Lagercrantz Group acquires Nordic Alarm AB and strengthens its position in the growth area technical security
Lagercrantz Group AB has today concluded an agreement to acquire all shares outstanding in Nordic Alarm. Nordic Alarm was founded in 1988. The company is one of the leading players in technical security systems in Sweden. Nordic Alarm is specialised in delivering integrated systems to high-security objects. Among the customers in this area are the Swedish Prison and Probation Service, Central Bank of Sweden, the police authorities, the armed forces, nuclear facilities and leading banks. Nordic Alarm was recently awarded the assignment of equipping the new high-security correctional facility Salberga in Sala with its security system. The project is one of the largest in its kind so far in Sweden with an order value of approximately MSEK 40. The company also has a strong position in retail trade with customers such as Statoil, OKQ8, Coop, ICA and Åhlens. During 2006 the company is expected to have revenues of about MSEK 100 and it has about 50 employees. Sellers are, among others, the founders, Jens Lennen and Arne Gille, and the company’s chief executive, Gunnar Kraft. Lagercrantz Group is already before represented in the area of technical security with the company ISG Systems AB, which delivers camera-based surveillance systems. The position in the area is significantly strengthened by the acquisition of systems integrator Nordic Alarm. Jörgen Wigh, President and CEO of Lagercrantz Group, says in a comment: ”In Lagercrantz we want to build market-leading positions in interesting niches. Technical security is an area that we for a long time have deemed to be attractive and the acquisition of Nordic Alarm is an important step in increasing our exposure to this growth area.” Jens Lennen, founder and vice President of Nordic Alarm, says in a comment: “This is a very important step for Nordic Alarm. We are now given the opportunity to further build the company together with Lagercrantz as an active owner. This will further contribute to Nordic Alarm´s already strong growth and open up possibilities for further expansion, among else through acquisitions.” Possession will be taken as of 3 April 2006 and the acquisition is expected to make a positive contribution to earnings per share during the financial year that begins 1 April 2006. Stockholm, 23 February 2006 Lagercrantz Group AB (publ) For further information, contact: Jörgen Wigh, President & CEO, Lagercrantz Group, telephone +46 8 700 66 70. Niklas Enmark, CFO, Lagercrantz Group, telephone +46 8 700 66 70. Jens Lennen, vice President, Nordic Alarm, telephone +46 8 514 94 901. Lagercrantz Group, which is listed on the O-list of Stockholmsbörsen (the Stockholm Stock Exchange) has revenues of approximately SEK 1.5 billion and has approximately 550 employees. Within well-defined niches and in partnership with customers and producers, the Group offers products and solutions in electronics and communication that contribute to the competitiveness of customers. Lagercrantz Group is a leading player on the Nordic market and also has operations in the United Kingdom, Germany, Poland, Switzerland and Hong Kong. Lagercrantz Group consists of the parent company Lagercrantz Group AB with its two divisions Electronics, Production Services and business areas Digital Image Transmission, Communication, HeathComm and Software.