Defensor Group is to become a majority shareholder in the Swedish technology company Crepitans AB through an investment carried out via a directed share issue. This is stated in a press release from Defensor.
Crepitans was founded by a research team with backgrounds from the Swedish Defence Research Agency (FOI) and works with technologies in energetic materials, flow chemistry, and battery systems for military use. The company also develops systems for the clearance of mines and unexploded ordnance, as well as mobile factories for the production of explosives.
According to Defensor, the investment will enable Crepitans to scale up its operations and build industrial capacity.
"Crepitans possesses expertise that takes decades to develop and is critical to Swedish and European defence capability. Our task is to provide the team with the long-term conditions required for their technology to be developed, scaled, and made available to the Swedish Armed Forces (Försvarsmakten) and our allies," says Defensor Chief Executive Officer Niclas Colliander in the press release.
Crepitans Chief Executive Officer Patrik Krumlinde describes the investment as a way to accelerate the company's development.
"With Defensor, we gain an owner that combines entrepreneurial drive with long-term industrial thinking and a clear understanding of the defence sector's requirements," he says.
In connection with the transaction, the Crepitans founding team will also become minority shareholders in Defensor. The deal is, according to the company, conditional upon customary regulatory approvals.