Ratos is to acquire 66% of the Danish company AH Industries which
supplies components and services to customers in the wind power,
marine and offshore industries. The seller is the company's founder,
Arne Hougaard and his daughter Liselotte Hougaard Beck. They will
remain as owners of 26% of the company. Ratos investment is expected
to amount to SEK 296m.
Ratos CEO Arne Karlsson: "AH Industries has shown fantastic
development in recent years. Our assessment is that this trend will
continue as a result, among other things, of the good prospects for
the wind power industry. We believe that this industry will see
consolidation where AH Industries will be well placed to play an
active role."
AH Industries originated in AH Bolte which was founded in the
mid-1980s. Today, AH Bolte is one of Europe's biggest suppliers of
flanges to the wind turbine industry. Hokodan, AH Bolte's sister
company, supplies large machined metal components to the wind
turbine, marine and offshore industries. The group has approximately
180 employees at its plants in Kolding and Horsens on Jutland."I see major advantages in Ratos becoming a part owner of the group,"
says AH Industries' founder Arne Hougaard. "Ratos's financial
strength and experience of change processes in companies, combined
with the high expertise of AH Industries' management, will give the
group new opportunities for development. I am therefore convinced
that the change of ownership will benefit both our customers and our
employees."
In 2006/07 AH Industries' pro forma sales totalled approximately SEK
470m (320) with an operating profit (EBITA) before extraordinary
costs of approx. SEK 91m (50). For 2007 EBITA before extraordinary
costs is expected to amount to approximately SEK 115m. The global
wind power industry has seen annual growth of almost 20% over the
past five years. Growth in 2006, which was a record year for the
industry, amounted to 30%. A total of 15 GW was added on a global
basis in the form of new capacity, of which Europe accounted for over
half. Industry analysts expect the high rate of investment in new
wind mills to continue in the years ahead."We have been making active efforts to increase our involvement in
Denmark for some time. This is why it is particularly pleasing that
together with our Danish Advisory Board, with Peter Leschly as
chairman, we have succeeded in creating a good project flow that has
now resulted in today's deal," says Arne Karlsson.
Ratos is acquiring AH Industries to an Enterprise Value of SEK 885m.
Ratos acquire 66% of AH Industries, which is financed with SEK 296m
of 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, +46 703 79 79 79
Clara Bolinder-Lundberg, Head of Corporate Communications Ratos, +46
707 19 84 43
Steffen Busk Jespersen, CEO AH Industries, +45 75 57 73 13
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, Camfil, DIAB, GS-Hydro, Haendig,
Haglöfs, HL Display, HÅG/RH/RBM, Hägglunds Drives, Inwido, Jøtul,
Lindab, MCC, Medifiq Healthcare, Superfos and Other holdings.
