Lagercrantz Group acquires Idesco OY

Lagercrantz Group acquires Idesco OY

 

Lagercrantz Group has today acquired over 90% of the shares in the Finnish
company Idesco OY.

Idesco develops and sells products based on RFID technology (Radio Frequency
IDentification). The company is the market leader in Finland within access
control products for high-security, industrial and commercial properties and is
also active in areas such as industrial identification solutions. Idesco has its
headquarters in Oulu, Finland and has sales companies in Sweden and the UK.
Idesco recorded sales in 2011 of EUR 5.6m with an operating profit margin,
before goodwill depreciations, (EBITA) of 13%.

Jörgen Wigh, President and CEO of Lagercrantz Group, commented: "Idesco will
become an important addition to our Electronics division. Idesco has a strong
domestic market position and we aim to further expand geographically and into
the application fields outside access control. Idesco will, above all, cooperate
geographically with Lagercrantz other units in Northern Europe."

Jari Valtonen, Managing Director of Idesco: "With Lagercrantz as owner, we gain
a financially strong and long-term owner that gives us the opportunity to
independently develop the company further by broadening us in the Nordics and
increase exports of its products in northern Europe."

Seller is the Finnish private equity company Sentica Partners Oy. The management
of Idesco retains ownership to nearly 10% of the shares.

Idesco will be part of Lagercrantz Division Electronics. The acquisition is
expected to provide a small positive contribution to earnings per share.

Stockholm, 20 March 2012
Lagercrantz Group AB (publ)

For further information, contact:
Jörgen Wigh, President & CEO, Lagercrantz Group AB, telephone +46 8 700 66 70
Magnus Söderlind, Executive Vice President Business Development, Lagercrantz
Group AB, telephone +46 8 700 66 80