10/01/2021 | Press release | Distributed by Public on 10/01/2021 04:05
Investment AB Latour has, through its wholly-owned subsidiary DENSIQ AB, part of Latour Industries AB, acquired DEPAC Anstalt (DEPAC) based in Lichtenstein.
DEPAC is a leading designer and manufacturer of mechanical seals used in industrial applications. The company, founded in 1983, is headquartered in Lichtenstein with a subsidiary in Austria. Net sales 2020 amounted to EUR 8 m with strong operating margin and growth.
"The acquisition of DEPAC further strengthens our offering within advanced sealing technology. Inhouse manufacturing in combination with added geographies opens new and exciting possibilities to solve more of our customers complex and critical problems. We are very happy to welcome DEPAC into the DENSIQ family", says Krister Seleskog, CEO of DENSIQ AB.
"We welcome the acquisition and the opportunity of accelerated growth made possible by becoming part of DENSIQ", says Peter Scrivener, CEO and owner of DEPAC.
As an effect of the acquisition the net debt (excl. IFRS 16) of the Latour Group is expected to increase compared to the net debt level at the end of June 2021, to around SEK 6.8 billion, all else equal.
Göteborg, October 1, 2021
INVESTMENT AB LATOUR (PUBL)
Johan Hjertonsson, CEO
For further information, please contact:
Krister Seleskog, CEO DENSIQ AB, +46 720 10 21 40
Gustav Samuelsson, Investment Director Investment AB Latour, +46 735 52 55 59
Latour Industries consists of a number of operating areas, each with its own business concept and business model. The ambition is to develop independent entities within the business area which can eventually become new business areas within the Latour Group. Latour Industries has an annual turnover of SEK 3 billion.
Investment AB Latour is a mixed investment company consisting primarily of a wholly-owned industrial operations and an investment portfolio of listing holdings in which Latour is the principal owner or one of the principal owners. The investment portfolio consists of ten substantial holdings with a market value of about SEK 82 billion. The wholly-owned industrial operations has an annual turnover of SEK 16 billion.