MCF advised Tutus Data on its sale to Formica Capital-backed C-Resiliens, a new Nordic leader in cyber, encryption and network security
Established in 2022, C-Resiliens’ vision is to use innovation to protect against digital vulnerabilities. The business, backed by Formica Capital and Nicklas Storåkers, plans to invest SEK 1 billion in next generation secure communication solutions for the public and private sectors. The acquisition of Tutus Data represents a key step in C-Resiliens’ strategy of supporting innovation through organic and inorganic growth.
The Target
Tutus Data, founded in 1992, is Sweden’s leading encryption and network security company, providing high-quality network solutions for use in military, government, and corporate IT applications. Tutus is the main supplier of government approved and certified IT-security products in Sweden, with all products having been approved at the restricted/restraint classification level on the EU and national levels. The company generated turnover of SEK 211m and an EBIT of SEK 40m.
About C-Resiliens
C-Resiliens is a cyber security group founded in 2022. The vision is to eliminate society’s digital vulnerability through investments in new innovations. The company focuses on next generation turn-key secure communications solutions for defence, public sector and other businesses and organisations that are critical to society in Sweden and in the EU.
About Formica Capital
Formica Capital is a Swedish investment company with a long-term ownership strategy. It is owned by the Olsson Eriksson family. Formica Capital creates value by being an active owner in profitable and long-term sustainable companies, that positively impacts society.
