Lagercrantz acquires Cue Dee
Today Lagercrantz Group has acquired all shares in the Swedish company Cue Dee AB.
Cue Dee develops and sells, primarily, supports and brackets with high standards of strength and flexibility. The support brackets are used for mounting e.g. mobile devices in masts, on roofs or in other exposed areas. The company also manufactures custom masts and associated peripherals for various applications such as wind measurement. Customers are global, mainly within the Telecom sector, and consists of network providers, operators and installers. The company is headquartered in Robertsfors, north of Umeå, and has a subsidiary in China. Cue Dee group has annual sales of approximately SEK 180 million with good profitability.
"Within Lagercrantz we want to build businesses with leading market positions in interesting niches. Cue Dee is a product company with a strong market position and its own development of new products, which means interesting growth opportunities in e.g. the mobile network expansion. Cue Dee will be yet another strong unit among other product companies in the division Mechatronics." says Jörgen Wigh, President and CEO of Lagercrantz Group.
Lars Olofsson, CEO and former co-owner of Cue Dee: "We have worked with antennas, masts and solutions for mounting equipment since the late 70s. Our focus on quality and flexibility are appreciated by customers worldwide. With Lagercrantz, Cue Dee will get continued opportunities to develop to meet our customers' future needs. "
Cue Dee will form part of the Lagercrantz Mechatronics division as from April 2015. The acquisition is expected to generate a positive addition, after acquisition costs, to the Group’s earnings per share after tax on an annual basis.
Stockholm, 8 April 2015
Lagercrantz Group AB (publ)
For further information, contact:
Jörgen Wigh, President and CEO, Lagercrantz Group AB, phone +46 8 700 66 70
Magnus Söderlind, Executive Vice President, Lagercrantz Group AB, phone +46 8 700 66 80
or visit our website www.lagercrantz.com
This information is disclosed in accordance with the Securities Markets Act, the Financial Instruments Trading Act or according to the agreement with NASDAQ Exchange. The information was submitted for publication on 8 April 2015 at 01:15 pm.
LAGERCRANTZ GROUP IN BRIEF Lagercrantz Group is a technology group that offers world-leading, value-creating technology, using either proprietary products or products from leading suppliers. The group is comprised of some 40 companies, each with a focus on a specific sub-market – a niche. A high value-creation is common to all the subsidiaries, including a high degree of customisation, support, service and other services. Lagercrantz Group is active in seven countries in Northern Europe, and in China. The Group has approximately 1,100 employees and annual revenue of just over MSEK 2,800. The Company is listed on NASDAQ Stockholm since 2001.
Tags: