Acquisition of Excidor AB
Today Lagercrantz Group has acquired all shares in the Swedish company Excidor AB.
Excidor, located in Bollnäs, Sweden, has a strong market position in control systems for mobile operator environments. The company’s solutions are primarily found in forestry machinery, excavators and wheel loaders and generate combined annual sales of just over MSEK 30 with good profitability.
“Excidor is one of the leading players in its niche in the Nordic region. The business has displayed a stable and good performance for several years and the company will be a strong new unit in the Communications division with its new focus segment on control technology,” says Jörgen Wigh, President & CEO of Lagercrantz Group.
Sören Byström, President and a former partner of Excidor: “With Lagercrantz as owner, we get a financially strong and long-term owner, which means that we can continue the development and expansion of the company with full force. We look forward to the opportunity to develop the company as part of the Lagercrantz Group.”
Excidor will form part of the Lagercrantz Communications division as from February 2015. The acquisition is expected to generate a small positive addition to the Group’s earnings per share on an annual basis.
Stockholm, 30 January 2015
Lagercrantz Group AB (publ)
For further information please contact:
Jörgen Wigh, President and CEO, Lagercrantz Group AB, telephone +46 8 700 66 70
Magnus Söderlind, Executive Vice President, Lagercrantz Group AB, telephone +46 8 700 66 70
or visit our website www.lagercrantz.com
This information is disclosed in accordance with the Securities Markets Act, the Financial Instruments Trading Act or according to the agreement with NASDAQ Stockholm Exchange. The information was submitted for publication on 30 January 2015 at 11:30.
LAGERCRANTZ GROUP IN BRIEF
Lagercrantz Group is a technology group that offers world-leading, value-creating technology, using either proprietary products or products from leading suppliers. The group is comprised of some 35 companies, each with a focus on a specific sub-market – a niche. A high value-creation is common to all the subsidiaries, including a high degree of customisation, support, service and other services. Lagercrantz Group is active in seven countries in Northern Europe, and in China.
The Group has approximately 1,100 employees and annual revenue of just over MSEK 2,500. The Company is listed on NASDAQ Stockholm since 2001.