EQT I bought TAC from Incentive AB in 1998.
TAC develops, manufactures and markets HVAC control systems and access & security systems for commercial properties across the world.
During EQT’s ownership TAC pursued a growth strategy, including the acquisitions of companies in the US, Denmark, Norway and Finland. This strategy transformed TAC from being a regional company to becoming a global technology leader in information technology for building management. TAC’s turnover quadrupled between 1997 and 2002, reaching 3,151 million SEK in 2002.
In 2003 EQT I sold TAC to Schneider Electric.
Key events during EQT's ownership
- Acquisition of Danfoss competing business in Denmark and Sol berg & Andersin in Norway
- Strong focus on operating costs and to get critical mass in production and R&D
- Completed two major US acquisitions (CSI and CS), when also EQT II came in as owners