Lagercrantz Group has newly acquired the Swedish company Tormek AB. Tormek is a leader within sharpening systems for edge tools such as knives, chisels as well as tools for woodcarving and woodturning. The customers are mainly craftsmen and others who work with wood. The company’s products are sold in about 40 countries, with the USA, Germany and Sweden as the largest markets. Tormek’s operations are based in Lindesberg and it generates annual revenue of about MSEK 90 with good profitability.
Karin Jansson, principal owner: “The company has been modernised in a number of respects in recent years and the work has focused on strengthening the brand and our offering. With the help of a financially strong and long-term owner such as Lagercrantz, we can continue the work on expanding the business towards, both towards new markets and customer segments.”
“Lagercrantz acquires and develops businesses with a leading position in their niche. Tormek fits well into that description and also has a well-established brand in Sweden and internationally.” says Jörgen Wigh, President and CEO of Lagercrantz Group.
https://www.lagercrantz.com