Lagercrantz acquires Geonor AS

Lagercrantz Group has today acquired all shares in the Norwegian company Geonor AS.

Geonor manufactures and sells geotechnical, hydrological, meteorological and environmental equipment and solutions to a broad customer base in Norway and internationally. Geonor is based in Østerås in the Oslo area in Norway and generates annual revenue of approximately MNOK 30 with good profitability. For a presentation of the company, please visit www.geonor.no.

”Lagercrantz supports the development of companies with internationally leading products. With our hubs in Europe, Asia and in North America we help accelerate the international growth of companies with great products. With its leading products and solutions, Geonor fits well into the group and we look forward to continue developing Geonor in Norway as well as internationally.”, says Urban Lindskog, Head of Division Control at Lagercrantz.

“I see Lagercrantz as a strategic, long-term owner that can further develop Geonor by building upon our established position and long experience,” says Øyvind Klevar, CEO and former owner of Geonor.

Geonor will be part of the Lagercrantz division Control. The acquisition is expected to generate a small positive addition to the Group's earnings per share on an annual basis.

Stockholm, 29 October 2021

Lagercrantz Group AB (publ)

For further information please contact:
Jörgen Wigh, President and CEO, Lagercrantz Group AB, phone +46 8 700 66 70,
Urban Lindskog, Head of division Control, Lagercrantz Group, phone +46 8 700 66 70,
or visit our website: www.lagercrantz.com

The information was submitted for publication on 29 October 2021 at 12:20 CET.                                                                                                                              

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 consists of almost 60 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 China, India and in the USA. The Group has approximately 1,800 employees and annual revenue of exceeds MSEK 4,500. The Company is listed on Nasdaq Stockholm since 2001. Read more on www.lagercrantz.com

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