Altor acquires Q-matic
Altor Fund II (“Altor”) has entered into an agreement to acquire Q-matic, the world market leader in providing queue management solutions, from 3i Group Plc, Litorina Kapital and the founding families.
Q-matic develops, manufactures and markets complete systems for queue management solutions. The systems are primarily sold to the public sector, healthcare institutions, financial institutions and retailers. Q-matic is expected to generate revenues of SEK 400 million for the year ending 31-August-2007 with a vast majority of sales being generated outside of Scandinavia.
“We are eager to continue developing Q-matic together with a professional owner by expanding into new markets and customer segments. We are present in an industry with solid growth prospects across geographies for several years to come’’, says Åke Stråberg, CEO of Q-matic.
“We see Q-matic as an excellent platform for a continued international expansion and look forward to further develop the business into a truly multinational company within queue management solutions”, says Fredrik Strömholm, partner at Altor Equity Partners AB.
“Åke Stråberg has built an impressive management team and we truly look forward to support the company in its further product, service and market development”, says Andreas Hiller, director at Altor Equity Partners AB.
Q-matic’s systems are currently sold in 102 countries globally through 9 subsidiaries and 52 distributors and the company employs approximately 200 employees. The company has consistently focused significant internal resources and capital into product development at the R&D department in Mölndal, and Q-matic is currently in the process of rolling out a new product line of queue management solutions software and hardware.