Ratos: GS-Hydro acquires First Hose in UK
(Thomson Reuters ONE) -
This information is disclosed pursuant to the Swedish Securities Market Act, the
Swedish Financial Instruments Trading Act or requirements stipulated in the
listing agreement.
Ratos subsidiary GS-Hydro is to acquire First Hose Ltd located in Aberdeen,
United Kingdom. First Hose provides hoses and hose related components for the
oil and gas industry in the UK North Sea and will strengthen GS-Hydro's position
as a supplier of hose management systems. The purchase price consists of an
initial payment of approximately GBP 4.5m (enterprise value) plus a maximum
additional purchase price of approximately GBP 1.5m. The initial purchase price
is financed through equity from the owners, which entails that Ratos will
initially contribute approximately GBP 4.5m (SEK 58m).
GS-Hydro is a leading global supplier of non-welded piping solutions for use in
primarily hydraulic applications with high demands on fast installation,
cleanliness and minimal operational shutdowns. The products are used in the
marine and offshore industries as well as in land-based segments such as the
pulp and paper and metals industries. First Hose was established in 1989 and it
provides its customers with offshore rig supply hoses, hydraulic hoses,
industrial hoses, instrumentation and fittings for the oil and gas after market
in the UK North Sea. In 2014, First Hose's revenue amounted to GBP 8.4m and
EBITDA to GBP 0.9m.
"GS-Hydro has a global position in non-welded piping solutions and with this
acquisition the company strengthens its market position in the UK North Sea,
builds a larger aftermarket business and continues to expand its hose business
and offering. This will open up for new cross selling and growth opportunities
in line with the company's strategy", says Susanna Campbell, CEO Ratos.
The transaction was completed on 30 October.
GS-Hydro was acquired in 2001 in conjunction with the acquisition of Atle. Since
Ratos became owner of the company, GS-Hydro's sales have trebled mainly driven
by geographical expansion, non-welded technology gaining market shares from
traditional welded technology and strong underlying market development. Today,
GS-Hydro has approximately 700 employees in 17 countries. Sales in 2014 totalled
SEK 1,350m and operating profit (EBITA) amounted to SEK 100m.
For further information, please contact:
Johan Pålsson, Senior Investment Manager, +46 8 700 17 00
Elin Ljung, Head of Corporate Communications, +46 8 700 17 20
Financial calendar from Ratos:
Interim report January-September 2015 6 November 2015
Year-end report 2015 17 February 2016
Annual General Meeting 2016 14 April 2016
Interim report January-March 2016 10 May 2016
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, Jøtul, KVD, Ledil, Mobile Climate Control, Nebula, Speed Group and TFS.
Ratos is listed on Nasdaq Stockholm and market capitalisation amounts to
approximately SEK 18 billion.
Press release (PDF):
http://hugin.info/1180/R/1963132/716251.pdf
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GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
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#1963132]
Unternehmensinformation / Kurzprofil:
Datum: 02.11.2015 - 08:45 Uhr
Sprache: Deutsch
News-ID 431017
Anzahl Zeichen: 4332
contact information:
Town:
Stockholm
Kategorie:
Business News
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"Ratos: GS-Hydro acquires First Hose in UK"
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