History

1906

Lagercrantz Group’s working method has its origins in the trading company Bergman & Beving, which was founded in 1906 by engineers Arvid Bergman and Fritz Beving. The business idea was to import and sell technically advanced products to Swedish industry as a general agent for foreign manufacturers. The product range was gradually broadened and during the 1960s, the investment in electronics commenced.

1938

The name Lagercrantz comes from the Johan Lagercrantz trading firm, founded in 1938. From the beginning, the company focused on components and equipment, with agencies such as General Radio and Du Mont, known for their oscilloscopes at the time. Lagercrantz was acquired by Bergman & Beving in 1967. It became the first subsidiary and the first step into the technology field of electronics.

1976

Bergman & Beving went public in 1976. In the same year, the company started expanding abroad with establishments in Denmark, Finland and Norway. By 1979, the group consisted of twelve companies. Growth took off and ten years later, by 1989, the group consisted of 60 companies, which required a clearer structure. During the 1990s, the electronics-oriented companies within Bergman & Beving were coordinated in the Electronics and Lagercrantz business areas.

2001

In September 2001, Bergman & Beving was divided into three separate listed companies. The Electronics and Lagercrantz business areas, focusing mainly on the distribution of electronic components, IT products, cabling and communication solutions, became today's Lagercrantz Group. The Industry business area became Addtech, focusing on electromechanics, mechanics and medical technology,while B&B Tools became the name of the businesses that contained supplies and tools for the industrial sector. There have subsequently been further changes within both Addtech and B&B Tools.

2006

After a couple of challenging initial years on the stock market as a result of a severe general economic downturn, Lagercrantz in 2005 developed a new strategy with a focus on profitability, growth, decentralization, higher value added, as well as broadening the business into new technology niches and company acquisitions. As a result of the new strategy, new types of companies were added to the group. The share of proprietary products increased from almost none to a significant portion of the business volume. New technology areas such as high tension current, technical safety and niche steel products were also added and in 2006 three distinct divisions were created within Lagercrantz; Electronics, Mechatronics and Communications. These were later supplemented with another division in 2012, Niche Products.

2008

The global financial crisis in 2008 and 2009 hampered sales growth but not the work towards increased value added. The share of proprietary products in sales has continuously increased, while the distribution operations have also developed towards increased value addition.

2010

In 2010, the economy rebounded after the global financial crisis of 2008-2009. Throughout the 2010s, Lagercrantz Group evolved into a strong group with prominent positions within several niches, not least through some forty acquisitions that have developed well as independent units within the Lagercrantz Group.

2021

In the spring of 2021, Lagercrantz launched a new business plan "Lagercrantz towards the Billion". The objective was to of build a strong technology group with leading businesses in various niches, doubling the result and reaching at least SEK one billion in earnings within five years. The financial targets were expressed as annual earnings growth (EBT) exceeding 15% annually over a business cycle and a return on equity of at least 25%. At least one third of the growth would take place organically. The business plan included a reorganisation into five divisions with clear focus areas as well as an increased acquisition capacity with the goal of carrying out 5–8 acquisitions annually. The new business plan also entailed an additional focus on sustainability work, both centrally and locally in the subsidiaries. Already after just over two years, the goal had been achieved and the group had then grown to over 70 companies.

2023

In the autumn of 2023, Lagercrantz stretched the bow further and launched the ambition of a further doubling of the result to SEK 2 billion within five years. Approximately 2/3 of the growth is expected to come from acquisitions and 1/3 organically, which would mean up to 100 companies. In the new plan, the group's focus on sustainability-oriented segments with structural underlying growth is further strengthened and the share of proprietary products should amount to at least 85%. Geographically, the group's presence throughout northern Europe will gradually increase as Lagercrantz  find attractive technology companies in more markets.