Inwido completes acquisition of Outrup Vinduer & Døre in Denmark

This information is such that Inwido AB (publ) is obliged to publish in accordance with the Swedish Securities Market Act and/or Financial Instruments Trading Act. The information was submitted for publication on Monday, 4 July 2016 at 11:30 a.m.

The Competition Authority has approved Inwido’s acquisition of the Danish window and door company Outrup Vinduer & Døre in Denmark. Inwido acquires 25 percent of the shares for DKK 63 million on a debt-free basis from 16 August 2016. The acqusition of 25 percent of the shares will be financed by utilizing existing liqudity and by raising new loans. The parties have also agreed that the remaining shares will be acquired in early 2018 (65%) and 2019 (10%). The purchase price for the remaining shares will be based on future financial performance of Outrup Vinduer & Døre. The approval is related to 100 percent of the shares. 

Outrup was founded in 1968 by Harry Ringgaard whose son Mogens now manages the company and is its principal owner. The company sells and produces windows and doors in wood and wood/aluminium for the Danish market. The company has a strong position, particularly among carpenters, and is focused on energy-efficient and modern window and door solutions.

The acquisition strengthens Inwido’s position in the Danish market and is expected to generate significant opportunities for expansion and synergies with Inwido’s existing operations. Outrup has some 150 employees and generated sales of slightly more than DKK 180 million in 2015.

For more information, please contact:
Inwido AB
Håkan Jeppsson, President and CEO Tel.: 46 (0)10-451 45 51 or 46 (0)70-550 15 17
Peter Welin, CFO Tel.: 46 (0)10-451 45 52 or 46 (0)703 24 31 90 
E-mail: peter.welin@inwido.com

About Inwido
Inwido is Europe’s largest supplier of windows and doors. The company has operations in Denmark, Finland, Norway, Sweden, Austria, Estionia, Ireland, Lithuania, Poland and the UK, as well as exports to a large number of other countries. The Group markets some 20 strong local brands including Elitfönster, SnickarPer, Hajom, Hemmafönster, Outline, Tiivi, Pihla, Diplomat and Sokolka. Inwido has approximately 3,400 employees and generated sales of slightly more than SEK 5.2 billion in 2015. The Group's headquarters are located in Malmö, Sweden. For further information, please visit www.inwido.com

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Inwido is Europe’s largest manufacturer of windows and doors. The company operates in Denmark, Finland, Norway, Sweden, Austria, Estonia, Germany, Ireland, Lithuania, Poland and the UK and also exports products to other countries. Inwido had in 2015 an annual turnover of over SEK 5.2 billion and has 3400 employees. The Inwido headquarter is located in Malmö, Sweden. Inwido reaches the customer with strong local brands, focused on both the consumer and industrial markets. That way they reach a broad market of windows and doors. In 2015, sales to the consumer market were about 70 percent of total sales, while sales to the industrial market accounted for about 30 percent. The consumer market was dominated by housing projects like renovating, re-building and extending current houses. Projects often motivated by public subsidiaries. The industrial customers are mainly bigger construction company´s and house manufacturer were the business is conducted by frameworks agreements and bigger volumes. Friday September 26, 2014 Inwido was listed as a mid-cap company at NASDAQ Stockholm.

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