Lifco has signed an agreement to acquire all of the shares in the British company Spinaclean Ltd. The company develops and sells vacuum cleaners and pressure washers for indoor and outdoor high-level cleaning.
Spinaclean is based in Northampton in the UK and employs around 20 employees. In 2020, Spinaclean reported net sales of approximately GBP 5.8 million. The company will be consolidated in Business Area Systems Solutions, division Environmental Technology. Consolidation is expected to take place in April, 2021.
The acquisition will not have any significant effect on Lifco's earnings or financial position in current financial year.
Please visit www.spinaclean.com for more information.
<h5 style="text-align:start; margin-bottom:4px">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.
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