ZGI Capital has successfully divested its investment in Echoo Group to Nordomatic AB, the leading provider of Building Management Systems, ensuring continued growth and stability for the business.

Target Information

ZGI Capital’s Fund IV has successfully divested its investment in Echoo Group by selling its stake to Nordomatic AB, the world’s leading provider of Building Management Systems (BMS). Glebs Kisielovs, the CEO of Echoo Group, will continue to lead the company as part of Nordomatic’s ownership, ensuring ongoing operational stability and the continued growth of the business.

Nordomatic is recognized as the largest independent integrator of building automation systems globally, offering smart building management and energy efficiency solutions. With its headquarters in Stockholm, Sweden, the company operates in eight countries, including Scandinavia, the United Kingdom, the United States, and India, employing over 1,200 professionals. Nordomatic's extensive experience and international expertise will enhance the BMS solution offerings in the Latvian market and foster further growth for Echoo Group.

Industry Overview

The building automation industry is experiencing significant growth globally, driven by increasing demand for energy-efficient solutions and smart building technologies. In L