13.08.2007

Kinshofer bought by Lifco AB

Swedish industrial company Lifco AB has purchased Kinshofer GmbH the German-based manufacturer of crane and excavator attachments for an unknown sum. The purchase is aimed at enhancing Lifco’s overall product portfolio.

Fredrik Karlsson, President of Lifco AB said: “The addition of Kinshofer to the Lifco Group will enable us to both broaden the scope of our product range and develop the intra-company network to achieve a more efficient and comprehensive approach to the markets.”

Thomas Friedrich, Managing Director of Kinshofer Group commented: “This is a good move for the Kinshofer Group. There are definite synergies between Kinshofer and the other companies in Lifco’s Sorb division, not only the sales side of the business but also areas like procurement and R&D will benefit from the acquisition.”

The Kinshofer group will continue to focus on the design, manufacture and sales of crane and excavator attachments.

Lifco intends to run the business with the current management and employees. The addition of Kinshofer to the Lifco Group is a strategic move that will secure the long-term futures of both groups.

Lifco AB is an industrial group that consists of two main business areas, Sorb Industries and Lifco Dental Group. Sorb Industries is engaged in contract manufacturing, sawmill equipment, service interiors for commercial vehicles, demolition machines and environmental technology. Sorb Industries has a turnover of approx 200 million Euro. Lifco Dental Group is Scandinavia’s leading wholesaler of dental materials and equipment with more than 25 000 dentists as customers in Sweden, Denmark, Norway and the Baltics. Lifco Dental Group has a turnover of approx 100 million Euro.

The Lifco group employs about 1,500 people with subsidiaries in 15 countries and sales in more than 20 countries. As a strategic investor, Lifco is continuously looking for opportunities to strengthen market position either through acquisitions or organic growth. Lifco is a wholly-owned subsidiary of Carl Bennet AB.