In April 2001, SEAF invested in Teletek Electronics, a successful electronics manufacturer specializing in alarm systems. At the time, Teletek was looking to expand its business to become a one-stop supplier of manufacturing and engineering services to Bulgarian and Western European customers. To meet this goal, Teletek required new equipment and an intensive marketing outreach to attract new international clients. To help Teletek meet this objective, SEAF provided the company with an equity investment and extended a long-term credit line.
Entering the International Market
In 1991, Teletek Electronics launched as an alarm systems installer in Sofia, Bulgaria. Encountering intense competition, Teletek sought financing from SEAF to expand into a distributor of imported alarm products and electrical equipment, thus differentiating itself from its competitors. In February 2004, Teletek presented its products and services at SECUR 2004, a trade show and security exhibition in Madrid, Spain. As a testament to the company’s growth and its success at the exhibition, Teletek signed four clients from Spain, Portugal, Algeria and Slovenia, all four of which placed initial orders following the event.
An Industry Leader
In July 2004, SEAF successfully exited Teletek through the sale of its interest to another company shareholder. Over the life of the investment, SEAF helped Teletek increase in both size and scope and successfully enter the international market. Today, Teletek continues to operate at the top of the industry, regularly creating, researching and implementing new approaches to better intruder and fire security products.