Advised on Sale of Company

Consumer & Retail

Lagercrantz Group AB

Swedish listed technology group Sweden

Acquired 100% of the Shares

Kondator AB

Developer and marketer of accessories for office workplaces Sweden

Advised Kondator AB on its sale to Lagercrantz Group AB

Lagercrantz 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. Lagercrantz Group is active in seven countries in Northern Europe, in China and in the USA. The Group has approximately 1,200 employees.

 

Kondator had experienced strong growth, both in Sweden and internationally. The company had also grown with its own product range and hence they wanted an owner with substantial product experience and international presence. Lagercrantz is a long-term owner which fits the previous owners criteria well.

 

Jan Westerlund, founder of Kondator, said: “Kondator has performed strongly since the business was established 30 years ago. The product range has developed over time and for the past 15 years we have focused on the current range, which mainly consists of proprietary products. With Lagercrantz as owner, I am certain that we will be able to continue the positive development of Kondator.”

 

Jörgen Wigh, President and CEO of Lagercantz Group, said: “Lagercrantz acquires and develops businesses with leading positions in interesting niches. Kondator has shown good profitability for several years and is well-established in its niche. We intend to support the company’s ambition to develop and expand its business operations.”

 

Kondator develops and markets accessories for offices and workplaces. Customers mainly consist of office furniture manufacturers, distributors and resellers of office furniture with an ergonomic focus. The majority of sales are generated in Sweden, but Kondator’s exports are increasing to the Nordic region and to the rest of Northern Europe. The company’s operations are based in Tyresö outside Stockholm and it generates annual revenues of about MSEK 60 with good profitability.

Experts who worked on the transaction