Electrify

The Electrify Division consists of 17 companies with leading positions in their niches in electrification and infrastructure. The majority of the companies have long product lifecycles and growth is driven by society’s increased electrification, connectivity and need for safe, functioning infrastructure.

About the division

The division’s companies are characterised by a strong presence in Northern Europe and a growing export business. Global trends such as electrification and digitalisation, together with the need for reliable communications and protected systems, are driving market growth. Several of the companies are leaders in their niches and are showing stable growth, with proprietary products and solutions. 

Customers are found in the industrial sector, electricity distribution, transmission, renewable energy, transport infrastructure, energy storage as well as fibre-optic and 5G communication networks. Several companies within the division also offer unique systems for the safe expansion of electricity, communications and road infrastructure. The sustainability transition and the EU’s investment drive in energy and infrastructure are creating a structural tailwind that is strengthening the long-term demand for the division’s products and systems.

The underlying business normally shows an organic growth rate of 5–15% and the division is well positioned to continue growing in line with society’s increasing need for robust, reliable solutions that help strengthen resilience to crises and disruptions.

The division’s development goes hand in hand with Lagercrantz’s ambition to be an active enabler of growth and value creation through business development and continued acquisitions of new, niche businesses.

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 600. 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 55 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. 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 three 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 and Enkom with sale of electrical-related components and tools for applications within electrical and telecom infrastructure. Annual revenue for these three companies is approximately MSEK 480.

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 470.

The companies NRS, Cue Dee, Mastsystem, Swedwire and PPV generate an annual total revenue of approximately MSEK 1,000. 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. Mastsystem delivers a comprehensive range of tactical field and vehicle mast systems, along with accessories, mounting kits, and antenna‑pointing devices. All designed for rapid top‑load repositioning, serving defence and civil customers worldwide. 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 is takeing  place at their own factory in Kållered since 1966. 

In April 2026, Michael Smith Switchgear was acquired. The company is a developer and manufacturer of bespoke low-voltage switchgear and electrical distribution assemblies, serving customers across the UK industrial, commercial and infrastructure sectors, including data centres.