Continued internationalization with Swedish Large Cap listed technology group
Deal Flash
Westmatic Invest AB has been sold to Lagercrantz Group. Through this acquisition – consisting of Westmatic i Arvika AB and Westmatic Corporation in Buffalo, New York, as well as wholly and partly owned subsidiaries in Norway, Canada and Australia – Lagercrantz strengthens its Niche Products division.
Westmatic, with roots dating back to 1974, is a leading supplier of environmentally friendly heavy vehicle wash systems. With manufacturing facilities in Arvika, Sweden, and Buffalo, New York, the company provides innovative washing solutions to a wide range of customers, including commercial truck washes, truck fleet operators, and public and private operators of bus and train fleets.
It feels reassuring to hand over responsibility to a long-term and stable owner that can help Westmatic develop its business in the Nordics, North America and elsewhere. I am deeply impressed by Oaklins’ dedication, professionalism and methodical work, which resulted in a deal far exceeding our expectations.JAN SUNDELL, FOUNDER AND FORMER CHAIRMAN, WESTMATIC INVEST AB, SWEDEN
Oaklins played a major role in finding the right partner
Oaklins’ team in Sweden acted as financial advisor to the owners and management of Westmatic in connection with the sale to Lagercrantz. The team started working together with the sellers in 2020 to prepare the company for the upcoming sale process, which was initiated in August 2021 and completed in January 2022.
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