Lagercrantz Group acquires Vanpée & Westerberg A/S
Lagercrantz Group has today acquired all shares in the Danish company Vanpée & Westerberg A/S.
Vanpée & Westerberg A/S is a value-creating distributor of electric products within lighting automation and over-voltage protection. The company offers a niche line of products combined with high technical competence. Vanpée & Westerberg A/S had sales 2009/10 of MDKK 30 with good profitability.
"Vanpée & Westerberg is an interesting addition to Lagercrantz. The company has a strong market position in its niche in Denmark and has good prospects for continued progress and development” says Jörgen Wigh, President and CEO of Lagercrantz Group.
Lars Haslund Neerskov, MD of Vanpée & Westerberg A/S: “With Lagercrantz as owner, Vanpée & Westerberg gets a long-term owner which provides opportunities for growth and further expansion.”
Vanpée & Westerberg will be part of Lagercrantz’ division Electronics. The acquisition is expected to provide a small, positive contribution to earnings per share during the 2010/11 financial year, ending in March 2011.
Lagercrantz has during 2010/11 so far acquired businesses with yearly revenue of approximately MSEK 240.
Stockholm October 13, 2010
Lagercrantz Group AB (publ)
This information is disclosed in accordance with the Securities Markets Act, the Financial Instruments Trading Act or according to the agreement with NASDAQ OMX Stockholm Exchange. The information was submitted for publication on 13 October at 14:15.
LAGERCRANTZ GROUP IN BRIEF
Lagercrantz Group is a technology group in electronics, electrics, communication and adjacent areas. The Group operates in a decentralised mode with value-creating sales in close proximity to its customers and markets and has a leading position in several expansive niches.
Operations are organised in three divisions. Division Electronics is primarily involved in marketing solutions in wireless industrial communication and embedded systems. Division Mechatronics offers electro-mechanical components and production of cable harnesses, electrical connection, electrical installation material and guy wires and road barrier ropes. Division Communications provides solutions in digital image transmission/technical security, design software and access products. Manufacturing companies are the primary customers. Lagercrantz is today represented in eight countries in Northern Europe, and in China.
The Group has sales of just short of MSEK 2,800 and has approximately 600 employees. Lagercrantz is listed on NASDAQ OMX Stockholm Exchange, segment Small Cap. Additional information is available at www.lagercrantz.com.
For additional information, please contact:
Jörgen Wigh, President & CEO, Lagercrantz Group, telephone +46 8 700 66 70, or the company website at: http://www.lagercrantz.com