Bluebox Advises on the Sale of Fireco to Lagercrantz Group

Bluebox is delighted to announce the sale of Fireco, a leading UK provider of fire safety and building compliance solutions, including the industry-renowned Dorgard®, to Lagercrantz Group, a Swedish publicly listed technology group.  Whilst the deal terms have not been disclosed, the management team led by James Wheeler (MD), Kristian Salter (CFO) and Drew Hoggatt (CTO), will remain as minority shareholders.

Established in 1994, Fireco’s solutions have been keeping buildings safe across the country for years. Its flagship and revolutionary product, Dorgard®, can be found fitted to tens of thousands of doors and was the first wireless fire door retainer to enter the market. Fireco continues to be a pioneer in the field, providing a comprehensive suite of innovative compliance products and services to its customers.

Lagercrantz Group offers world-leading, value-creating technology across nine countries in Northern Europe as well as in China, India and the USA. The Group has approximately 2,500 employees and annual revenues of around £530m. With an extensive track record of owning and developing product manufacturers, along with considerable experience in the fire safety space, Lagercrantz is perfectly placed as a long-term partner to continue to drive Fireco on its exciting trajectory.

 

James Wheeler, Managing Director at Fireco commented:

“Bluebox managed the process excellently from start to finish. Having been highly recommended by our tax advisors, we were impressed with their ability to identify a range of international parties who could take Fireco to the next level. The advice offered throughout was invaluable and they expertly negotiated and managed a transaction with Lagercrantz.  We are very grateful for their support and would certainly recommend them to any business owner considering the sale of their private business.”

 

Jonathan Rich, Managing Director at Bluebox commented:

“With multiple stakeholders, it was critical for us to identify a partner that could meet everybody’s ambitions and goals. In Lagercrantz, we feel we have provided the perfect new home for the business, and it was a great pleasure advising on this transaction. The future for Fireco is extremely exciting under Lagercrantz’s ownership and we wish James, Kristian and Drew every success under new ownership.”


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