Teqnion acquires UK Lanyard Makers Ltd
Teqnion AB has acquired all outstanding shares in UK Lanyard Makers Ltd.
UK Lanyard Makers or UKLM was founded in 2015 and based in Dunshold, UK. The company designs and produces lanyards for clients that use the products as a critical part of their operation e.g. major sport events, business fairs and product launches. These customers, as opposed to the broader customer base in the lanyard market value design quality, delivery accuracy and reputation. Through years of catering to this niche, Kevin, Jennifer and their team have built a robust company with a mindset of always trying to improve the operations. The couple with continue to lead the UKLM team towards the future.
UKLM, just as most UK businesses has been deeply impacted by the Covid lockdowns. During the last 3 years they managed to deliver roughly £1.3 million in revenue with robust margins.
"We're very happy to join the growing Teqnion family as we have the same values as Daniel and Johan when it comes to people and business. The opportunity to learn from the group and add to it's value is really exciting" says Kevin and Jennifer.
"This is like Santa's workshop! A remarkable team with absolute efficiency and true passion for delivering customer value." says Johan Steene, CEO of Teqnion.
"Both UK Lanyard Makers Ltd and Teqnion AB (publ) were an absolute pleasure to work with and I wish both parties personally and professionally all the very best for the future." says Andrew Dodd at KBS corporate who represented the vendors in the transaction
The acquisition is effective immediately and is not expected to have any significant effect on Teqnion's 2024 fiscal year financials.
The acquisition of UKLM is Teqnion's seventh acquisition outside of Sweden and our sixth in the UK.
Read more at www.uklanyardmakers.co.uk and at www.teqnion.se.
For more information, please contact:
Johan Steene, VD, phone: +46 73 333 57 33, E-mail: johan@teqnion.se
Daniel Zhang, CXO, phone: +46 721 555 695, E-mail: daniel@teqnion.se
Teqnion AB
Dalvägen 14,
169 56 Solna
Phone: +46 (0)8-655 12 00,
E-mail: info@teqnion.se
About Teqnion
Teqnion AB is an industrial group that acquires stable niche companies with good cash flows to develop and own with an eternal horizon. The subsidiaries are managed decentralized with support from the parent company. We operate in many industries with leading products, which gives us good resistance to economic fluctuations as well as solid industrial know-how. For us, it is central to focus on profitability and long-term sustainable business relationships. Teqnion's shares TEQ are traded on the Nasdaq First North Growth Market. Redeye AB is Certified Adviser.