Divestment of Aleris
Patricia Industries, a part of Investor AB, has signed an agreement to divest Aleris to Triton at an enterprise value of SEK 2.8bn. Adjusted for net debt of approximately SEK 550m and estimated transaction costs of SEK 200m this equals an equity value of SEK 2bn. Doktor24 will remain within Patricia Industries and be included in Financial Investments.
Aleris is a provider of specialty care, healthcare and diagnostics with a strong footprint across Scandinavia with high medical quality, customer satisfaction and strong offerings. Aleris serves 1.1 million patients and conducts 1 million radiological examinations annually.
“During our ownership since 2010, Aleris has developed and strengthened its offering and achieved higher customer satisfaction. However, the financial performance has not been satisfactory. As owners we always strive to do what we deem is best for our companies and our shareholders. In late 2018, Aleris divested Aleris Care to Ambea, a new good owner of the business. Now the healthcare business is divested to Triton, which we see as a good owner that will continue to develop the offering to the patients and customers. Through this transaction we will free up resources for further development of our strong platforms within Patricia Industries”, says Johan Forssell, CEO of Investor.
“As a focused healthcare company, Aleris has further developed its business, accelerated the restructuring of the Swedish operations and won new contracts. With Triton as an owner with broad industry experience, the company has a strong platform to continue to provide high-quality healthcare services with satisfied customers”, says Christian Cederholm, Co-Head, Patricia Industries.
The transaction is subject to regulatory approvals and closing is expected during the third quarter 2019.
For further information:
Viveka Hirdman-Ryrberg, Head of Corporate Communication and Sustainability,
Phone +46 70 550 3500
Magnus Dalhammar, Head of Investor Relations,
Phone +46 73 524 2130
Our press releases can be accessed at www.investorab.com
Investor, founded by the Wallenberg family in 1916, is an engaged owner of high quality global companies. We have a long-term investment perspective. Through board participation, as well as industrial experience, our network and financial strength, we work continuously to support our companies to remain or become best-in-class. Our holdings include, among others, ABB, Atlas Copco, Ericsson, Mölnlycke and SEB.