Paul and Willi created a company to monitor and detect issues in mission-critical communication alarm links.
Permaconn Today – Permaconn is the market leader in providing secure signaling technology and monitoring services to the alarm security industry where connectivity is mission-critical and is often insurance and police mandated. Permaconn has over several hundred thousand subscriptions across Australia and New Zealand. Permaconn’s unique expertise in combining software, hardware, and network technology enables the company to be the first to monitor and detect security issues in business-critical communication links.
The Beginning – After starting and selling a leading electronic security signaling business in South Africa, Paul immigrated to Australia and teamed-up with Willi, a Swiss-born computer engineer to co-found Permaconn, Australia’s first mobile monitored security alarm signaling system. Permaconn rose to prominence during the 2G to 3G conversion and the recent National Broadband Network roll-out, by being the clear technology leader and innovator with a succession of first-to-market launches that improved security and ease of use such as over-the-air upload/download, web-based remote management, integrated 4G/WiFi capability, and a mobile user app.
Transaction Reason – Willi, was looking to step-away from the business, while Paul wanted to find the right long-term partner to grow Permaconn. Paul did not want a typical PE fund.
Why Norland – Norland facilitated Willi’s exit and Paul chose Norland due to Norland’s entrepreneurial cultural fit, longevity of capital, industry know-how, and track-record of investing in people and products. Paul retained a sizeable equity position alongside Norland and continued to be the CEO, believing that Permaconn’s best days are still ahead.
Since Norland’s Investment – Built a senior team around Paul (including the CTO, CFO, and Head of Corporate Development) to alleviate him from having to wear multiple hats and to enable him to focus on the area of the business that he enjoys the most – product development. Working together, Paul and Norland have increased headcount by more than 50%, moved and tripled the size of the new HQ to accommodate growth, upgraded systems and infrastructure, improved sales & marketing, and launched two industry-first award-winning products.
Future – Permaconn is growing subscription revenues at >20% annually and is expanding across Asia and growing outside of alarm security into other mission-critical communication verticals.
For more info, visit https://www.permaconn.com/.