Growth in 2024
In this Research Note, we examine aedifion, a German AI HVAC optimization startup which has over 400 buildings under management, accounting for more than 4.2 million square metres. aedifion Profile aedifion GmbH is a startup based in Cologne, Germany, offering an AI-enabled platform for energy optimization in non-residential buildings. The firm was established by Dr.-Ing. […]
LumenRadio’s 73% Growth in Building Controls Segment Reveals Strategic Shift in 2024
This Research Note examines the wireless IoT business of LumenRadio AB, a Swedish public company listed on Nasdaq First North Growth market. We focus on the company’s 2024 financial highlights and business segment results, based on their Year-End Report 2024, published 26th February 2025. We previously covered the company IPO in 2022, and 2023 financial […]
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