Strategic Divestment and Synergy: How Trifork's Move to Sell 51% of Trifork Security to Wingmen Strengthens Long-Term Value and Market Position

In the ever-evolving landscape of cybersecurity and IT infrastructure, strategic corporate restructuring has become a critical tool for companies to remain competitive. Trifork Group AG's recent decision to divest 51% of its cybersecurity subsidiary, Trifork Security A/S, to Wingmen Solutions ApS exemplifies this trend. This transaction, finalized in August 2025, is not merely a financial maneuver but a calculated step to amplify cross-industry synergies, enhance market positioning, and unlock long-term value in a sector poised for exponential growth.

Strategic Corporate Restructuring: Deconsolidation and Capital Reallocation

Trifork's decision to reduce its ownership in Trifork Security from 84.6% to 41.5% reflects a broader strategy to streamline operations and focus on core competencies. By deconsolidating Trifork Security from its income reporting and classifying the remaining stake as a financial asset under Trifork Labs, the company is reallocating capital to high-potential ventures. This move aligns with Trifork's 2025 cost-saving program and its EUR 10 million initiative to improve margins. The divestment also allows Trifork to concentrate on its Build and Run segments, which accounted for 72.5% and 23.8% of 2024 revenue, respectively, while exiting non-core conference activities in the Inspire segment.

The transaction's structure—subject to regulatory approval and including an option for Wingmen to acquire the remaining 41.5% in 2027—provides Trifork with flexibility. It ensures continued exposure to Trifork Security's growth through Trifork Labs, which has already demonstrated success in scaling investments (e.g., EUR 13.3 million in EBT from portfolio companies in 2024). This approach mirrors Trifork's historical strategy of leveraging minority stakes to fuel innovation without diluting operational focus.

Cross-Industry Tech Synergy: A Unified Cybersecurity Ecosystem

The partnership between Trifork Security and Wingmen Solutions ApS is a masterclass in cross-industry collaboration. Trifork Security, an elite Splunk and CrowdStrike partner, brings expertise in log management, observability, and threat detection. Wingmen, a leading Cisco partner in Denmark, specializes in secure IT infrastructure, networking, and cloud solutions. Together, they form a comprehensive ecosystem addressing the full spectrum of cybersecurity and IT needs—from real-time threat monitoring to resilient infrastructure design.

This synergy is particularly timely. With the implementation of the EU's NIS2 directive in July 2025, organizations face stricter requirements for risk management and incident reporting. The combined entity's ability to offer end-to-end solutions—such as Splunk-powered observability integrated with Cisco's zero-trust architecture—positions it as a go-to partner for enterprises navigating regulatory complexity. Mads Vigh, CEO of Trifork Security, emphasized that the partnership complements their “number one market position in Splunk” with Wingmen's “deep Cisco expertise,” enabling scalable expansion into international markets.

Market Position and Long-Term Value: A Global Play in a High-Growth Sector

Denmark's cybersecurity market, valued at EUR 1.2 billion in 2025, is projected to grow at a CAGR of 8.5% through 2030, driven by digital transformation and regulatory pressures. By consolidating their offerings, Trifork Security and Wingmen are well-positioned to capture a significant share of this growth. The partnership's emphasis on 24/7 security operations, AI-driven threat detection, and compliance-ready infrastructure aligns with global trends, particularly in sectors like healthcare (e.g., Trifork's recent Oman RCM project) and public sector IT.

Financially, the transaction supports Trifork's 2025 guidance of EUR 215–225 million in revenue and EUR 32–37 million in adjusted EBITDA. The divestment's proceeds, combined with Trifork Labs' EUR 100+ million in portfolio revenue, provide a buffer for innovation in AI and spatial computing—sectors expected to drive future revenue. Meanwhile, Wingmen's access to Trifork's technical talent and Splunk certifications accelerates its ability to deliver cutting-edge solutions, enhancing its competitive edge in the Springboard Network.

Investment Implications: A Win-Win for Stakeholders

For investors, this transaction underscores Trifork's agility in adapting to market dynamics. The company's 2024 net profit of EUR 17.9 million, despite a 0.9% revenue decline, highlights its resilience. The share buyback program (EUR 2.0 million in 2025) and cost-saving initiatives further signal confidence in long-term growth. Meanwhile, the cybersecurity sector's projected 12% CAGR through 2030, as per Gartner, suggests that Trifork's strategic pivot into managed security services is well-timed.

However, risks remain. Regulatory hurdles in the 2027 share acquisition and potential integration challenges between Trifork Security and Wingmen could delay synergies. Investors should monitor Trifork's 2025 EBITDA margins and the performance of its new product offerings, such as Corax AI and Contain hosting platforms, to gauge the divestment's impact.

Conclusion: A Strategic Bet on Synergy and Resilience

Trifork's sale of 51% of Trifork Security to Wingmen is a strategic masterstroke. By leveraging cross-industry expertise, the partnership creates a robust cybersecurity ecosystem capable of addressing modern threats and regulatory demands. For Trifork, the move frees capital for innovation while retaining upside through Trifork Labs. For Wingmen, it accelerates market dominance in Denmark and beyond. In a sector where collaboration is key, this transaction sets a benchmark for value creation—and offers investors a compelling case for long-term optimism.