Lindab UK has acquired all shares in Ductmann Ltd., a UK manufacturer of rectangular and fire rated ductwork and silencers.
Ductmann Ltd. was founded in 1994 and has its Head Office in Bilston in the Birmingham area and a branch in Woolston near Manchester. Ductmann has an annual sales turnover of 3.6 MGBP (4.2 MEUR) with approximately 40 employees.
The acquisition is a natural step for Lindab to further strengthen the product offering for ventilation systems in the UK. Ductmann is certified for production of fire rated ductwork systems, an important and growing product segment. The combination of the two businesses provides excellent opportunities to increase the service to our customers.
Ola Ringdahl, President and CEO comments: "The acquisition of Ductmann will bring immediate business opportunities by allowing us to provide a complete range of circular, rectangular and fire rated duct systems in the UK. Further, this acquisition will improve the development of our acoustic offering with local production".
The acquisition will contribute positively to Lindab's result from the date of the closing, which is the 2nd of April 2019.
Further information regarding Ductmann Ltd.: www.ductmann.co.uk
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This information was made public by the below mentioned contacts
on 2 April 2019 at 17:00 (CEST).
Contact:
LINDAB GROUP
Ola Ringdahl, President and CEO
Email:ola.ringdahl@lindab.com
Phone: +46 (0) 431 850 00
Fredrik Liedholm, EVP Director Legal, M&A and HR
Email: fredrik.liedholm@lindab.com
Mobile: +46 (0)72 38 85742
Lindab in brief:
Lindab develops, manufactures, markets and distributes products and system solutions for simplified construction and improved indoor climate. The products are characterised by their high quality, ease of assembly, energy efficiency, consideration towards the environment, and are delivered with high levels of service. Altogether, this increases customer value.
The Group had sales of SEK 9,326 m in 2018 and is established in 32 countries with approximately 5,100 employees. The main market is non-residential construction, which accounts for 80 percent of sales, while residential accounts for 20 percent of sales. During 2018, the Nordic market accounted for 45 percent, Western Europe for 33 percent, CEE/CIS (Central and Eastern Europe plus other former Soviet states) for 20 percent and Other markets for 2 percent of total sales.
The share is listed on the Nasdaq Stockholm List, Mid Cap, under the ticker symbol LIAB.
