Ratos AB: Ratos divests Euromaint
(Thomson Reuters ONE) -
Ratos has signed an agreement to divest 100% of the shares in its subsidiary
Euromaint, Sweden's leading independent maintenance company for the rail
transport industry, to SSVP, a mid-market private equity fund advised by Orlando
Management. Enterprise Value amounts to SEK 650m. The divestment is not
estimated to generate any exit results for Ratos.
Ratos acquired Euromaint in 2007 in conjunction with the ongoing deregulation of
the train operator market. Throughout its history, the company has focused on
delivery of high-quality rail maintenance services, thereby strengthening its
market position as a leading maintenance provider for Sweden's premium fleets,
including Arlanda Express, X2000 and Stockholm commuter trains. The company has
about 1,050 employees, with annual sales of approximately SEK 1,600m. The
Euromaint German operations were divested in 2015 in order to streamline
operations.
"Euromaint's ability to deliver high quality services has strengthened the
company's position in the market for train maintenance. Ratos has owned
Euromaint since 2007, and we believe that now is a good time for a new owner to
take over," says Lars Johansson, acting CEO of Ratos.
An agreement has been signed for the sale of 100% of the shares. The divestment
is not estimated to generate any exit results for Ratos, taking into
consideration the earlier announced impairment of book value that will be set in
the third quarter accounts. The investment has generated a negative annual
average return (IRR). The transaction is expected to be completed in the fourth
quarter of 2016.
For further information, please contact:
Elin Ljung, Head of Corporate Communications, Ratos, +46 8 700 17 20,
elin.ljung(at)ratos.se
Lars Johansson, Acting CEO Ratos, +46 8 700 17 00, lars.johansson(at)ratos.se
Financial calendar from Ratos:
Interim report January-September 2016 10 November 2016
Ratos owns and develops unlisted medium-sized companies in the Nordic countries.
Our goal as an active owner is to contribute to long-term and sustainable
business development in the companies we invest in and to make value-generating
transactions. Ratos's portfolio consists of 21 medium-sized Nordic companies and
the largest segments in terms of sales are Construction, Industrials and
Consumer goods/Commerce. Ratos is listed on Nasdaq Stockholm and has a total of
approximately 16,000 employees.
Press release (pdf):
http://hugin.info/1180/R/2051110/767390.pdf
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Ratos via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 25.10.2016 - 08:31 Uhr
Sprache: Deutsch
News-ID 502511
Anzahl Zeichen: 3155
contact information:
Town:
Stockholm
Kategorie:
Business News
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"Ratos AB: Ratos divests Euromaint"
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