Lagercrantz Group AB has today signed an agreement to acquire the Norwegian company VP Metall AS.
VP Metall is a market leader in systems for electrical connectors primarily for high voltage applications based on so-called implosive connectors. The company has a strong market position in the Nordic countries but also exports to other parts of the world. VP Metall's annual revenue is approximately MNOK 40 and the company has good profitability. For a presentation of the company, please visit https://www.vpmetall.no.
"VP Metall will further strengthen Lagercrantz's position and offer within electrical connection systems and electrical infrastructure. It will complement Lagercrantz's largest business Elpress and its product range and we see excellent potential in VP Metall's unique know-how within implosive connectors as a platform for continued international expansion," comments Jörgen Wigh, President and CEO of Lagercrantz Group.
"We have great confidence that Lagercrantz will be a good owner for VP Metall in the future. Looking ahead, it was important for us to find a new owner that can help the company with international expansion and at the same time strengthen and continue our production operations here at Raufoss. We believe that Lagercrantz, with its industrial expertise and long-term approach, is the best owner to take the company forward to the next level," comments Tormod Bratberg.
VP Metall AS will become part of the Mechatronics division starting from January 2021. The acquisition is expected to generate a small positive addition to the Group's earnings per share.
Stockholm, 9 December 2020
Lagercrantz Group AB (publ)
This information was distributed by Cision http://www.cisionwire.se/