24 June 2021
LIFCO ACQUIRES NEXT HYDRAULICS SRL IN ITALY
Lifcohas signed an agreement to acquire a majority of the shares in Next Hydraulics Srl.
The company is a leading manufacturer of telescopic cranes mainly used on light vehicles and produces also stabilizers for vehicles.
Next Hydraulics has 43 employees and reported net sales of approximately MEUR 21 in 2020. The company is based in Boretto, Italy. Next Hydraulics will be consolidated in Business Area Systems Solutions, division Service and Distribution. Consolidation is expected to take place in July, 2021.
The acquisition will not have any significant effect on Lifco's earnings or financial position in current financial year.
Please visit www.nexthydraulics.comfor more information.
For more information please contact:
CEO and President Lifco
Media and investor relations manager Phone +46 730 244 872, e-mail firstname.lastname@example.org
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.
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Lifco AB (publ) published this content on 24 June 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 June 2021 06:24:02 UTC.