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Lagercrantz Group acquires Svensk Stålinredning

2011-03-01 13:33
Regulatory

Lagercrantz Group has today entered into an agreement to acquire the business in Svensk Stålinredning.

Svensk Stålinredning is a niched manufacturer of specially designed storage solutions for professional environments. Products offered include proprietary systems, such as Horizon, Vertic and PinPanel. Customers include resellers and end customers, among them international retail chains, all with requirements for advanced storage solutions.

Svensk Stålinredning had 2010 sales of approximately MSEK 50 with good profitability.

”Svensk Stålinredning has displayed an impressive development over the course of several years. In a systematic way, the company has built a strong proprietary product portfolio under high profitability. We are seeing that, together with Håkan Söderberg, we will be able to develop the business under continued good profitability, says Jörgen Wigh, President and CEO in Lagercrantz Group.

Håkan Söderberg, President and owner of Svensk Stålinredning: ”With Lagercrantz as owner we get a long-term owner who shares our vision of the company’s opportunities and strengths, as well as our values. With that as a foundation I feel confident about the future now that we have all the parts of the puzzle in place to succeed with the development of Svensk Stålinredning going forward.”

Svensk Stålinredning will be part of Lagercrantz Group’s division Mechatronics. The closing, which is subject to some approvals, is expected to take place in the beginning of March 2011.The acquisition is estimated to provide a small positive increment to the Company’s earnings per share on an annual basis.

So far during the 2010/11 financial year Lagercrantz has acquired businesses with annual revenue of almost MSEK 300.

Stockholm, 1 March 2011

Lagercrantz Group AB (publ)

For additional information, contact:

Jörgen Wigh, President & CEO, telephone+46 (8) 700 66 70.

This information is published in accordance with the Swedish Securities Market Act, the Swedish Act on Trading in Financial Instruments or the rules and regulations of NASDAQ OMX Stockholm. The information was released for publication at 13:30 CET, 1 March 2011.

LAGERCRANTZ GROUP IN BIRIEF
Lagercrantz Group is a technology group in electronics, electricity, communication and adjacent areas. The Group operates in a decentralised manner with value-adding sales in close proximity to its customers and markets and commands leading market positions in several expansive niches.
Operations are organised in three divisions. Division Electronics primarily markets solutions in wireless communication and embedded systems. Division Mechatronics offers electro-mechanical components and production of cable harnesses and products in electric connection systems, electric installation material and stays and roadside barriers. Division Communications provides solutions in digital image transmission/technical security, designs software and access products. Customers are predominantly manufacturing companies. Lagercrantz is today represented in eight countries in Northern Europe and in China.
The Group has sales of approximately MSEK 2,000 and has approximately 700 employees. Lagercrantz is listed on NASDAQ OMX Stockholm, segment Small Cap. More information is available at www.lagercrantz.com.