Electrify
The Electrify division consists of businesses where each one is, or strives to become, a leader in its electrification and infrastructure niche. The majority of the businesses have proprietary products and solutions and generally work with products that have long lifecycles. Growth is driven by a changing society – where electrification, connectivity and modern infrastructure are crucial.
About the division
The division consists of 18 companies with a strong presence in Northern Europe and a growing export business. Trends such as electrification, digitalisation and urbanisation, as well as the need for reliable communications and protected systems, are driving forces that ensure a growing market and demand. Many of the companies are leaders in their niches and show stable growth, with proprietary products and solutions that often have long lifetimes and high technical performance. Customers are found in industry, electricity distribution, transmission, renewable energy, transport infrastructure, battery and charging technologies, and communication networks such as fibre and 5G.
The businesses are organised into five areas: electrical connectors, enclosures and technical housings, cabling, electrical products and infrastructure products. The division develops everything from electrical connection systems and IP-rated enclosures to customised cabling solutions and safety & security products that contribute to safer societies. The companies that are focused on infrastructure offer unique systems for safe electricity, communication and road development.
The underlying business normally shows an annual growth rate of 5–15% and Electrify has a good basis to continue developing in line with society’s needs and growing demands for robust solutions, which increase society’s resilience to crises and disruptions. The conditions and external environment are well aligned with the division’s and Lagercrantz’s ambition to act as an enabler of growth with a focus on business development, both for existing companies but also for new companies that join the division through acquisitions.
About the businesses
The companies in the division all have unique positions within their specific markets, Some of the businesses are described here below.
The division includes the Group’s second largest business Elpress, which is the leading provider of electrical connection systems in the Nordics and a highly respected player also globally. Elpress offers a wide range of connectors with related tools, which together create a high-quality system. Elpress AB has been part of Lagercrantz since 2006 and has performed well for many years. Today it generates annual revenue of approximately MSEK 430. In addition to the strong position in the Nordics, Elpress has a significant volume of exports with subsidiaries in Central Europe, the USA and China. In total, approximately 2/3 of sales are exported. Norwegian VP metall offers implosive electrical connectors, primarily for transmission networks. The company generates annual revenue of approximately MNOK 40 with good profitability.
Elkapsling and Esari are both leading providers of IP-classed enclosures, cabinets and technical buildings. Esari is Finland’s leading manufacturer of technical buildings and protective cabinets for civil engineering. Tykoflex supplies enclosures for splicing in fiber networks as well as robust pipe couplings, both for the most demanding applications. Storage solutions are also offered through the subcontractor Dooman. Enclosures are relevant for customers that build electricity, telecommunications and broadband networks. The products meet strict customer requirements and are supplied with short delivery times. In total, these five companies generate annual revenue of approximately MSEK 480.
In close connection with this, the electrical component companies Norwesco and Letti operate with, among other things, safety switches, stove guards, electric car chargers and fastening materials for cables and wires, Exilight with solutions for evacuation and exit lighting and Enkom Active with sale of electrical-related components and tools for applications within electrical and telecom infrastructure. Annual revenue for these four companies is approximately MSEK 235.
The cable companies Elfac, KPRO and EFC operate with a high degree of customisation close to their main customers in Denmark, Sweden, Finland and Estonia. These operations have delivered on a stable basis in the Group since the turn of the millennium. In recent years, the customer base has been broadened, not least with new customers in railway infrastructure and battery manufacturing. In total, these companies generate an annual revenue of approximately MSEK 340.
The companies NRS, Cue Dee and Swedwire generate an annual total revenue of approximately MSEK 385. NRS sells permanent road safety in by road and safety barriers and parapets, and, in certain cases, the company also do project management and installation. Cue Dee supplies infrastructure products in the form of aerial brackets and masts for telecoms and the wind power sector. Swedwire is a leading manufacturer of crash barrier wires and also supplies road barrier ropes for electrical infrastructure. PPV manufactures and supplies CE-marked road signs and accessories for national roads, municipalities, contractors, companies, and associations. All production has taken place at their own factory in Kållered since 1966.
