Lagercrantz acquires CP Cases
Lagercrantz has today acquired 87% of the shares in CP Global Ltd (UK), a leading supplier of high-performance protective cases and racks.
CP Cases designs and manufactures high-performance protective cases and racks made of recyclable plastic, aluminium, and rugged textiles, used for the transit and storage of mission critical equipment in commercial and military applications. The cases are typically equipped with various climate and hazard control functions. The company was founded in 1969 and has since developed a broad range of in-house skills and knowledge with materials and processes.
CP Cases is based in West London, UK, and has a subsidiary in Frankford, Delaware, USA. Both sites operate as office, production and warehouse spaces, and together serve customers in more than 40 countries. Together the businesses have a turnover of approximately GBP 12 million with good profitability. For more information, please visit: www.cpcases.com.
“CP Cases is a market leader within its niche. Given its vast experience in the sector, few competitors can match their product range, customisation capabilities, and fast delivery times. We are a strong believer in the business’s continued international growth, and we see many opportunities to develop it further together with the management”, says Andreas Heder, Head of the Control Division at Lagercrantz Group.
“It is exciting to welcome another high quality, niche, product company to Lagercrantz UK. CP Cases has a rich history and a very bright future and will be a great addition to the Group”, says Russell Stuart, CEO Lagercrantz UK.
"It is now more than 50 years since we started CP Cases. It feels safe to partner with a long-term and stable owner who will support our continued development and expansion worldwide. I very much look forward to continuing as MD of CP Cases under Lagercrantz’ ownership”, says Peter Ross, founder and MD of CP Cases.
CP Cases will be part of Lagercrantz’ Control division as of July 2024. The founder and MD Peter Ross and the US General Manager Peter Gill will retain 13% ownership of the shares in the company. The acquisition is expected to have a marginally positive effect on the Group's earnings per share.
Stockholm, 17 July 2024
Lagercrantz Group AB (publ)
For further information please contact:
Jörgen Wigh, CEO, Lagercrantz Group AB, phone +46 8 700 66 70
Andreas Heder, Head of the Control Division, phone +46 703 76 21 80
Russell Stuart, CEO Lagercrantz UK Ltd, +44 7861 394 070
or visit our website: www.lagercrantz.com
The information was submitted for publication on 17 July 2024 at 7:15pm CET.
LAGERCRANTZ GROUP IN BRIEF
Lagercrantz Group is a Tech Group that offers world-leading, value-creating technology, using either proprietary products or products from leading suppliers. The Group consists of some 80 companies, each with a focus on a specific sub-market – a niche. Lagercrantz Group is active in nine countries in Northern Europe as well as in the USA, in China and in India. The Group has approximately 2,800 employees and annual revenues of about MSEK 8,100. The Company is listed on Nasdaq Stockholm since 2001. Read more on www.lagercrantz.com
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