Lagercrantz acquires E-Tech
Lagercrantz Group has acquired all the shares in the UK
company E-Tech Components (UK) Ltd.
E-Tech is a distributor that is mainly focused on the UK
market for cable accessories and products, electrical
installation and related areas. The company is currently
a distributor for Lagercrantz subsidiary Elpress AB’s
products in the UK. E-Tech’s operations are based in
Manchester and it generates annual sales of about MGBP
“E-Tech is a well-established player in a relevant
market niche for Lagercrantz. Apart from distribution of
existing suppliers’ products, E-Tech will now also open
up the UK market for other Lagercrantz companies.” says
Ulf Gladh, Vice President, Electronics at Lagercrantz
Christopher Montgomery, part-owner and CEO of E-Tech:
“With Lagercrantz as owner, E-Tech gains a financially
strong and long-term owner that can support us in
realising our growth ambitions. We look forward to the
opportunity to develop business with more companies in
the Lagercrantz Group.”
E-Tech will form part of the Lagercrantz Electronics
division’s operations in Denmark as from February 2017.
The acquisition is expected to generate a small positive
addition to the Group’s earnings per share on an annual
Stockholm, 27 February 2017
Group AB (publ)
For further information please contact:
President and CEO, Lagercrantz Group AB, telephone +46 8
700 66 70
Ulf Gladh, VP Electronics division, telephone +46 8 700
or visit our website www.lagercrantz.com
The information was submitted for publication on 27
February 2017 at 15:15.
LAGERCRANTZ GROUP IN BRIEF
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. Strong value-creation
is common for all companies as well as a high degree of
customisation, support and other services.
Group is active in seven countries in Northern Europe,
in China and in the USA. The Group has approximately
1,250 employees and annual revenue of about MSEK 3,000.
The Company is listed on Nasdaq Stockholm since 2001.
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Lagercrantz acquires E-Tech Components (UK) Ltd