International
The International division is taking Lagercrantz’s successful business concept, involving acquisitions and decentralised governance of niche technology companies, and is developing the export market. Most of the Group’s businesses in Denmark, Norway, Germany, Poland and the UK are part of the division, which also supports other areas of the Group as a sales channel in their export ambitions.
About the division
Today, the International Division consists of 17 businesses, all specialised with niche customer offerings for their specific markets. The businesses consist of both specialised product companies in selected niches and value-adding distributors in electronics and electromechanics.
The customers include shipyards, railways, power distribution and the mechanical industry. Manufacturers of hearing aids and wind turbines are also important customer segments.
The International division prioritises acquisitions of niche product companies but shall also grow organically. In recent years, the division has also acquired companies with similar products or customer groups. One example is the division’s cluster of product companies focused on the marine industry consisting of Denmark-based ISIC and AC Antennas, the Norwegian company Libra and Tebul in Finland. Another important cluster is Schmitztechnik and DP Seals, which both offer special components in sealing technology for industrial customers.
Several of the companies have made good progress in their environmental thinking and offer sustainable solutions that contribute to positive environmental impacts.
Going forward, the ambition is to grow in line with the Group’s growth targets. The UK is a particularly attractive growth market for the division and we also see good opportunities to grow in Germany and the Netherlands. The intention is to carry out 2–4 acquisitions per year as well as add-on acquisitions for existing companies to further strengthen their market positions. We are also exploring new market niches where we see that we can capture a leading position and which we can also continue to strengthen through both product development and geographical expansion.
About the businesses
The companies in the division all have unique positions within their specific markets, Some of the businesses are described here below.
Danish company ISIC is a leading developer and manufacturer within marine electronics with monitors and navigation equipment. The customers are system suppliers with strict demands for durability in exposed environments. ISIC’s products are developed inhouse under the company’s own management based on customer-specific needs and meet the highest level of required standards. In August 2021, the company acquired Danish AC Antennas which is a leader in antennas for use primarily in the marine market. ISIC generate an annual revenue of approximately MSEK 150. Schmitztechnik is a leader in several segments and develops innovative and customised industrial rubber products for the manufacturing and automotive industry with Germany as its largest market. The company generates annual revenue of almost MSEK 80 with good profitability. In December 2023, DP Seals, a company specialising in the development and manufacturing of rubber seals with intricate geometries for high specification applications such as aviation and underwater systems, was acquired. The company generates annual revenue of MSEK 60. The company G9 designs and produces products for park and urban environments and creates sustainable landscape architecture with a focus on environmentally assessed, sustainable materials. G9 generates annual revenue of MSEK 60.
ACTE Denmark is the leading supplier of electronics to the world-leading Danish hearing aid industry. The company has also achieved success with the new cable duct systems that are used in the expansion and upgrading of railway infrastructure. The products are manufactured in recycled plastic and have large positive environmental effects as they replace the concrete products that have traditionally been used. Unitronic is a leading distributor of electronics and advanced electrification products in the German market and is a leader in sensors for detecting greenhouse gases and analysis of air quality. The company supplies, among other things, key components to manufacturers of machines for analysis of exhaled air, which are used to detect Covid-19 and a number of lung diseases at an early stage in patients. Together the ACTE companies and Unitronic generate annual sales of approximately MSEK 400.
The division also includes Danish NST, which is a leader in electrical and lighting products for building and construction projects. Skomø is active in the development and production of graphic custom-designed imaging materials and Glova Rail is a leading supplier of vacuum toilets for railway vehicles. English company E-tech Components is a specialist in cable accessories for demanding applications. These companies, like others in the division, are heavily niche-focused with a strong position in their respective markets. Epoke A/S is a leading manufacturer of winter road maintenance equipment, based in southern Jutland, Denmark. Epoke is a pioneer in winter maintenance technology and is known for its technically advanced and environmentally sustainable solutions.
