ERIKS Holding Deutschland GmbH has sold its subsidiary in Germany Schmitztechnik GmbH to Lagercrantz Group AB.
Schmitztechnik is a leading firm in several OEM segments with customized silicone-, rubber-, PUR-, and industrial plastic products, mainly serving the German market.
Lagercrantz is a technology group offering world-leading, value-creating technology using either proprietary products or products from leading suppliers. The group consists of about 50 companies, each with a niche focus on a specific sub-sectors. High value-creation is common to all subsidiaries, including a high degree of customization, support and services. Lagercrantz is active in seven countries in Europe and in China and the US. The group has more than 1,300 employees and revenues of approximately US$380 million. The company’s shares are listed on Nasdaq Stockholm since 2001.
“Lagercrantz acquires and develops successful companies in Northern Europe with a leading position in their niche. Schmitztechnik fits well into that description with a strong performance over many years”, says Jörgen Wigh, CEO of Lagercrantz Group.
ERIKS is an international industrial service provider, a multi-product specialist offering a wide range of high-quality mechanical engineering components and associated technical and logistics services. The company offers its products and services to the industrial end user based on its expertise in technology, its broad and deep knowledge of market developments, product properties, product applications, product processing, logistics and its state-of-the-art infrastructure. The group has branches in 18 countries and a workforce of approximately 7,500 employees, with a strong position in Western Europe, the US and Southeast Asia.
“For ERIKS, the reason to divest Schmitztechnik is strategically motivated. It gives ERIKS Germany room to further develop its core business. We believe that Lagercrantz Group, a reputable company, will offer a great platform for further development and growth of Schmitztechnik," says Simon Franken, ERIKS CEO.
Oaklin's team in Germany advised the seller. The teams in Denmark and the Netherlands supported this transaction.
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