December 18, 2017
Lindab International AB: Lindab acquires Irish ventilation company
As part of the accelerated strategy execution to develop its ventilation business, Lindab International AB (publ) has acquired A.C. Manufacturing Ltd with an annual turnover of approximately 6 MEUR and 40 employees which makes A.C. Manufacturing the largest manufacturer of ventilation ducting in Ireland. The acquisition is made through Lindab (Irl) Ltd. The seller is Shay Connolly, chairman and managing director of A.C. Manufacturing Ltd.
This acquisition marks an expression of continued confidence in the Irish market by Lindab, one of Europe's leading suppliers of ventilation products and solutions. The combination of the two businesses provides excellent opportunities to improve customer offering and project sales.
Lindab in Ireland is the country's largest distributor of specialist ventilation equipment. With the addition of A.C. Manufacturing Ltd, Lindab now offer the full range of ventilation products and systems in the Irish Market, from ducting to air handling units.
- We feel confident that the combined businesses of Lindab and A.C. Manufacturing will further strengthen our ability to respond to the Irish market demands in a growing and more advanced ventilation market. We are particularly pleased to welcome Shay Connolly and his team into the Lindab family, says Patrick Boland managing director of Lindab (Irl) Ltd.
Fredrik von Oelreich, President and CEO
Mobile: +46 (0)431 85424
Fredrik Liedholm, Executive Vice President Director Legal, M&A and HR
Mobile: +46 (0)723 885 742
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 7,849 m in 2016 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 2016, the Nordic market accounted for 47 percent, Western Europe for 33 percent, CEE/CIS (Central and Eastern Europe plus other former Soviet states) for 17 percent and Other markets for 3 percent of total sales.
The share is listed on the Nasdaq OMX Nordic Exchange, Stockholm List, Mid Cap, under the ticker symbol LIAB.
Press Release as PDF