3i and Euroventures Acquire Car-O-Liner

3i and Euroventures Acquire Car-O-Liner · 3i Group plc and Euroventures, with respective funds, are buying out Car-O-Liner and Josam from Zeteco. · A concerted initiative to advance the new unit through organic growth and restructuring deals. · Annual revenues of approximately SEK 400 m with high profitability. Together, 3i and Euroventures have formed a new corporation that has signed an agreement to acquire 100% of Car-O-Liner and Josam. These two companies were previously part of Zeteco's Alignment Systems business area; Zeteco is a subsidiary of Finnish engineering group Partek. Car-O-Liner manufactures systems for measuring and repairing crash-damaged cars. It is headquartered in Kungsör, near Stockholm, Sweden, where it also undertakes manufacturing. Car-O-Liner has subsidiaries in the US, UK and France. Other sales are made through distributors in nearly 50 countries worldwide. Car-O- Liner has staff of some 200; the group generated revenues of SEK 260 m in 2000. Josam manufactures and sells patented, tried-and-tested products for repairing damaged trucks, which are manufactured in-house. Josam has its head offices in Örebro, central Sweden, and a staff of 23. Josam has subsidiaries in the Netherlands, Belgium, Spain, Poland and Brazil, as well as a network of agents in 30 countries. In 2000, the group generated revenues of some SEK 100 m. Euroventures, through the Baltic Rim Fund and the Sixth AP (National Pension Insurance) Fund, and 3i, (through 3i Group plc, 3i Europartners IIIA LP & 3i Europartners IIIB LP) intend to each own 50% of the jointly owned enterprise. The transaction is subject to the approval of the relevant competition authorities. Hans Werner, Investment Director of 3i Nordic plc (UK) Swedish branch, adviser to 3i Group plc: "Car-O-Liner and Josam are in a highly expansive phase, and already one of Europe's biggest players in their sectors. The two corporations offer of a unique concept, secure market position and market's best products in their segments." Jens Hansson, Investment Manager of Euroventures Management AB, adviser to the Baltic Rim Fund and Sixth AP Fund: "This transaction gives Car-O-Liner and Josam a very secure foundation to resolutely enhance their concept and products from. The collaboration between Euroventures and 3i will mean the corporation gaining industrially oriented and financially secure owners." For more information, please contact: Hans Werner, 3i Nordic plc (UK) Swedish branch, adviser to 3i Group plc: +46 (0)8 506 10183, +46 (0)70 536 6453 Jens Hansson, Euroventures Management AB, adviser to the Baltic Rim Fund and Sixth AP Fund: +46 (0)8 545 13144, +46 (0)70 889 9190 Björn Ramberg Chief Executive of Car-O-Liner AB: +46 (0)227 41200, +46 (0)70 536 6274 About 3i Group plc 3i brings capital, knowledge and connections to the creation and development of businesses around the world. It invests in a wide range of opportunities from start-ups to buy-outs and buy-ins, focusing on businesses with high growth potential and strong management. 3i invests in businesses across three continents through local investment teams in Europe, Asia Pacific and the USA. To date, 3i has invested over £13.5 billion (including co-investment funds). In the 12 months to 31st March 2001, an average of £7.8 million (including co-investment funds) was invested each working day. About Euroventures Founded in 1985, Euroventures is one of Sweden's longest-established and most experienced venture capital investors, and has made more than 40 investments since inception. With a capital base of over SEK 1 bn, Euroventures focuses on expansion capital investments and acquisitions of unlisted small and medium-sized Nordic enterprises with good future prospects. Its investments feature highly active ownership, with Euroventures' in-depth industrial know- how in goods and services comprising the foundation for success. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2001/10/02/20011002BIT00110/bit0003.doc http://www.waymaker.net/bitonline/2001/10/02/20011002BIT00110/bit0003.pdf