Swedish industrial group Storskogen Group AB (STO: STOR-B) announced on Friday that it has acquired a majority stake in Safi Equipment and Services, a Singapore-based provider of fire safety installation and maintenance services.

Safi has operated for more than 40 years and serves commercial, retail and industrial buildings, generating stable recurring revenue through long-standing customer relationships. The business operates in a regulated sector where compliance requirements are expected to increase, supporting long-term demand.

Storskogen said the acquisition aligns with its strategy to build a stronger presence outside Sweden and builds on its position in technical fire safety services. In Asia, Storskogen employs around 900 people and generates approximately SEK1bn in net sales.

Safi will join Storskogen's Infrastructure Services vertical within the Services business area. The transaction completed on 15 May 2026 and is expected to have a marginally positive impact on Storskogen's earnings and EBITA margin.