Ratos: MCC makes strategic acquisition
This information is disclosed in accordance with the Securities
Markets Act, the Financial Instruments Trading Act or demands made in
the exchange rules.
Ratos's subsidiary MCC has concluded an agreement on acquisition of
operations from the US company ACME Radiator and Air Conditioning.
The acquisition will take the form of an asset deal and the purchase
price (Enterprise Value) will amount to approximately SEK 200m with a
possible earn-out payment in the same amount.
Ratos's subsidiary Mobile Climate Control (MCC) offers complete
climate comfort systems for, among other things, buses and commercial
vehicles. Approximately 70% of the company's sales take place in
North America and approximately 30% in Europe. Production plants are
located in Canada, Sweden, Germany and Poland. MCC's 2007 sales
amounted to SEK 698m and EBITA was SEK 118m. The company has
approximately 600 employees.
The American company ACME Radiator and Air Conditioning is a supplier
of heating and air conditioning systems for military and commercial
vehicles. MCC is acquiring ACME's organisation and production
facility in Goshen, Indiana, with approximately 125 employees, which
constitutes the main part of the company's operations. In the fiscal
year 2006/07 the acquired operations posted sales of approximately
SEK 410m with an operating profit of approximately SEK 105m."ACME has experienced extraordinary growth in recent years driven by
strong project volumes. We can expect more moderate volumes in the
future. For MCC, ACME is a strategic acquisition which means that we
now have access to production in the US and can build a natural
platform for continued strong growth in the US market," says MCC's
CEO Clas Gunneberg.
Ratos, with a 60% holding in MCC, will not provide any additional
capital in conjunction with the acquisition.
For further information, please contact:
Henrik Blomé, Senior Investment Manager Ratos, +46 8 700 17 00
Clas Gunneberg, CEO MCC, +46 705 93 04 82
Clara Bolinder-Lundberg, Head of Corporate Communications Ratos, +46
8 700 17 63
Financial calendar from Ratos:
Interim Report January - September 2008 7 November 2008
Year-End Report 2008 19 February 2009
Ratos is a listed private equity company. The business concept is to
maximise shareholder value over time by investing in, developing and
divesting primarily unlisted companies. Ratos offers investors a
unique investment opportunity. The equity of Ratos's investments is
approximately SEK 11 billion and a market capitalisation of
approximately SEK 28 billion. Ratos's holdings include AH Industries,
Anticimex, Arcus Gruppen, Bisnode, Camfil, Contex, DIAB, EuroMaint,
GS-Hydro, Haglöfs, HL Display, HÅG/RH/RBM, Hägglunds Drives, Inwido,
Jøtul, Lindab, MCC, Medisize, Superfos and Other holdings.