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Lagercrantz

Lagercrantz

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Lagercrantz Group: Lagercrantz acquires Hovicon International B.V.

12:05 / 21 December 2020 Lagercrantz Press release

Lagercrantz Group's subsidiary Asept International AB has today acquired the Dutch dispenser company Hovicon International B.V.

Hovicon develops and manufactures dispensers for technical and personal hygiene products such as soap and hand disinfection. The company also offers sauce and condiment dispensers for fast-food restaurants and food manufacturing companies. Hovicon is based in Vijfhuizen, not far from Schiphol airport in North-Holland and generates annual revenue of approximately 6 MEUR with good profitability. For a presentation see www.hovicon.com.

"Hovicon will be a good addition to the Asept Group both in terms of a stronghold in the Benelux and neighbouring countries, and also to strengthen the position within the growing personal hygiene segment." comments Jonas Ahlberg, VP of Lagercrantz division Niche Products and Chairman of the board of the Asept Group.

"It feels assuring to now hand over the responsibility to a long-term and stable owner that can help the company and the operations in Vijfhuizen to continue to grow and develop the business both domestically and internationally, and support with new innovative products." says Mrs. Carin W.J. Kater van der Aa, previous owner; and Mr. Ruud M. Kater, Managing Director of Hovicon.

Hovicon will be a subsidiary of Asept International AB and as such be part of the Lagercrantz Niche Products division. The acquisition is expected to generate a small positive addition to the Group's earnings per share on an annual basis.

 

Stockholm, 21 December 2020

Lagercrantz Group AB (publ)

The information was submitted for publication on 21 December 2020 at 12:05 CET.

LAGERCRANTZ GROUP IN BRIEF
Lagercrantz Group is a technology group that offers leading, value-creating technology, using either proprietary products or products from leading suppliers. The Group consists of about 50 companies, each with a focus on a specific sub-market - a niche. Lagercrantz Group is active in 9 countries in Northern Europe, in China, India and in the USA. The Group has approximately 1,500 employees and annual revenue of around MSEK 4,000. The Company is listed on Nasdaq Stockholm since 2001. Read more on www.lagercrantz.com

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