Lindab International AB : Lindab acquires ventilation solutions company
Lindab has today entered an agreement to acquire MP3 S.r.l., a leading manufacturer of indoor climate solutions, with specialist competence within fire and smoke protection. The acquisition is in line with Lindab's ambition to strengthen its position as a complete provider of ventilation solutions and to increase market coverage.
MP3 is located in Padua in Northern Italy, has a turnover of approximately SEK 210 million annually with an operating profit, EBIT, of around SEK 20 million and has 95 employees. Half of the sales are made in Italy and half for export, mainly within Europe.
Lindab's President and CEO, Anders Berg, commented:
"This is a strategically important acquisition that complements and enhances our offering within ventilation solutions while we are strengthening our market position.
Lindab is a leader in circular duct systems, through the acquisition of MP3 we add excellence in fire dampers, as well as a wide range of EU-certified products, giving us competitive advantage. For our customers this means even greater confidence in choosing Lindab as their complete supplier of indoor climate solutions that meet the highest standards of energy efficiency and fire safety.
In addition, MP3 adds strong customer relationships in new markets, notably in southern Europe."
MP3 will be integrated into Lindab's operations, generating synergies, primarily within sales, but also on the cost side. The acquisition is expected to make positive contributions to Lindab's business already in 2015.
The completion of the transaction is subject to closing conditions and is expected to take place in mid-January 2015.
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| The information here is that which Lindab International AB has willingly chosen to make public or that which it is obliged to make public according to the Swedish Securities Market Act and/or the Financial Instruments Trading Act. |
Contacts:
LINDAB
Anders Berg, CEO
Email: anders.berg@lindab.com
Mobile: +46 (0) 70 35 89155
Per Nilsson, CFO
Email: per.nilsson@lindab.com
Mobile: +46 (0)70 33 85069
Lindab - A Ventilation and Building Products company:
Lindab develops, manufactures, markets and distributes products and system solutions primarily in steel for simplified construction and improved indoor climate.
The products are characterised by their high quality, ease of assembly, energy efficiency, consideration towards the environment, and are delivered with high levels of service. Altogether, this increases customer value.
The Group had sales revenue of SEK 6,523 m in 2013 and is established in 32 countries with approximately 4,400 employees. The main market is non-residential construction, which accounts for 80 percent of sales, while residential accounts for 20 percent of sales.During 2013, the Nordic market accounted for 46 percent, the CEE/CIS (Central and Eastern Europe plus other former Soviet states) for 24 percent, Western Europe for 27 percent and other markets for 3 percent of total sales.
The share is listed on the Nasdaq OMX Nordic Exchange, Stockholm, Mid Cap. For more information visit www.lindabgroup.com