Latour Industries to acquire Allgon from Verdane Capital Advisors for $71m.

Latour Industries, an investment company, to acquire Allgon, a manufacturer of radio remote control solutions for industrial production, from Verdane Capital Advisors, a private equity firm, for $71m. Latour Industries offers $1.3 in cash per Allgon share of series B. "We have been monitoring the market for industrial radio controls and find Allgon and its subsidiaries well positioned within a fragmented and growing market. The growth is driven by a global increasing demand for safe and reliable radio controls in many industrial activities. We see further opportunity in a consolidation in the market. Latour Industries will support the strategic agenda that the company has initiated and is looking forward working with the management towards the strategic objectives," Björn Lenander, Latour Industries CEO.