Atle acquires Bierregaard

Atle Tjänste & Handel acquires Bierregaard Atle acquires Bierregaard, a wholesale company in the heating and plumbing supply sector, with reported sales of SEK 102M The acquisition is a stage in Atle Tjänste & Handel's investment in technology-oriented trading companies with sound application know-how Bierregaard, which was previously included in Beijer Alma AB, is a wholesale company in the heating and plumbing supply sector that concentrates on products intended for fastening, connecting and sealing pipes. The company focuses on pipe contractors and carries the whole product range in the heating and plumbing supplies segment. Bierregard's head office is located in Malmö and a nationwide operation is created via branch offices and collect stores in strategically important regions. Bierregaard, which will be included in Business Sector Atle Tjänste & Handel, reported 1998 sales of SEK 102M, generated earnings of SEK 3.8M and has 39 employees. Stig Karlsson, President of Atle Tjänste & Handel: "Through the acquisition of Bierregaard a well-run company with fine old traditions is added to the Business Sector. Bierregaard is a very stable company that reports sound earnings generation even at the current low activity in the building sector. We consider Bierregaard's growth opportunities to be very good, especially as the company has developed a specific strategy in which customer relations are based on personal sales and local distribution." Atle Tjänste & Handel includes three companies with a similar way of working: Näsströms System which operates in hydraulics, AKA Tempcold which is involved with refrigeration and Bierregaard which is active in the heating and plumbing supplies segment. A characteristic of the companies is that they combine the role of cost-efficient distributor with the task of providing the customer with technical know-how. Following the acquisition, Atle Tjänste & Handel's annual sales rise to more than SEK 2.4 billion. ATLE AB (Publ) P.O. BOX 7308 S-103 90 STOCKHOLM SWEDEN VISITORS: REGERINGSGATAN 48 TELEPHONE +46-8-506 101 00 TELEFAX +46-8-506 101 10 REGISTERED OFFICE: 556454-8799 2 (2) Stockholm, 12 May 1999 Atle AB (publ) For further information, please contact: Stig Karlsson, President of Atle Tjänste & Handel, tel +46 70-641 13 45 Bo Cnattingius, President of Bierregaard, tel +46 40-664 24 81 Atle AB Atle is an investment company which invests in and develops small and medium- size companies which are generally unlisted. Atle's core expertise is business development which includes the ability to find interesting companies, create acquisition situations and through active and responsible ownership to develop and after a period of time to find new suitable habitats for owned companies. Normally, acquisitions are made in some form of decisive development phase in connection with the company wishing to expand, a structural transaction would be optimal for its continued development, etc. As the acquired companies are generally not listed and the Group always takes an active part in their development, Atle differs from traditional investment companies. In connection with Atle entering as an owner, plans are made for when Atle's work will be completed and the Group will sell its holding in the company. This normally takes place within three to seven years. Atle, which was introduced on the stockmarket in 1993, reported sales of SEK 9.6 billion in 1998 and has just under 8,000 employees. Since the stockmarket introduction, the number of shareholders has increased to 15,000. Operations are carried out in the six business sectors: Atle Karolin Verkstadsindustri, Atle Tjänste & Handel, Atle Miljöteknik, Atle Informationsteknogi, Atle Mergers & Acquisitions and Atle Företagskapital. Atle Tjänste & Handel Atle Tjänste & Handel is a business sector for Atle's investments in service and trading companies. The Business Sector strives for investments in companies with sound growth opportunities or structuring potential. The business concept in each company will be based of a unique concept or a significant market share. Following the acquisition of Bierregaard, the Business Sector has sales of SEK 2.4 billion. ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/05/12/19990512BIT00050/bit0001.doc http://www.bit.se/bitonline/1999/05/12/19990512BIT00050/bit0002.pdf