Lifco has signed an agreement to acquire a majority of the shares of the Italian company Cormidi SRL. The company is a leading manufacturer of mini dumpers and mini loaders.
In 2020, Cormidi reported net sales of approximately MEUR 13. The company is based in Roccadaspide in Salerno, Italy and has 45 employees. Cormidi will be consolidated in Business Area Demolition & Tools.
The transaction is expected to close during the first quarter of 2022, subject to relevant regulatory approvals.
The acquisition will not have any significant effect on Lifco’s earnings or financial position in the financial year 2022.
Please visit www.cormidi.com for more information.
For more information please contact:
CEO and President Lifco
Media and investor relations manager
Phone +46 730 244 872, e-mail email@example.com
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.