Lagercrantz acquires Kondator AB
Today Lagercrantz Group has acquired all the shares of Kondator AB.
Kondator develops and markets accessories for offices and workplaces. Customers mainly consist of office furniture manufacturers, distributors and resellers of office furniture with an ergonomic focus. The majority of sales are generated in Sweden, but Kondator’s exports are increasing to the Nordic region and to the rest of Northern Europe. The company’s operations are based in Tyresö outside Stockholm and it generates annual revenues of about MSEK 60 with good profitability.
“Lagercrantz acquires and develops businesses with leading positions in interesting niches. Kondator has shown good profitability for several years and is well-established in its niche. We intend to support the company’s ambition to develop and expand its business operations,” says Jörgen Wigh, President and CEO of Lagercrantz Group.
Jan Westerlund, founder: “Kondator has performed strongly since the business was established 30 years ago. The product range has developed over time and for the past 15 years we have focused on the current range, which mainly consists of proprietary products. With Lagercrantz as owner, I am certain that we will be able to continue the positive development of Kondator.”
Kondator forms part of the Lagercrantz Niche Products division from April 2016. The acquisition is expected to generate a small positive addition to the Group’s earnings per share on an annual basis.
Stockholm, 27 April 2016
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 and Head of Business Development, Lagercrantz Group AB, telephone +46 8 700 66 80,
or visit our website www.lagercrantz.com
The information was submitted for publication on 27 April 2016 at 13:40.
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 40 companies, each with a focus on a specific sub-market – a niche. Strong value creation is common for all companies as well as a high degree of customisation, support and other services.
Lagercrantz Group is active in seven countries in Northern Europe, in China and in the USA. The Group has approximately 1,200 employees and annual revenue of about MSEK 3,000. The Company is listed on Nasdaq Stockholm since 2001.