Ratos is to acquire 100% of EuroMaint from Swedcarrier. EuroMaint,
which is Sweden's leading maintenance company for trains, reported
sales of over SEK 2 billion in 2006 with an operating profit (EBITA)
of SEK 102 million. Ratos's investment will amount to approximately
SEK 440 million.
EuroMaint was formed in 2001 and has undergone major changes since
then. A number of workshops have been closed and management and
control systems developed and improved. Today the company is
profitable once again and the operating profit (EBITA) in 2006
amounted to SEK 102m (SEK 120m excluding extra ordinary items).
The company's core business - maintenance and rebuilding services for
freight and passenger trains - had sales of SEK 1.8 billion last
year. Annual growth has been between 5 and 10% during the recent
years and the group has a market leading position. The maintenance
company EuroMaint Industry was acquired from Volvo Cars in 2005.
Operations within Industry reported sales of SEK 230m in 2006.
Ratos CEO Arne Karlsson: "Under its present management EuroMaint has
succeeded in strengthening both the company's position in the Swedish
market and profitability. In our opinion there are continued
opportunities for further development."
EuroMaint Rail today has workshops in 13 localities that together
cover the entire Swedish rail network. A workshop will open later
this year in Latvia to focus on refurbishing of components. EuroMaint
Industry, which provides maintenance services to the engineering
industry, currently conducts operations in four locations in Sweden.
Pether Wallin, CEO of EuroMaint, comments: "We are looking forward to
starting a new chapter in EuroMaint's development with Ratos as
owner. Ratos has experience of strategic processes and industrial
restructuring - experience that will benefit all EuroMaint's
stakeholders."
The Enterprise Value of 100% of EuroMaint is SEK 1 200m. SEK 440m of
the investment will be financed with equity from Ratos. Senior
executives in the company will be invited to co-invest with Ratos.
Today's deal is subject to approval from the relevant authorities.
For further information, please contact:
Arne Karlsson, CEO Ratos, +46 8 700 17 43
Clara Bolinder-Lundberg, Head of Corporate Communications Ratos, +46
70 719 84 43
Pether Wallin, CEO EuroMaint, +46 8 762 52 00
Financial calendar from Ratos:
Interim report January-June 21 August
2007
Interim report January-September 9 November 2007
Year-end report 2007 21 February
2008
AGM 2008 9 April
2008
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, HÅG/RH/RBM, Hägglunds Drives,
Inwido, Jøtul, Lindab, MCC, Medifiq Healthcare, Superfos and Other
holdings.
