This information is disclosed in accordance with the Securities Markets Act, the
Financial Instruments Trading Act or demands made in the exchange rules.
Contex Group has signed an agreement to sell its subsidiaries Z Corporation and
Vidar Systems to the American company 3D Systems Corporation (NYSE:DDD). The
enterprise value amounts to USD 137m. In connection with completion of the
deal, a large part of the bank debt in Contex Group will be repaid, and a
dividend of the excess amount (USD 50-70m) will be paid to the owners.
Danish Contex Group is a world leader in the development and manufacture of
advanced 2D and 3D digital imaging solutions. The company has three
subsidiaries: Contex, the world's largest manufacturer of wide-format scanners;
Vidar Systems, a global leader in medical film digitisers; and Z Corporation, a
leading manufacturer of 3D printers.
In 2010 Contex Group had an operating profit (EBITA) of SEK 97m on sales of SEK
750m. Remaining in Contex Group is the subsidiary Contex A/S, the world's
largest manufacturer of large-format scanners, which generated an operating
profit (EBITA) of approximately SEK 32m on sales of approximately SEK 360m in
2010. Ratos acquired Contex Group from EQT in 2007.
Commenting on the deal, Ratos's CEO, Arne Karlsson, said: "Z Corporation is well
positioned for sustainable and profitable growth as the products are reaching an
increasingly broader area of application. As part of 3D Systems, Z Corporation
will have the best conditions to continue growing, and with its advanced
technology, the company will complement 3D Systems' other product offerings."
The enterprise value of the deal amounts to USD 137m. The sale will generate a
capital loss in Contex Group of approximately USD 8m, based on the book value as
per 30 September 2011. The final capital loss will be affected by earnings from
Z Corporation and Vidar Systems during the time up until completion of the deal.
Net proceeds from the sale will be used to repay a large part of the bank debt
in Contex Group. The excess amount (USD 50-70m) will be paid out as dividend to
the owners. Net debt in Contex Group amounted to SEK 635m as per 30 September.
Ratos's ownership in Contex Group amounts to 99%.
The completion of the sale is subject to customary conditions, including
approval of the competition authorities.
3D Systems Corporation (NYSE:DDD) is a leading provider of 3D content-to-print
solutions including 3D printers, print materials and on-demand custom parts
services for professionals and consumers alike. Through the first nine months of
2011 the company had sales of USD 161m and approximately 680 employees.
For further information, please contact:
Arne Karlsson, CEO, Ratos, +46 8 700 17 00
Emma Rheborg, Head of Corporate Communications and IR, Ratos, +46 8 700 17 20
Financial calendar from Ratos:
Year-end report 2011 16 February 2012
Annual General Meeting 2012 18 April 2012
Ratos is a private equity conglomerate. The company's mission is to maximise
shareholder value over time through the professional, active and responsible
exercise of its ownership role in primarily medium to large unlisted Nordic
companies. Ratos's holdings include AH Industries, Anticimex, Arcus-Gruppen,
Biolin Scientific, Bisnode, Contex, DIAB, Euromaint, Finnkino, GS-Hydro, Hafa
Bathroom Group, HL Display, Inwido, Jøtul, KVD Kvarndammen, Lindab, Mobile
Climate Control, SB Seating and Stofa. Ratos is listed on Nasdaq OMX Stockholm
and market capitalisation amounts to approximately SEK 23 billion.
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