Lagercrantz acquires Libra in Norway
Lagercrantz Group has today acquired 75% of the shares in Libra-Plast AS (Libra @ www.libra.no). Together with the founders, family Lillebø and the management team, remaining as shareholders of 25%, the business will continue its growth path both in Norway and internationally.
Libra is a market leader in premium quality doors, hatches and storage units to the marine industry. The customer base is shipyards in Norway, Europe and North America. The company generated annual sales of approximately MNOK 177 in 2020 with an EBITA of approx. 28 MNOK (including its part of earnings in minority shareholdings). Libra sells its products all over the world with subsidiaries in Norway and Latvia and a minority interest in a company in Vietnam.
“At Lagercrantz, we take a long-term view on building businesses with leading positions in specific market niches. Libra is an established leader in its supply of safety critical products to the marine industry, with a solid reputation for top quality, wide product range and certified type approvals for the established international marine classification levels. The business has shown stable growth for a number of years and will be a major addition to the marine products focus area, within the division International”, says Lars-Ola Lundkvist, Head of division International at Lagercrantz Group.
”Lagercrantz has extensive experience in ownership of product companies with export ambitions, and we look forward to start working with them. I am sure that they will bring knowledge, experience and fresh ideas to the table, and it is exciting to be part of this new era in Libra’s history” says Einar Pieroth, CEO in Libra-Plast AS in a comment.
Libra will be part of the Lagercrantz division International. The acquisition is expected to generate a small positive addition to the Group's earnings per share on an annual basis.
Stockholm, 14 May 2021
Lagercrantz Group AB (publ)
For further information please contact:
Jörgen Wigh, President and CEO, Lagercrantz Group AB, phone +46 8 700 66 70,
Lars-Ola Lundkvist, Head of division International, Lagercrantz Group, phone +46 8 700 66 70,
or visit our website: www.lagercrantz.com
The information was submitted for publication on 14 May 2021 at 11:40 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 1,600 employees and annual revenue of exceeds MSEK 4,000. The Company is listed on Nasdaq Stockholm since 2001. Read more on www.lagercrantz.com
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