Concentric buys Licos Trucktec

摘要

Diesel engine pump, Concentric AB of Fagerhult, Sweden, has acquired Licos Trucktec GmbH (Licos) of Markdorf, Germany, for EUR9.25m, where EUR8,750,000 was paid in cash and EUR500,000 paid with shares (64,308) in Concentric. Concentric is to assume a debt of EUR3.1m, as part of the purchase agreement. (The seller of Licos, Dr Wolf Beteiligungs GmbH, has committed not to sell the Concentric shares within an 18 months period). Licos is a producer of electromagnetic clutches for water pumps and fan applications for the truck industry, with belt driven components for heavy-duty diesel engines completing its product portfolio. In 2012 sales totalled EUR14m and the earnings before interest and tax (EBIT) margin was 1.8% (approximately EUR0.25m). Concentric says that Licos employs around 55 people from a single production and engineering facility in Markdorf. The current managing director of Licos, Dr Andreas Wolf, will remain in the company and help integrate the business over the coming months. As part of consideration for his shares in Licos, and part of the total purchase price, Dr Andreas Wolf has received EUR 500,000 in Concentric shares also ensuring his long-term commitment to the combined company.