Lagercrantz acquires Wapro AB
Lagercrantz Group has today acquired all shares in the Swedish company Wapro AB.
Wapro’s innovative products prevent and regulate water flows in order to protect properties and infrastructure from flooding during storms and rising water levels. Wapro’s head office is located in Karlshamn and the company has a subsidiary in Chicago, USA. Wapro generates annual revenue of approximately MSEK 40 with good profitability and has sales in Europe, North America and Australia.
“Lagercrantz acquires and develops businesses with leading positions in interesting niches. With products that prevent and mitigate the effects of flooding in a time of climate change, we see great growth potential in Wapro. As new owner, we will support the company in its ambition to develop and expand its operations,” says Jörgen Wigh, President and CEO of Lagercrantz Group.
Mats Persson, founder: “With good products, Wapro is becoming increasingly well-known around the world and the business is about to begin an international expansion. With Lagercrantz’s support, I feel confident that the business can continue to develop positively for the benefit of both the market and customers, and also for employees and owners.”
Wapro will form part of the Lagercrantz Niche Products division as from July 2017. The acquisition is expected to generate a small positive addition to the Group’s earnings per share on an annual basis.
Stockholm, 6 July 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 6 July 2017 at 16:00 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 almost 50 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 1,300 employees and annual revenue of about MSEK 3,000. The Company is listed on Nasdaq Stockholm since 2001.