Lagercrantz acquires Supply Plus Limited
Lagercrantz has today signed an agreement to acquire 80% of the shares of Supply Plus Limited, a market leader of fire rescue equipment based in Cambridgeshire, United Kingdom.
Supply Plus design, manufacture, supply and distribute fire rescue equipment. The main product areas are fire ladders and hose reels. The products are delivered to fire and rescue, police and military services as well as OEM partners worldwide. United Kingdom is the largest market with approximately 60% of the sales, the remaining is exported to more than 40 countries. Supply Plus is based in Cambridgeshire in England and has a turnover exceeding GBP 7 million with good profitability. For more information about the company, please visit https://supplyplus.com/
“Supply Plus is a market leader known for its high-quality products trusted by fire and rescue services worldwide and other demanding end customers. It is a great addition to Lagercrantz’ International Division and we are very much looking forward to working together with Derek Gotts and his experienced team to continue the strong development of the company”, says Russell Stuart, CEO Lagercrantz UK.
“Partnering with Lagercrantz, who is a long-term and experienced owner, will provide a strong platform for Supply Plus’ continued development. I very much look forward to continuing as MD and a minority shareholder of Supply Plus”, says Derek Gotts, majority owner and Managing Director of Supply Plus.
Derek Gotts, Managing Director of Supply Plus since 2008, will remain in his position and retain 15% of the shareholding in the Company.
Supply Plus will be part of the International Division as of April 2023. Completion of the transaction is subject to regulatory approval and is expected before the end of June 2023. The acquisition is expected to generate a small positive contribution to Lagercrantz Group's earnings per share on an annual basis.
Stockholm, 26 April 2023
Lagercrantz Group AB (publ)
The information was submitted for publication on 26 April 2023 at 17:20 CET
For further information please contact:
Jörgen Wigh, President and CEO, Lagercrantz Group AB, phone +46 8 700 66 70
Lars-Ola Lundqvist, Head of International Division, Lagercrantz Group, +46 8 700 66 70
Russell Stuart, CEO Lagercrantz UK Ltd, +44 7861 39 40 70
or visit our website: www.lagercrantz.com
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 70 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 2,500 employees and annual revenues of about MSEK 6,800. The Company is listed on Nasdaq Stockholm since 2001. Read more on www.lagercrantz.com
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