Saga Corporate Finance has assisted the shareholders of Libra-Plast AS in the sale of 75% of the shares to the listed Lagercrantz Group AB. Together with the founders, family Lillebø and the management team, remaining as shareholders of 25%, the business will continue its growth path both in Norway and internationally.
Libra is a Norwegian manufacturer of high-quality marine doors, hatches, and storage units. The Company’s headquarters is located in Hareid, in the maritime cluster on the Møre coast. The Company has production facilities in Norway, Latvia, and Vietnam and delivers products worldwide to various marine segments. The Company reported revenues of MNOK 177 in 2020. Libra was established in 1954 by Albert Lillebø and was prior to the transaction controlled by the second and third generation of the family. Arne Lillebø has been the chairman of Libra, while the third generation, Anders and Kim, have held operational roles in the Company. The management team, also being shareholders in the Company, has been actively involved in finding a new partner that could support Libra’s future development.
Quote from family Lillebø:
“Saga has been a trustworthy partner for us before and throughout this sales process. We want to thank the team for taking great care of the values created over three generations and ensuring that the Company’s interests, its employees, and other stakeholders are well maintained. Saga managed to achieve a good valuation for the business in addition to securing the softer, but equally important, values.”