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Lagercrantz acquires El-produkter AS

2013-12-03 12:00
Regulatory

Lagercrantz Group has today entered into an agreement to acquire the Norwegian company El-produkter AS.

El-produkter designs, markets and sells LED-lighting including, inter alia, lighting design support. The products are sold under its own brand for the professional installer market in Norway. The company is headquartered in Ullsteinvik and has aggregate annual sales of over MNOK 50 with good profitability.

“For several years El-produkter has displayed a powerful offering to the installer market in Norway and in recent years has successfully introduced LED-products to their customers. Together with our existing companies within the lighting and lighting control services industry, we will now be getting a stronger offering for a growing industry”, says Jörgen Wigh, President & CEO of Lagercrantz Group, in a comment.

Hallbjørn Leirvik, President and part-owner of El-produkter: “With Lagercrantz as owner we get a financially strong owner with a long-term outlook, which means that we will be able to continue developing and expanding the company. We are looking forward to the possibility to develop the company further within the Lagercrantz Group.”

El-produkter will become part of Lagercrantz Group’s division Electronics. The deal is expected to close during December 2013, after obtaining approval from, among others, the Norwegian competition authority. The acquisition is expected to generate a small positive contribution to consolidated earnings per share on an annual basis.

Stockholm, 3 December 2013

Lagercrantz Group AB (publ)

For additional information, contact:

Jörgen Wigh, President & CEO, Lagercrantz Group AB, telephone +46 70 569 5477
Ulf Gladh, Vice President Electronics, Lagercrantz Group AB, telephone +46 70 673 0727

This information is being published in accordance with the Securities Markets Act, the Act on Trading in Financial Instruments or the regulations of NASDAQ OMX Stockholm. The information herein was provided for publication at 12:00, 3 December 2013.

LAGERCRANTZ GROUP IN BRIEF
  Lagercrantz Group is a technology group that offers world-leading, value-creating technology, using either proprietary products or products from leading suppliers. The group is comprised of more than 30 companies, each with a focus on a specific sub-market – a niche. A high value-creation is common to all the subsidiaries, including a high degree of customisation, support, service and other services.
  Lagercrantz Group is active in seven countries in Northern Europe, and in China. The Group has approximately 1000 employees and annual revenue of approximately MSEK 2,500. The Company is listed on NASDAQ OMX Stockholm since 2001.