Lifco has signed an agreement to acquire all the shares of the British company Cleveland Cascades Ltd. The company is a global leader in the design and manufacture of bespoke dry bulk loading chutes. Its Cascade technology largely eliminates dust pollution and is used in ship and silo loading chutes.
In 2020, the acquired operation reported net sales of approximately MGBP 5.1. The business is based in Stockton-on-Tees, England and has around 30 employees. The company will be consolidated in Business Area Systems Solutions, division Environmental Technology.
The acquisition will not have any significant effect on Lifco’s earnings or financial position in current financial year.
Please visit www.clevelandcascades.co.uk 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.