Lagercrantz completes the acquisition of Prido

Lagercrantz has today completed the acquisition of 96% of the shares of Prido AB.

Prido is one of Europe’s largest manufacturers of industrial folding doors. The products are sold to a wide range of customer groups, particularly to smaller industrial companies. For more information about Prido, please visit https://www.prido.com

In recent years, Prido has generated annual revenues of around MSEK 300 with operating profits (EBITA) of just under MSEK 70, and a return on working capital, P/WC (EBITA/operating WC) well above 100%. For the year ending April 30, annual revenues are expected to be MSEK 270 with operating profits at MSEK 64-68. The EV/EBITA multiple was concluded at approximately 7x.

The acquisition was previously announced February 7, 2024, and has now received regulatory approval. Prido will be part of the Niche Products Division as of February 2024. The acquisition is expected to generate a positive contribution to Lagercrantz Group's earnings per share.

Stockholm, February 22, 2024

Lagercrantz Group AB (publ)

For further information please contact:
Jörgen Wigh, President and CEO, Lagercrantz Group AB, phone +46 8 700 66 70, 
Jonas Ahlberg, Executive VP and Head of Niche Products Division, Lagercrantz Group, +46 76 790 4400 
or visit our website: www.lagercrantz.com

The information was submitted for publication on 22 February 2024 at 10:50 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 75 companies, each with a focus on a specific sub-market – a niche.    High value-creation is common to all the companies, including a high degree of customisation, support, service and other services.  Lagercrantz Group is active in nine countries in Northern Europe as well as in China, India and in the USA. The Group has approximately 2,700 employees and annual revenue of more than MSEK 8,000. The Company is listed on Nasdaq Stockholm since 2001. www.lagercrantz.com

Tags: