Westmatic Invest has been acquired by Lagercrantz Group
Westmatic Invest AB has been acquired by Lagercrantz Group. Through the acquisition of Westmatic – consisting of Westmatic i Arvika AB, Westmatic Corporation in Buffalo, New York, as well as wholly and partly owned subsidiaries in Norway, Canada and Australia – Lagercrantz strengthens its Niche Products division
Westmatic, with roots dating back to 1974, is a leading supplier of environmentally friendly heavy vehicle wash systems. With manufacturing facilities in Arvika, Sweden, and Buffalo, New York, the company provides innovative washing solutions to a wide selection of customers, including commercial truck washes, truck fleet operators, and public and private operators of bus and train fleets. In the past decades, Westmatic has established a strong market position in the Nordics and North America, with exports to other parts of the world. Today, the company is in a very good position to benefit from an increasing demand for environmentally friendly vehicle washing systems, fuelled by stricter environmental regulation. Headquartered in Arvika, Sweden, Westmatic generates annual revenues of approximately US$20m with a proforma EBITA in 2021 of approximately US$2.8m.
Lagercrantz Group is a technology group offering value-creating technology, using either proprietary products or products from leading suppliers. The Group consists of some 60 companies, each with a focus on a specific sub-market. Within the Group’s niche products business segment, the focus is on finding, acquiring and refining niche companies with proprietary products. The Group has approximately 1,800 employees and annual revenues of approximately US$550m. Lagercrantz is listed on Nasdaq Stockholm Large Cap.
Oaklins’ team in Sweden is proud to have acted as financial advisor to the owners and management of Westmatic Invest in this transaction. The team started working together with the sellers in 2020 to prepare the company for the upcoming sale process which was initiated in August 2021 and completed in January 2022.
Jan Sundell
Founder and former Chairman, Westmatic Invest AB
Talk to the deal team
Related deals
Lauak Group has sold a majority stake to Wipro Infrastructure Engineering
After careful strategic reflection to secure the group’s future, Lauak Group’s shareholders have chosen an industrial partnership, in line with the ongoing consolidation trend in the market. Attracted by opportunities for innovation and international expansion, the Charritton family, founders and long-term shareholders, regard Wipro Infrastructure Engineering as a trusted industrial partner. The historical shareholders remain minority stakeholders, and the current CEO continues to lead Lauak.
Learn moreThe assets of IMG have been acquired by SLV Mecklenburg-Vorpommern
The assets of Ingenieurtechnik und Maschinenbau GmbH (IMG) have been acquired by SLV Mecklenburg-Vorpommern GmbH (SLV-MV) through an asset deal as part of IMG’s insolvency proceedings.
Learn moreTecnosafra has been acquired by Tranorte
Tecnosafra Sistemas Mecanizados Ltda. has been acquired by Tranorte reinforcing their commitment to delivering agricultural equipment and high-quality service to producers across their regions. The integration expands geographic coverage, strengthens after-sales capabilities and enhances access to agriculture technologies, parts availability and field support teams.
Learn more