Lagercrantz announces acquisition of 70% of Frictape.
NORDIC BUSINESS REPORT-October 3, 2019-Lagercrantz announces acquisition of 70% of Frictape
(C)2019 M2 COMMUNICATIONS http://www.m2.com
Lagercrantz Group AB (STO:LAGRB), a seller of products and solutions in the fields of electronics and communications, announced on Wednesday the acquisition, through a newly established Finnish company, of the shares in Finland-based Frictape Net Oy and Estonian company Frictape Net Ou (together Frictape Net group).
These acquired operations are suppliers of safety products for helidecks, primarily offshore, globally. Frictape generates annual revenue of approximately EUR7m, with good profitability.
These acquisitions are being carried out together with the former owners Jaakko and Tellervo Uotila, with Lagercrantz becoming the majority owner with just over 70% and the former...
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