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Lagercrantz has today completed the acquisition of 96% of the shares of Prido AB.
Prido is one of Europe's largest manufacturers of industrial folding doors. The products are sold to a wide range of customer groups, particularly to smaller industrial companies. For more information about Prido, please visit https://www.prido.com
In recent years, Prido has generated annual revenues of around MSEK 300 with operating profits (EBITA) of just under MSEK 70, and a return on working capital, P/WC (EBITA/operating WC) well above 100%. For the year ending April 30, annual revenues are expected to be MSEK 270 with operating profits at MSEK 64-68. The EV/EBITA multiple was concluded at approximately 7x.
The acquisition was previously announced February 7, 2024, and has now received regulatory approval. Prido will be part of the Niche Products Division as of February 2024. The acquisition is expected to generate a positive contribution to Lagercrantz Group's earnings per share.
Stockholm, February 22, 2024
Lagercrantz Group AB (publ)