Ratos' associated company Alimak Hek has acquired the manufacturing business from Champion Elevators, the US-based manufacturer of rack and pinion construction hoists and industrial lifts, for a purchase price corresponding to SEK 185m. The acquisition strengthens Alimak Hek's position in the US, particularly in the area of after sales services.
Champion Elevators' customers are in the construction industry and a range of industrial segments, including offshore, refineries and power generation. In 2005 the acquired business generated approximately SEK 150m in sales, with 70 employees.
"The acquisition of Champion strengthens our positions both globally and in the US market in our core business," says Petter Arvidson, President and CEO of Alimak Hek. "Of particular interest for our American customers is the expanded after sales services we will now be able to offer."
The asset deal includes acquisition of the Champion facilities with assets, inventory, product designs and trademarks, as well as the staff related to the manufacturing and after sales businesses. Following the acquisition, Alimak Hek has manufacturing units in the US, Sweden and the Netherlands.
The acquisition of Champion Elevators is expected to make a favourable contribution to the Alimak Hek Group's pretax profit already this year.
Alimak Hek is a global, leading manufacturer of construction hoists, industrial lifts and platforms for temporary and permanent installations. Group revenues reached approximately SEK 1.1bn in 2005. Ratos has a 50% ownership interest in Alimak Hek.
For additional information, please contact
Petter Arvidson, CEO Alimak Hek, +46 07 590 59 31
Leif Johansson, Senior Investment Manager Ratos, +46 70 520 40 25
Anna-Karin Celsing, Head of Corporate Communications Ratos, +46 70 399 62 39