Lagercrantz Group: Lagercrantz acquires Waterproof Diving International AB

"Waterproof has the market's most innovative and highest quality diving suits and has thereby gained a large group of devoted customers among those who work with diving or that have diving as their main hobby. Waterproof is extremely good at product development where the company has established several new standards and won several international design awards. We are a strong believer in the company's continued international growth," says Jonas Ahlberg, Head of the Niche Products division.

"It is now almost 40 years since my brother and I started Waterproof. It feels reassuring to hand over responsibility to a long-term and stable owner, which can help us to take the business to the next level and enable more people to discover our underwater world," says Björn Ehlmé, co-founder and CEO of Waterproof. "Water covers more than 70% of the earth's surface and I am looking forward to continuing to develop innovative and high-quality equipment for active divers," says Göran Ehlmé, Head of R&D and co-founder of Waterproof.

Waterproof Diving International will be part of the Niche Products division from September 2022. The founders Björn and Göran Ehlmé will continue as minority owners with 7% of the shares in the company. The acquisition is expected to generate a small positive contribution to Lagercrantz Group's earnings per share on an annual basis.

Stockholm, 8 September 2022

Lagercrantz Group AB (publ)