Latour acquires Caljan
Investment AB Latour (publ) has signed an agreement to acquire Caljan based in Aarhus, Denmark. The acquisition, which requires approval from European authorities, is expected to close in December.
Caljan is a leading supplier of automation technology for parcel handling in the logistics and e-commerce sectors. The product offering includes telescopic conveyors, automatic label and document handling and solutions for logistics depots. The company, founded in 1963, has headquarter in Denmark and subsidiaries in Germany, France, UK, Latvia and USA. Net sales amount to approx. EUR 100 million, with an operating margin exceeding 15 per cent and with strong growth. The company has 450 employees.
“Caljan is a high-performer with a market leading position in the logistics sector and strong customer relationships with prominent logistics and e-commerce companies. We are pleased with this acquisition and convinced that Caljan is well positioned for continued global growth, driven primarily by strong developments within e-commerce. Additionally, Caljan gives us interesting exposure to a new segment with a robust underlying global trend. We welcome Caljan as a new business area to our wholly-owned industrial operations”, says Johan Hjertonsson, CEO of Investment AB Latour.
“I am delighted to embrace Latour as our new owners. They are a long-term industrial owner that can support Caljan’s plans for expanding into new technologies and new markets”, says Henrik Olesen, CEO of Caljan.
As a result of the acquisition the net debt (excluding IFRS 16) of Investment AB Latour is expected to increase by EUR 250 m.
Göteborg, 11 October, 2019
INVESTMENT AB LATOUR (PUBL)
President and CEO
For further information, please contact:
Johan Hjertonsson, President and CEO Investment AB Latour +46 702 29 77 93
Anders Mörck, CFO Investment AB Latour +46 706 46 52 11
Gustav Samuelsson, Director M&A, Investment AB Latour, +46 46 735 52 55 59
Investment AB Latour is a mixed investment company consisting primarily of a wholly-owned industrial operations and an investment portfolio of listing holdings in which Latour is the principal owner or one of the principal owners. The investment portfolio consists of nine substantial holdings with a market value of about SEK 57 billion. The wholly-owned industrial operations have an annual turnover of about SEK 12 billion.