International

The International Division is Lagercrantz’s platform for long-term international expansion. Here, the Group’s successful model is further developed – acquisitions of profitable niche technology companies combined with decentralised entrepreneurship in markets outside Sweden.

About the division

The division brings together the majority of the Group’s businesses in Denmark, Norway, Germany and the UK, while serving as an important platform for the international growth of the other divisions.

International consists of 17 independent and specialised companies with strong positions in their respective niches. The businesses include both product companies with their own technology and distributors in the infrastructure, electronics and electrical components segments, which together create a robust and diversified portfolio.

Customers are found in structurally growing segments such as the marine industry, railways, power distribution and industrial production, but also in highly specialised areas such as medical technology and renewable energy.

A key part of the strategy is to build strong niche clusters where companies together strengthen their market position and create new growth opportunities. In the marine industry, for example, a Nordic cluster has been established through ISIC, AC Antennas, Libra and Tebul. In industrial sealing technology, Schmitztechnik and DP Seals are another clear example of specialised and scalable platforms.

Sustainability is an integrated part of the operations and several companies are developing solutions that help to improve resource efficiency and reduce the customers environmental impact.

Going forward, the ambition is to continue to grow in line with the Group’s financial targets through a combination of acquisitions and profitable organic growth. The UK is  a priority market, while the opportunities to strengthen the position in Germany and neighbouring countries are considered to be significant.

International intends to carry out 2–4 platform acquisitions annually, supplemented by add-on acquisitions that strengthen the existing businesses. In parallel, the division continues to identify new technology niches in order to achieve leading positions and drive long-term value-creating growth through technological development, internationalisation and entrepreneurial leadership.

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.