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Abris-backed Global Technical Group acquires Lummetry.AI

Global Technical Group (GTS), a Romanian developer of software for the security industry, backed by Abris Capital Partners (Abris), has acquired Lummetry.AI, a Romanian artificial intelligence business. 

The transaction will further strengthen GTS’s position as a market leader in software solutions for physical security automation.
  
GTS was founded in 2007 and consists of two divisions providing software solutions for the security industry, comprising advanced IoT solutions, building technologies, engineering, automation and energy efficiency, facility management and technical maintenance. GTS is one of the largest players in this sector in Romania, counting most of the largest banks, oil companies, shopping malls, retailers and international manufacturing and distribution companies among its clients. 

Abris invested in the business in 2019 with the aim of accelerating the innovation process and laying the foundations for international expansion. 

Adrian Stanculescu, Partner at Abris, says: “The acquisition of Lummetry.AI is the next exciting step in GTS’s growth story. Already the business has seen an impressive CAGR of nearly 50 per cent in the past five years, and we expect to continue realizing double-digit revenue growth over the next five. The combination of these two teams will help us further improve our offering to clients and build our market-leading position.”

Mihai Stănescu, founder and CEO of GTS, adds: “GTS is differentiated by its ability to develop and integrate different areas in the IoT sector. Over the past two years, alongside Lummetry.AI, we have accelerated the integration of AI algorithms in everything we do, bringing a tremendous advantage to clients, who can benefit from advanced technology even if platforms used were not originally designed to be monitored with advanced software. As part of the value-creation process, Abris has supported the professionalisation of the business, at the same time growing it significantly together with our management team.”

Pawel Gierynski, Managing Partner at Abris, says: “At Abris, we remain committed to our strategy of transforming local players into regional champions. During the pandemic, we saw that digitisation and the transition to cloud services accelerated across most industries. I am therefore extremely proud that our Romanian portfolio company is on the right path to become the leading technology-driven security and service integrator in Central Europe. We look forward to supporting the group as it consolidates its position in the market further.”

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