Lagercrantz acquires R-Contracting AB
Lagercrantz Group has today acquired the Swedish company R-Contracting AB.
R-Contracting develops and markets pumping systems for sprinkler installations. The company also has some engagements in infrastructure-related pump or hydropower projects. Most sales take place in Sweden but the company also has some sales in Norway and Denmark. The company operations are based in Norrköping and it generates annual sales of about MSEK 110 with good profitability.
“At Lagercrantz, we want to build businesses with leading market positions in interesting niches. R-Contracting is the leading player in its niche in Scandinavia. The business has displayed a stable and good performance for many years and the company will be another strong unit in the Communications division with its focus on technical security,” says Jörgen Wigh, President and CEO of Lagercrantz Group.
Kristofer Runo, Chairman of the Board and part-owner of R-Contracting: “We have worked with sprinkler pump systems for a long time. Our solutions, which focus on quality and simplicity in installations are appreciated by our customers. With Lagercrantz, R-Contracting will gain good opportunities for further development in order to meet our customers’ future needs.”
The management team in the company will remain the owner of 9 percent of the shares, including mutual call and put options.
R-Contracting will form part of the Lagercrantz Communications division as from June 2017. The acquisition is expected to generate a small positive addition to the Group’s earnings per share on an annual basis.
Stockholm, 15 June 2017
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 15 June 2017 at 14:30 CET.
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 45 companies, each with a focus on a specific sub-market – a niche. High value-creation is common to all the companies, including a high degree of customisation, support, service and other services.
Lagercrantz Group is active in nine countries in Northern Europe, in China, India and in the USA. The Group has approximately 1,250 employees and annual revenue of about MSEK 3,000. The Company is listed on Nasdaq Stockholm since 2001.