Lifco (https://lifco.se/) has signed an agreement to acquire ErgoPack's distributor in the US. Lifco acquired the majority of the German company ErgoPack in 2019.
ErgoPack is the leading manufacturer of ergonomic and mobile pallet strapping systems, which are used globally in different industries. ErgoPack's distributor in the US generated sales of approximately USD 4.2 million in 2020 and 100% of the sales is generated from ErgoPack which means that the acquisition will have very limited effect on Lifco's consolidated external sales. The acquisition is an assets and liabilities acquisition and the business will be consolidated in business area System Solutions. Consolidation is expected to take place in May, 2021.
The acquisition will not have any significant effect on Lifco's earnings or financial position in the current financial year.
Please visit www.ergopack.de for more information.
For more information please contact:
Per Waldemarson
CEO and President Lifco
E-mail per.waldemarson@lifco.se
Åse Lindskog
Media and investor relations manager
Phone +46 730 244 872, e-mail ir@lifco.se
About Lifco
Lifco offers a safe haven for small and medium-sized businesses. Lifco's business concept is to acquire and develop market-leading niche businesses with the potential to deliver sustainable earnings growth and robust cash flows. Lifco is guided by a clear philosophy centred on long-term growth, a focus on profitability and a strongly decentralised organisation. The Group has three business areas: Dental, Demolition & Tools and Systems Solutions. At year-end 2020, the Lifco Group consisted of 175 operating companies in 31 countries. In 2020, Lifco reported EBITA of SEK 2,702 million on net sales of SEK 13.8 billion. The EBITA margin was 19.6 per cent. Read more at www.lifco.se.