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Share 2016-09-30 17:29 RATOS B 40.74 SEK

Acquisition in Norway

2003-12-22

Ratos is acquiring ErgoBluegarden A/S from Norway Post. ErgoBluegarden, with 2002 sales of NOK 340 million, is one of the five largest players in human resources management in the Nordic region.
Ratos is acquiring 100% of ErgoBluegarden together with members of the company's management team. The total acquisition price ("Enterprise Value") amounts to NOK 340m and will initially be paid in cash. Upon completion of the pending refinancing in January-February, Ratos's equity investment will amount to approximately SEK 250m.
 
"This is a company and industry that suit Ratos well," says Ratos's CEO Arne Karlsson. The current industry structure will offer several attractive structural deals. At the same time, ErgoBluegarden's management has created a profitable and well-run operation that generates good profits and stable cash flows."
 
ErgoBluegarden with approximately 300 employees has offices in seven locations in Norway and one office in Denmark. Operations focus on standardised payroll processing systems, IT services for other HRM functions, IT-supported outsourcing of HRM departments and consulting services. In 2002, the group's sales totalled NOK 340m with a pre-tax profit of NOK 35m.
 
For further information, please contact
Arne Karlsson, CEO, Ratos, +46 8 700 17 00
Anna-Karin Celsing, Head of Corporate Communications, Ratos,
+46 8 700 17 49, +46 70-399 62 39