Concentric agrees to acquire Licos
Concentric AB (“Concentric”) has today entered into an agreement to acquire all the shares in Licos Trucktec GmbH (“Licos”), a leading producer of electromagnetic clutches for water pumps and fan applications within the truck industry, complimentary to Concentric’s current product range and end markets. The total purchase consideration for Licos, on a debt free basis, is approximately EUR 12.5 million, largely financed by cash but also including Concentric own shares to the value of EUR 0.5 million based on the current share price. The acquisition of Licos is conditional upon the