This information is disclosed pursuant to the Swedish Securities Market Act, the Swedish Financial Instruments Trading Act of requirements stipulated in the listing agreement.
Ratos has signed an agreement to acquire approximately 80% of the shares in Oase Outdoors, a Danish family-owned company that supplies high-quality camping and outdoor equipment. The purchase price (enterprise value) for 100% of the company amounts to approximately DKK 380m, of which Ratos will provide approximately DKK 150m in equity.
Oase Outdoors designs, produces and supplies innovative camping and outdoor equipment under three strong brands, namely Outwell®, Easy Camp® and Robens®. The product range mainly comprises tents, camping furniture, sleeping bags and other outdoor equipment. The three independent brands clearly cater to different target groups - families and experienced adventurers, for example - who have different requirements in terms of quality and price, and who want to enjoy the outdoors with high-quality equipment. Resellers distribute the products globally to more than 40 markets. The camping equipment and outdoor products market is attractive, stable and growing with many interesting underlying growth trends. Product innovation and new material technologies as well as consumers' growing desire for close-to-nature experiences and outdoor recreation are a few of the trends fueling demand for high-quality and user-friendly equipment.
Founded in 1984, Oase Outdoors is today owned and run by the Arens family. Company headquarter is located in Give, Denmark. Ratos will invest in partnership with Henrik Arens, the company's Managing Director and largest owner who will continue as Managing Director. Henrik and key management personnel will together own around 20%. The company has approximately 70 employees. As per the most recent financial year of October 2014/2015, company sales amounted to DKK 266m and adjusted EBITA to DKK 36m.
"Oase Outdoors has a strong consumer-driven corporate culture that focuses on innovation and quality, which has generated positive sales growth in recent years and secured a sound market position in Europe. In partnership with Henrik and the rest of the Oase Outdoors team, we see far-reaching opportunities to continue to develop the organisation when it comes to geographic expansion and continued product development. From our perspective, this is an extremely interesting investment opportunity for Ratos when we pair their expertise with our background in similar investments and growth ventures," says Robin Molvin, Investment Director Ratos.
"We have been looking for a partner that has the relevant expertise and experience as well as the financial resources to enable Oase Outdoors to grow even more and realise its full potential. We recognise that Ratos is an established and responsible investor - we believe that their experience of active ownership, successful investments in our sector and their strong value foundation will benefit us as we continue to grow and develop," says Henrik Arens, MD of Oase Outdoors.
Ratos is acquiring approximately 80% of Oase Outdoors. The purchase price (enterprise value) for 100% amounts to approximately DKK 380m. Based on estimated net debt on completion of the deal, Ratos is expected to provide equity of about DKK 150m for an ownership of approximately 80%. The acquisition is subject to approval by the relevant authorities and is expected to be completed in the third quarter.
For further information, please contact:
Elin Ljung, Head of Corporate Communications, +46 8 700 17 20
Financial calendar from Ratos:
| Interim report January-June 2016 | 19 August 2016 |
| Interim report January-September 2016 | 10 November 2016 |
Ratos is an investment company that owns and develops unlisted medium-sized Nordic companies. Our goal as an active owner is to contribute to the long-term and sustainable business development in the companies we invest in and to make value-generating transactions. Ratos's portfolio consists of 19 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.
