STOCKHOLM--(BUSINESS WIRE)--Regulatory News:
Today Lagercrantz Group (STO:LAGRB) has acquired 80 percent of the shares of the Danish company Nikodan Conveyor Systems A/S.
Nikodan develops, sells and manufactures high quality belt conveyors and other product handling solutions. End customers are found amongst industrial companies, for example in the food and the pharmaceutical industries. The company has its operations in Jutland. Nikodan generates annual sales of equivalent to more than MSEK 150 with good profitability.
“Lagercrantz acquires and builds businesses with leading market positions in attractive niches. Nikodan is a well-established product company and we are impressed with how management has developed the Company. We intend to give our support in their ambition to expand the business further.” says Jörgen Wigh, President and CEO of Lagercrantz Group.
Erik Videbæk CEO and co-owner of Nikodan: “The Company has had a strong development since it started 25 years ago. With Lagercrantz, I feel confident that we will be able to continue the positive development of Nikodan.”
The management of Nikodan remains the owner of 20% of the shares, including reciprocal call and put options.
Nikodan forms part of the Lagercrantz Niche Products division as from December 2015. The acquisition is expected to generate a positive addition to the Group’s earnings per share on an annual basis.
Stockholm, 29 December 2015
Lagercrantz Group AB (publ)
This information is disclosed in accordance with the Securities Markets Act, the Financial Instruments Trading Act or according to the agreement with NASDAQ Stockholm Exchange. The information was submitted for publication on 29 December 2015 at 14:00.
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 some 40 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 1,200 employees and annual revenue of around MSEK 3,000. The Company is listed on NASDAQ Stockholm since 2001.
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