Lagercrantz acquires Vanpee in Norway and Sweden
Lagercrantz Group has today entered into an agreement to acquire all shares outstanding in Norwegian company Vanpee Norge AS and Swedish company Vanpee AB (the Vanpee companies).
The Vanpee companies are value-adding distributors in the lighting industry, with leading component suppliers in their portfolios. The companies also offer consultancy services in lighting control and programming of lighting control equipment. Customers are found mostly among light fixture manufacturers and installers in Norway and Sweden. The Vanpee companies have aggregate annual sales of over MSEK 75 with good profitability.
“For several years the Vanpee companies have displayed a powerful offering to the lighting industry and in recent years lighting control services have been successfully introduced to their customers. Together with our existing company, Vanpée & Westerberg A/S in Denmark, we will now be getting full-range coverage in a growing industry”, says Jörgen Wigh, President & CEO of Lagercrantz Group, in a comment.
Stein Christensen, President and owner of the Vanpee companies: “With Lagercrantz as owner we get a financially strong owner with a long-term outlook, which means that we will be able to continue developing and expanding the company in Norway and Sweden. We are looking forward to co-operating with the other companies in the Lagercrantz Group.”
Stein Christensen will remain as President and the companies will become part of Lagercrantz Group’s division Electronics. The deal is expected to close during August/September 2012, after obtaining approval from, among others, the Norwegian competition authority. The acquisition is expected to generate a small positive contribution to consolidated earnings per share on an annual basis.
Stockholm, 5 July 2012
Lagercrantz Group AB (publ)