Lifco has signed an agreement to acquire the majority of Norwegian Rustibus Worldwide AS. The company is a leading provider of surface preparation tools and safety equipment for customers in the marine industry.
In 2018, the acquired operation reported net sales of approximately 56 MNOK. The business is headquartered outside Bergen in Norway and employs about 25 people. The operation 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.rustibus.com for more information.
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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 implying that the company has a long-term view on its holdings, a focus on profitability and a strongly decentralised organisation. The Group has three business areas: Dental, Demolition & Tools and Systems Solutions. At the end of 2018 the Lifco Group consisted of 146 operating companies in 29 countries. In 2018 Lifco reported EBITA of SEK 2,168 million on net sales of SEK 12.0 billion. The EBITA margin was 18.1 per cent. Read more at www.lifco.se.