Ajax Systems, a manufacturer of professional security systems in Ukraine, has opened a second plant in Kyiv on the territory of the former Kyiv Radio Plant and plans to switch its employees to 24/7 working hours.
According to the company’s website, the area of the premises is 1,865 square meters.
“Next year we plan to double the business, for this we need another production site. We decided to open it in Boryspilska Street, where a large production cluster already exists. This location will also allow us to attract more employees from the Left Bank of Kyiv and build a large production facility team faster,” CEO of Ajax Systems Oleksandr Konotopsky said.
Ajax Systems plans to recruit 150 people in 2020 for the new facility. Next year it is planned to create up to 1,000 jobs.
The company also said that the new plant is now focused on the production of DoorProtect and DoorProtect Plus sensors, but in the future both Ajax enterprises will duplicate each other in design and manufacture the entire product line.
“Now in Boryspilska Street we have launched 24/7 testing, arrangement and assembly, quality control and packaging. In the future, we plan to transfer all sites to the 24/7 schedule,” Director of Production at Ajax Systems Bohdan Demchyshyn said.
Cypriot Dealbeta Investments Limited, created by Emerging Europe Growth Fund III (EEGF III) managed by Horizon Capital, jointly with an individual-citizen of Ukraine, plan to acquire a controlling stake in Cypriot Ajax Cyprus Holding Ltd., a leading producer of smart security systems in Ukraine. According to a website of the Antimonopoly Committee of Ukraine (AMCU), the committee will consider an issue of acquisition of Ajax Systems Cyprus Holding Ltd by Dealbeta Investments at its meeting on September 12, 2019.
Besides, the committee will consider an issue of acquisition of Ajax Systems trading DMCC (UAE) by Dealbeta Investments jointly with an individual-citizen of Ukraine.
As reported, Horizon Capital’s Emerging Europe Growth Fund III, LP (EEGF III) has acquired a minority stake in Ajax Systems for $10 million.
In January 2019, Horizon Capital announced that Horizon Capital created the largest equity fund in Ukraine over the past 10 years: EEGF III with $200 million.
Horizon Capital was established in 2006. It manages private equity funds Western NIS Enterprise Fund (WNISEF, established in 1994 with a seed capital of $150 million), Emerging Europe Growth Fund, L.P. (EEGF, established in 2006 with a seed capital of $132 million) and EEGF II (EEGF, established in 2008 with $370 million seed capital). The money of these funds is invested in projects in Ukraine, Moldova, and Belarus.