Opus Group AB has signed a binding agreement to sell 100% of Opus Equipment AB
(Opus Equipment) to MECA Scandinavia AB, a subsidiary of Mekonomen Group. The
sale streamlines Opus Group’s operations focusing on being a leading global
vehicle inspection company.
The operations of Opus Equipment has its roots in the equipment operations
founded in 1990 and has over the last eight years expanded through the
acquisition of four smaller businesses: the product company EWJ, the maintenance
and calibration operations of J & B Maskinteknik and Alfa Maskinteknik and the
trade operations of Opus Bima. Opus Equipment and its subsidiary, J & B
Maskinteknik are active in the development, production, sale and service of
vehicle inspection equipment for automotive workshops and vehicle inspection
companies.
Opus Equipment is a wholly owned independent subsidiary of Opus Group AB, with
sales of about SEK 135 million (2014) and EBITDA of SEK 7.7 million (2014).
Today, Opus Equipment has about 70 employees, mainly in Sweden and with some
staff in the production plant in China. The majority of the company’s sales are
in Europe but with customers in over 50 countries.
The purchase price on a debt free basis amounts to SEK 51 million and is paid in
cash. Through this transaction, Opus Equipment can continue to develop within
MECA Scandinavia while continuing to supply test equipment and services to Opus
Group. The current CEO of Opus Equipment, Jörgen Hentschel, with management,
will remain with Opus Equipment after the transaction is completed.
"Opus Equipment is a successful company in the automotive equipment industry. I
believe the business can continue to develop well within Mekonomen Group. Opus
Group is a worldwide leading vehicle inspection company with a strong focus on
customer service and innovative technology. This sale strengthens our focus on
vehicle inspection. The resulting cash will be used for the company’s continued
expansion both organically and through acquisitions", says Magnus Greko, CEO and
President of Opus Group AB.
"The transaction feels partly sentimental since we sell operations that once
were the foundation of Opus Group, which Jörgen Hentschel and I started in 1990.
However, with the vast majority of our business stemming from vehicle inspection
activities worldwide, it is a strategic decision that is good for all parties. I
would like to thank the personnel of Opus Equipment for their strong effort
during the past 25 years and I wish them best of luck under the new ownership",
continues Magnus Greko, CEO and President of Opus Group.
The sale is expected to close on July 1, 2015 and will not affect Opus Group’s
earnings significantly; however, the operating margin is expected to improve.
Mölndal, June 15, 2015
Opus Group AB (publ)
For additional information, please contact
Magnus Greko
President and CEO
Phone: 46 31 748 34 00
E-mail: magnus.greko@opus.se
Peter Stenström
Investor Relations
Phone: 46 765 25 84 93
E-mail: peter.stenstrom@opus.se
About Opus Group
Opus Group is a leading company in vehicle inspection technology and vehicle
inspection program operations. The Group has two main business areas which
consist of vehicle inspection and equipment. Opus Group is one of the market
leaders in vehicle inspection operations in the US and Sweden. Opus Bilprovning
has 74 vehicle inspection stations in Sweden. Opus Inspection operates vehicle
inspection programs in the U.S., Bermuda, Chile, Peru and Pakistan and is active
in sales and service of emission control equipment in North America and Mexico.
Through the subsidiaries, Opus Equipment and J&B Maskinteknik, Opus Group
conduct production, sales and service of vehicle inspection equipment for
vehicle inspection companies and vehicle workshops. Opus Group’s revenues
amounted to approx. SEK 1,458 million in 2014. Opus Group’s shares are listed on
Nasdaq Stockholm.
FFFS 2007:17 (10 kap 11§) (SFSA rules) - The information in this press release
is published in accordance with the rules in the law (2007:528) under the
Securities Market Act (2007:528).
