Ratos: Atle Industri to sell Envac
Envac belongs to the industrial holding company Atle Industri which is owned jointly by Ratos and 3i (50/50). Atle Industri's key task is to develop the companies in the group and then find new owners for them at an appropriate time. Following today's sale of Envac, eight companies remain in Atle Industri six of which are wholly owned. The largest companies in the group in terms of sales are Moving (materials handling systems), Tempcold (cooling components), Jens S Transmissioner (mechanical transmission components), Elpress (electrical connectors) and Nordhydraulic (hydraulic valves).
Atle Industri's CEO Hans Åke Norås: "We have noted a sharp rise in interest in our companies. My explanation for this is the fact that we now have a number of very well-managed companies in our portfolio, combined with considerable general interest in corporate deals."
Stena Adactum, which is part of the Stena sphere, acquires and develops companies with good growth potential. Envac, which has more than doubled its sales and earnings over the last five years, is a highly suitable candidate for the group's investment strategy.
Ratos CEO Arne Karlsson comments on today's deal: "Envac is a well-managed and profitable company in an exciting sector which will now be given an opportunity for further development with a new, serious owner. For Ratos, our four-year holding in Envac was a highly successful business."
In conjunction with the transfer, Ratos and 3i will receive a dividend from Envac totalling SEK 30 million after which Stena Adactum will pay SEK 560 million for the company. The deal is subject to approval from the competition authorities.
For further information, please contact
Arne Karlsson, CEO Ratos, +46 8 700 17 00
Hans Åke Norås, CEO Atle Industri, +46 703 280 280
Anna-Karin Celsing, Head of Corporate Communications Ratos, +46 70 399 62 39
Financial calendar from Ratos:
Interim report January-March 2005 12 May 2005
Interim report January-June 2005 24 August 2005
Interim report January-September 2005 11 November 2005
The press release can be downloaded from the following link: