Lifco acquires the majority of the US based company Solesbee's
Lifco has signed an agreement to acquire the majority of the US based company Solesbee’s, a leading supplier in the field of attachments to the excavator and skidsteer loader industry.
Solesbee’s develops and supplies products such as excavator thumbs, mechanical pulverizers as well as other excavator and skidsteer products. The company is mainly targeting the North American market.
Solesbee’s was founded in 1993 and is located in Georgia in the US. In 2016, Solesbee’s reported net sales of approximately 11 MUSD. The company employs around 35 people and will be consolidated in Business Area Demolition & Tools.
The acquisition will not have any significant effect on Lifco’s earnings or financial position in current financial year.
Please visit www.solesbees.com for further information.
For more information please contact:
Media and investor relations manager
Phone +46 730 244 872
Lifco acquires and develops market-leading niched operations with the potential to deliver sustainable profit growth and strong cash flows. The Group has three business areas: Dental, Demolition & Tools and Systems Solutions. Lifco has a clear corporate philosophy which implies a long-term perspective, focus on profits and a highly decentralized organization. Lifco has 133 companies in 26 countries. In 2016, the Group’s net sales amounted to SEK 9 billion and the EBITA margin was 15%. For more information, visit www.lifco.se.