Ratos AB: Follow-on investments totalling SEK 310 million
All three companies affected by today's deal came into Ratos's and 3i's joint ownership in conjunction with the buy-out of Atle from the stock market almost three years ago. This joint ownership has worked well in the three companies, but Ratos and 3i have now decided to streamline the ownership structure in order to simplify the work of active ownership. Ratos, which already today is the largest owner in two of these three companies, therefore acquires 3i's shares in these companies.
"Follow-on investments in our portfolio companies are among the best investments we can make," says Ratos CEO Arne Karlsson. "We have already developed in-depth knowledge here in both the sector and the specific company. Furthermore we have already built up relationships and drawn up plans for the years ahead."
The SEK 250m follow-on investment for 3i's shares has the following breakdown for Ratos: SEK 135m for the remaining 23% in Arcorus, approximately SEK 65m for the remaining 50% in Gadelius and SEK 50m for an additional 24% in Haendig (in addition Gaia's 27% share in Haendig is acquired for SEK 58m).
For further information, please contact
Arne Karlsson, CEO Ratos, +46 8 700 17 00
Clara Bolinder-Lundberg, Investor Relations Manager Ratos, +46 8 700 17 00
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 thus offers stock market players a unique investment opportunity. The net asset value of Ratos's investments is approximately SEK 7.6 billion. Ratos's holdings include Arcorus, Atle Industri, Bluegarden, Camfil, Dahl, DIAB, Dynal Biotech, Gadelius, Haendig, Haglöfs, HL Display, Industri Kapital, Intervect, Lindab, LRT/Tornet, Martinsson, Overseas Telecom, Q-Labs and Superfos.
Arcorus focuses on advanced hydraulic systems and products. The Group includes the subsidiaries Hägglunds Drives, GS-Hydro and Lidan Marine which are leading international suppliers of complete hydraulic drive systems, hydraulic motors and piping systems. The main customer base is in the industrial, marine and offshore segments. Arcorus is represented by subsidiaries and agents in more than 40 countries.
Gadelius is a technology oriented, modern distributor of selected high-tech products for professional niche markets in Japan and Europe. Customers include the IT, medical technology, construction, packaging, food and engineering/electronics industries.
Haendig is an active owner of small and medium-sized wholesalers with a focus on the DIY market and the professional sector in the Nordic region. The Group includes the subsidiaries GDS-kunder; Duri, Hafa, HDF-Bolagen, HDF-Gyttorp Jakt, Sven Svenssons and, for trade customers; Markt & Co and Penope.
Financial calendar, Ratos:
Year-end report 2003 24 February 2004
Annual General Meeting 1 April 2004
Interim report January-March 2004 12 May 2004
Interim report January-June 2004 25 August 2004
Interim report January-September 2004 12 November 2004
The press release can be downloaded from the following link: