DOMETIC’S ACQUISITION OF SEASTAR SOLUTIONS NOW CLOSED

On 15 December, 2017, Dometic closed the acquisition of SeaStar Solutions. Dometic will consolidate SeaStar Solutions as of December 15, 2017.

As announced on November 22, Dometic entered into an agreement to acquire SeaStar Solutions from affiliates of American Securities LLC. Completion of the transaction was subject to certain conditions, including clearance from the relevant competition authorities. All approvals have now been obtained. Dometic will pay a cash purchase price of USD 875 million for SeaStar Solutions, on a cash and debt free basis. Transaction costs will amount to approximately USD 7 million (approximately SEK 60 million).

SeaStar Solutions is a leading, global provider of vessel control, fuel systems and system integration to the marine industry. SeaStar Solutions is the market leader in its key product areas with strong market shares. The company today operates some of the strongest brands in the market, such as SeaStar, Xtreme, MOELLER, Optimus and Sierra. The Sierra aftermarket platform is the world’s largest independent marine aftermarket supplier. SeaStar Solutions is based in North America and employs approximately 1,250 people.

 “I am truly excited about welcoming SeaStar Solutions to Dometic. The company will play a key role in our strategic ambition to build a broader global leadership in the marine business. As a combined company, we will be able to offer our partners and customers a very strong and unique range of products, services and support. The whole Dometic team looks forward to start working together with our new colleagues from SeaStar Solutions”, says Roger Johansson, President and CEO of Dometic.

Acquisition summary
• Dometic acquires SeaStar Solutions, a leading provider of vessel control systems and aftermarket products to the attractive leisure marine industry.
• Cash purchase price of USD 875 million on a cash and debt free basis.
• Transaction costs of approximately USD 7 million (approximately SEK 60 million).
• Sales and cost synergies of USD 20 million per annum, fully realized within 3 years.
• Immediately accretive to Dometic’s operating margin and EPS.
• Net debt / EBITDA ratio at closing of 3.3x. Net debt / EBITDA ratio is expected to be within the target level of 2x in 24 months.
• Dometic intends to maintain its dividend policy of at least 40 per cent of net profit.

For further information, please contact:
Johan Lundin, Head of Investor Relations & Communications
Phone: +46 8 501 025 46
Email: ir@dometic.com

This information is information that Dometic Group AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at around 7:30 pm CET on December 15, 2017.

ABOUT DOMETIC
Dometic is a global market leader in branded solutions for mobile living in the areas of Climate, Hygiene & Sanitation and Food & Beverage. Dometic operates in the Americas, EMEA and Asia Pacific, providing products for use in recreational vehicles, trucks and premium cars, pleasure and workboats, and for a variety of other uses. Dometic offer products and solutions that enrich people’s experiences away from home, whether in a motorhome, caravan, boat or a truck. Our motivation is to create smart and reliable products with outstanding design. We operate 22 manufacturing/assembly sites in nine countries, sell our products in approximately 100 countries and manufacture approximately 85% of products sold in-house. We have a global distribution and dealer network in place to serve the aftermarket. Dometic employs approximately 6,500 people worldwide, had net sales of SEK 12.4 billion in 2016 and is headquartered in Solna, Sweden.

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About Us

Dometic is a global market leader in branded solutions for mobile living in the areas of Climate, Hygiene & Sanitation and Food & Beverage. Dometic operates in the Americas, EMEA and Asia Pacific, providing products for use in recreational vehicles, trucks and premium cars, pleasure and workboats, and for a variety of other uses. Dometic offer products and solutions that enrich people’s experiences away from home, whether in a motorhome, caravan, boat or a truck. Our motivation is to create smart and reliable products with outstanding design. We operate 22 manufacturing/assembly sites in nine countries, sell our products in approximately 100 countries and manufacture approximately 85% of products sold in-house. We have a global distribution and dealer network in place to serve the aftermarket. Dometic employs approximately 6,500 people worldwide, had net sales of SEK 12.4 billion in 2016 and is headquartered in Solna, Sweden.

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