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Expansion of the security segment wholesale business through the acquisition of shares in companies

Written by Customer Service on . Posted in Mergers And Acquisitions.

The security segment of TKM Grupp AS is expanding its operations across the Baltics by establishing a subsidiary in Latvia and acquiring companies engaged in the wholesale distribution of security systems in Estonia, Latvia and Lithuania.

In 2023, TKM Grupp AS acquired a 100% shareholding in Walde AS, a company engaged in the wholesale distribution of security systems in Estonia (stock exchange announcement of 23 December 2022). On 16 October 2026, Walde SIA, a 100% subsidiary of Walde AS, was entered in the Commercial Register of the Republic of Latvia. The share capital of Walde SIA is 2,800 euros. The planned principal economic activity of the new subsidiary is also the wholesale distribution of security systems. The member of the Management Board of the new subsidiary is Sander Sasi, who is also a member of the Management Board of Walde AS.

On 16 October 2026, Walde AS and Walde SIA entered into an agreement for the acquisition of a 100% shareholding in three companies:

  • SIA Evidence Network, a company operating in the Republic of Latvia, with a registered share capital of 2,840 euros divided into 10 shares with a nominal value of 284 euros per share;
  • Evidence Network Eesti OÜ, a company operating in the Republic of Estonia, with a registered share capital of 2,000 euros divided into two shares; and
  • UAB Evidence Network Lietuva, a company operating in the Republic of Lithuania, with a registered share capital of 25,000 euros divided into 1,000 shares with a nominal value of 25 euros per share.

The principal activity of the companies being acquired is the wholesale distribution of security systems, and they act as distributors for several well-known manufacturers (Panasonic Eco Solutions Nordic AB, Robert Bosch AB, Dahua Technology (HK) Limited, Schneider Electric Latvija SIA, Optex, Inner Range, Teletek, HID, Keenfinity Sweden AB and others). The acquisition of the shares enables TKM Grupp to strengthen its security technology wholesale business, which has been one of the fastest-growing and expanding business areas of the Group. The transaction creates opportunities to introduce new products to the market and to develop the wholesale distribution of security systems into a pan-Baltic business. In 2025, the companies being acquired generated sales revenue of 14.1 million euros and a profit of 0.7 million euros. In 2025, Walde AS generated sales revenue of 3.2 million euros and a profit of 0.25 million euros.

The business activities of the companies being acquired will continue unchanged and no changes will be made to the workforce in connection with the transaction. The share purchase agreement provides for the completion of the transaction upon receipt of the necessary approval from the Competition Authority and completion of additional actions.

The establishment of the subsidiary and the transaction described above are not deemed to constitute the acquisition of a qualifying holding or a transaction with a related party within the meaning of the “Requirements for Issuers” section of the Rules and Regulations of the Nasdaq Tallinn Stock Exchange and have no material effect on the consolidated financial results of TKM Grupp AS. The members of the Supervisory Board and the Management Board of TKM Grupp AS have no other personal interest in the transactions.

Raul Puusepp
Chairman of the Board
Phone +372 731 5000
info@tkmgrupp.ee

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