Ratos is to acquire 60% of the heating and air conditionings systems
(HVAC) company Mobile Climate Control (MCC) from its founder Gunnar
Mannerheim. MCC offers complete climate control systems for all types
of vehicles including buses and construction vehicles and is expected
to post sales of approximately SEK 650m current financial year.
Ratos's investment amounts to approximately SEK 300m.
MCC, which was founded by Gunnar Mannerheim in 1975 and has its head
office in Norrtälje, Sweden, offers complete climate comfort systems
for buses, off road and specialty vehicles. Approximately 60% of the
company's sales take place in North America and the remainder in
Europe. Major production plants are located in Toronto, Canada, and
in Norrköping and Norrtälje, Sweden. MCC's sales are expected to
exceed SEK 650m (560) during the current split financial year and
profit (EBITA) is expected to be approximately SEK 120m (80). The
company has some 500 employees, including 360 in North America.
- Gunnar Mannerheim says: "By having Ratos as a part-owner MCC
will receive both the financial resources and owner competence needed
for further development. I look forward to developing the company
together with Ratos."
MCC develops, manufactures and sells systems for installation in
vehicles with short production series and a high degree of
customisation. This makes the company a partner with the vehicle
manufacturer in the design and development of the complete climate
comfort system for a vehicle. Approximately half of sales are to bus
manufacturers while the remaining 50% goes to on and off-road, and
specialty vehicles.
- Ratos CEO, Arne Karlsson, comments: "MCC is a well-positioned
and successful niche company with good growth prospects. The global
vehicle production within MCC's segment is rising while climate
comfort systems are increasingly becoming a requirement from the end
customer. I am glad that Ratos has gained this opportunity to exploit
this growth potential together with the company's founder."
The company's senior executives will remain in their present
positions. The company's founder and CEO, Gunnar Mannerheim, intends
to reinvest some of the purchase price in the acquisition company
through which Ratos will acquire MCC and will subsequently own 40% of
the company.
Ratos's acquisition is among others subject to approval from the
appropriate authorities.
For additional information, please contact:
Arne Karlsson, CEO Ratos, +46 8 700 17 00
Anna-Karin Celsing, Head of Corporate Communications Ratos, +46 703
99 62 39
Financial calendar from Ratos:
Annual General
Meeting 11 April
2007
Interim report
January-March 9 May 2007
Interim report
January-June 21 August
2007
Interim report January-September
9 November 2007
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 equity of Ratos's
investments is approximately SEK 11 billion. Ratos's holdings include
Anticimex, Arcus Gruppen, Bisnode, Bluegarden, Camfil, DIAB,
GS-Hydro, Haendig, Haglöfs, HL Display, Hägglunds Drives, Inwido,
Jøtul, Lindab, Medifiq Healthcare, RH/RBM, Superfos and Other
holdings.
