Atle enters Proline AB as a partner
Atle enters Proline AB as a partner * Atle acquires 30% of Proline AB of Gävle, Sweden * Proline has a unique method for repairing housing pipe-work, creating huge market potential Proline AB, with its subsidiary Svensk Rörinfodring AB, has patented a method for constructing pipelines within existing housing sewage pipe-work and ventilation ducts. From a production perspective, this method is faster and cheaper than conventional equivalents, by which pipe-work is swapped out entirely. During the production time, which is far shorter than in traditional changeovers, no costly tenant relocation is necessary. The company has doubled its sales every year since incorporation and is now considering an international expansion, primarily in Germany. During the financial year 1999/2000, sales will be approximately SEK 12 m, with earnings of around SEK 1.5 m. The company has 15 employees. "The Proline method is still relatively unrecognised on the market," admitted Sten Edström, Proline's Chief Executive and founder, "but with Atle's entry as owner, strong prospects for an aggressive approach to the market have been put in place. Our objective is that within a five-year period, Proline will become an established alternative to other methods for repairing sewage pipes." Jim Jonsson, Atle Tjänste & Handel's Investment Manager, noted that: "Proline is an exciting and innovative enterprise, with from an environmental perspective, a very timely focus- more than 15 million metres of housing pipe-work constructed in the 1960s needs to be replaced because of corrosion and cracks." ATLE AB (Publ) P.O. BOX 7308 S-103 90 STOCKHOLM SWEDEN VISITING ADDRESS: REGERINGSGATAN 48 TELEPHONE +46 (0)8 506 10100 TELEFAX +46 (0)8 506 10110 CORPORATE IDENTITY NO.: 556454-8799 1 (2) Stockholm, Sweden, 31 March 2000 Atle AB (publ) For more information, please contact: Sten Edström, Proline's Chief Executive, tel. +46(0)26 51 53 86 Jim Jonsson, Investment Manager, Atle Tjänste & Handel AB, tel +46 (0)8 506 10140 Atle- key facts Atle is a growth company that intends to be 2-3 times its current size in 5 years' time. Atle is a private equity player, investing in unlisted companies, participating actively in their development, and after a few years, finding them a suitable new home- through an exit- thereby realising value growth. Since 1993, the Atle group's earnings have risen progressively, from SEK 373 m to SEK 1,025 m in 1999. Atle maintains a high transaction tempo, acquiring over 20 enterprises across all sectors each year. Since inception in 1992, Atle has invested in approximately 200 businesses and exited from over 100. Its annual return from these exits has exceeded 50%. 43 of its holdings (26% of invested capital) are in IT and other technology enterprises. Atle is quoted on the Stockholm Stock Exchange's A-list and has approximately 14,000 shareholders. ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/2000/03/31/20000331BIT00370/bit0001.doc http://www.bit.se/bitonline/2000/03/31/20000331BIT00370/bit0002.pdf