Ratos acquires Speed Group
(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 has signed an agreement to acquire approximately 70% of the shares in
Speed Group, a fast growing Swedish supplier of logistics services. The purchase
price (enterprise value) for 100% of the company amounts to approximately SEK
450m, of which Ratos will provide equity of about SEK 300m.
Speed Group is a supplier of logistics services that extend from staffing to
full-scale warehouse management and certain supplementary services in
production, recruitment and education. The Group currently has about 900
employees with operations located in south-west Sweden and its head office in
Borås. The company was established in 2004 and is currently owned by its
founders Jarl Ternander and Daniel Johansson as well as Jesper Andersson and CEO
Catrin Wirfalk who, together with their employees, have successfully developed
the business into one of Sweden's leading companies in its market segment. The
current owners will remain at the company with an ownership share of
approximately 30% and will maintain an active role in the company's development.
Demand for efficient logistics services is steadily increasing in pace with the
growth in e-commerce, escalating outsourcing, the centralisation of warehouses
in strategic locations and the rising complexity of logistics systems. This,
combined with an expanding staffing market that requires flexible solutions
consisting of specialised and skilled personnel, provides Speed Group with a
strong position in an attractive market niche. Over the past five years, Speed
Group has posted average organic growth of approximately 30% per annum with good
profitability, and has been named a gazelle company by the Swedish business
daily DI for the past two years. In 2014, sales totalled SEK 412m with an
operating profit (EBITA) of SEK 54m.
Ratos's CEO, Susanna Campbell, comments: "Speed Group is a fast growing,
profitable company with an exciting business model through which the combination
of logistics services and specialist staffing operations enables a competitive
offering based on the changing needs of customers. This offers good
opportunities for a continued positive development. Through combining the
industry expertise of the founders with our background of supporting companies
in growth phases and developing organisations in a market segment with
underlying structural growth, we are able to recognise substantial opportunities
for the company, thus making it an exciting investment opportunity for Ratos."
Speed Group's CEO Catrin Wirfalk comments: "We are delighted to have found a
strong Swedish partner in Ratos with its 150-year industrial background.
Together with Speed Group's founders, I am convinced that the choice of Ratos
will bring networks, expertise and a long-term approach to our business that are
consistent with our fundamental values. Together, we are strengthening our
capabilities for continued growth and our objective of meeting our customers'
growing needs for flexible and efficient solutions."
Ratos is acquiring approximately 70% of Speed Group. The purchase price
(enterprise value) for 100% amounts to approximately SEK 450m. Based on
estimated net debt on completion of the deal, Ratos is expected to provide
equity of approximately SEK 300m. The size of Ratos's investment will be
affected by cash flow until completion of the acquisition. The acquisition is
subject to approval by the relevant authorities and is expected to be completed
in the third quarter.
For further information, please contact:
Susanna Campbell, CEO, +46 8 700 17 00
Elin Ljung, Head of Corporate Communications +46 8 700 17 20
Financial calendar from Ratos:
Interim report January-June 2015 14 August 2015
Interim report January-September 2015 6 November 2015
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 unlisted medium sized Nordic
companies. Ratos's holdings include AH Industries, Aibel, Arcus-Gruppen, Biolin
Scientific, Bisnode, DIAB, Euromaint, GS-Hydro, Hafa Bathroom Group, HENT, HL
Display, Inwido, Jøtul, KVD, Ledil, Mobile Climate Control, Nebula and Nordic
Cinema Group. Ratos is listed on Nasdaq Stockholm and market capitalisation
amounts to approximately SEK 20 billion.
Press release (PDF):
http://hugin.info/1180/R/1931389/694538.pdf
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other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Ratos via GlobeNewswire
[HUG#1931389]
Unternehmensinformation / Kurzprofil:
Datum: 25.06.2015 - 08:31 Uhr
Sprache: Deutsch
News-ID 402900
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Kategorie:
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"Ratos acquires Speed Group"
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