Electronics Production |
Lagercrantz Group acquires ISIC
Swedish Lagercrantz Group has concluded an agreement to acquire all outstanding shares in the Danish company ISIC A/S. The current principal owner of ISIC is Vertex Venture Holdings Pte Ltd.
ISIC is a developer and manufacturer of computer and monitor solutions for industrial applications and the most demanding environments. Customers are found in the food & beverage industry, in chemical production, in process industry and in several marine areas. ISIC’s products are developed in-house based on customer-unique requirements. ISIC had revenues for the full year 2004 of approximately MEUR 7.5. The company will be a part of division Electronics.
Per Ikov, CEO of Lagercrantz Group: “The acquisition of ISIC is a strategically important element of the transformation effort under way in the Lagercrantz Group. This acquisition constitutes a marked refinement of the Group’s business model, where our offer of special components and systems is complemented by products and services developed in-house. ISIC is active in the world market with its proprietary OEM products and is an established player with 15 years of experience and a very strong brand name. This acquisition will lead to significant synergies for the company, in purchasing as well as sales. By adding resources to ISIC, the company will be in a position to broaden its offer to additional market segments.”
Possession will be taken as of April 1, 2005. The acquisition is expected to make a positive contribution to earnings per share during the financial year beginning April 1, 2005.
