Lagercrantz acquires Svenska Industriborstar i Västerås AB (SIB)
Today Lagercrantz Group has acquired all shares in the Swedish company Svenska Industriborstar i Västerås AB.
SIB develops, sells and manufactures specially-designed steel and plastic brushes for snow clearance of airport runways and for industrial applications in manufacturing industry. SIB’s cassette brush system is market-leading in North European airports and has a strong position in North America. Exports represent a large part of sales. SIB generates combined annual sales of approximately MSEK 45 with good profitability.
“SIB is a well-established product company with a market-leading position in its niche. As new owner, we intend to continue to concentrate on developing the company’s high-quality cassette brush system as well as other niche brushes. SIB is the seventh niche product company in the build-up of our Niche Products division,” says Jörgen Wigh, President and CEO of Lagercrantz Group.
Caroline Droeser former principal owner of SIB: “Our family began making brushes already at the end of the 19th century and I have personally lived with SIB ever since I was born. The choice of buyer has been important to us. With Lagercrantz, SIB gets a long-term and financially strong owner, which will provide the opportunity to continue the development and expansion of the company with full force.”
SIB will form part of the Lagercrantz Niche Products 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, 16 February 2015
Lagercrantz Group AB (publ)
For further information please contact:
Jörgen Wigh, President and CEO, Lagercrantz Group AB, telephone +46 8 700 6670
Jonas Ahlberg, Vice President Niche Products, Lagercrantz Group AB, telephone +46 8 700 6670
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 16 February 2015 at 13:00.
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.