Ratos: Inwido sells Home Improvement business area
(Thomson Reuters ONE) -
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 Inwido has signed agreement to sell the business area Inwido
Home Improvement AB to private equity fund Priveq Investment Fund IV for a
purchase price of SEK 195m (enterprise value). The sale, which is subject to
approval from the relevant authorities, is expected to be completed during
summer 2012.
Home Improvement is a subsidiary of Inwido and sells a number of interior
products for the home for floors, walls and storage. The business area is
operated in two companies under the Lundbergs and Duri brands, both of which are
market leaders within their main product segments in Sweden. The operations have
approximately 80 employees and sales in 2011 amounted to SEK 274m with an
operating profit (EBITA) of SEK 25.8m. The operations were acquired in 2007.
Håkan Jeppsson, President and CEO of Inwido, comments: "Home Improvement has a
good position and development and has a good platform for continued Nordic
expansion within its segment. Inwido's focus is to be the leader in Europe
within windows and doors. We have therefore decided to sell this business area
since it is a retail operation with a totally different business model and
therefore offers no economies of scale with our other operations."
Inwido develops, manufactures and sells a full range of windows and exterior
doors to consumers, construction companies and prefabricated home manufacturers.
Operations are conducted in all the Nordic countries as well as in the UK,
Ireland, Poland and Russia. The company's brands include Elitfönster,
SnickarPer, Tiivi, KPK, Lyssand and Allan Brothers. Ratos's holding in Inwido
amounts to 96%.
For further information, please contact:
Susanna Campbell, CEO Ratos, +46 8 700 17 00
Håkan Jeppsson, President and CEO Inwido, +46 10 451 45 51 or +46 705 50 15 17
Emma Rheborg, Head of Corporate Communications and IR Ratos, +46 733 80 22 63
Financial calendar from Ratos:
Interim Report January - June 2012 17 August 2012
Interim Report January - September 2012 9 November 2012
Ratos is a private equity conglomerate. The company's mission is to maximise
shareholder value over time through the professional, active and responsible
exercise of its ownership role in primarily medium to large unlisted Nordic
companies. Ratos's holdings include AH Industries, Anticimex, Arcus-Gruppen,
Biolin Scientific, Bisnode, Contex, DIAB, Euromaint, Finnkino, GS-Hydro, Hafa
Bathroom Group, HL Display, Inwido, Jøtul, KVD Kvarndammen, Lindab,
Mobile Climate Control, SB Seating and Stofa. Ratos is listed on Nasdaq OMX
Stockholm and market capitalisation amounts to approximately SEK 22 billion.
Press release PDF:
http://hugin.info/1180/R/1612518/513299.pdf
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other applicable laws; and
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originality of the information contained therein.
Source: Ratos via Thomson Reuters ONE
[HUG#1612518]
Unternehmensinformation / Kurzprofil:
Datum: 16.05.2012 - 08:32 Uhr
Sprache: Deutsch
News-ID 147074
Anzahl Zeichen: 3726
contact information:
Town:
Stockholm
Kategorie:
Business News
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"Ratos: Inwido sells Home Improvement business area"
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