Acquisition of Asept International AB
Today Lagercrantz Group has acquired all shares in the Swedish company Asept International AB.
Asept is a niche product company offering dispensing systems that are mainly used for liquidised foods. The patented products are utilised by global food product manufacturers, restaurant chains and by other sectors that need customised packaging and dispensing solutions. Use of Asept's products minimises the need for preservatives, reduces customer costs, enhances exposure potential for food product manufacturers and delivers improved hygiene control. Asept generates total annual sales of about SEK 65 million, based on good profitability.
“Asept is a company with a leading position in its market niche and thus fits in well with our ambitions in the Niche Products division. Asept has displayed an innovative, stable and strong performance over a long period of time. As new owner, our intention is to continue developing the business based on the company's strong existing platform.” commented Jörgen Wigh, President and CEO of Lagercrantz Group.
Sten Drennow, CEO and owner of Asept: “With Lagercrantz as owner, Asept gains a financially-strong and long-term owner, providing even better opportunities to continue developing and expanding the company.”
Asept will form part of the Lagercrantz Niche Products division as from August 2013. The acquisition is expected to generate a small positive addition to the Group's earnings per share on an annual basis.
Stockholm, 16 August 2013
Lagercrantz Group AB (publ)
For further information please contact:
Jörgen Wigh, President and CEO, Lagercrantz Group AB, tel +46 70 569 5477
Jonas Ahlberg, Vice President, Niche Products Division, Lagercrantz Group AB, tel +46 76 790 4400
This information is being published in accordance with the Act on Trading in Financial Instruments or the regulations of NASDAQ OMX Stockholm. The information herein was provided for publication at 1:05 p.m., 16 August 2013.
LAGERCRANTZ GROUP IN BRIEF
Lagercrantz is a technology group in the areas of electronics, electricity, communication and related fields. The Group’s companies deliver all its specialised products and solutions to other companies (B2B) and several of the companies are world-leaders in their respective niches. Lagercrantz is active in seven countries in Europe and in China. The Group has about 950 employees and revenue of approximately MSEK 2,500. The Company’s shares are listed on NASDAQ OMX Stockholm since 2001.
The business is organised in four divisions. Division Electronics offers special products in embedded electronics, industrial wireless communication, RFID and lighting control. Division Mechatronics offers electric connections systems, electric installation materials, electric and electro-mechanical components and cabling. Division Communications offers products, systems, services and support in network access, digital image transmission/technical security, and software. Division Niche Products is the Group’s new division from April 2012. Here a number of interesting market positions will be built up primarily by acquiring profitable companies in interesting niches and with a large element of proprietary products.