Lagercrantz acquires E-Tech Components Ltd
Today Lagercrantz Group has acquired all the shares in the UK company E-Tech Components (UK) Ltd.
E-Tech is a distributor that is mainly focused on the UK market for cable accessories and products, electrical installation and related areas. The company is currently a distributor for Lagercrantz subsidiary Elpress AB’s products in the UK. E-Tech’s operations are based in Manchester and it generates annual sales of about MGBP 2.
“E-Tech is a well-established player in a relevant market niche for Lagercrantz. Apart from distribution of existing suppliers’ products, E-Tech will now also open up the UK market for other Lagercrantz companies.” says Ulf Gladh, Vice President, Electronics at Lagercrantz Group.
Christopher Montgomery, part-owner and CEO of E-Tech: “With Lagercrantz as owner, E-Tech gains a financially strong and long-term owner that can support us in realising our growth ambitions. We look forward to the opportunity to develop business with more companies in the Lagercrantz Group.”
E-Tech will form part of the Lagercrantz Electronics division’s operations in Denmark as from February 2017. The acquisition is expected to generate a small positive addition to the Group’s earnings per share on an annual basis.
Stockholm, 27 February 2017
Lagercrantz Group AB (publ)
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