Atle Industri is selling its wholly owned subsidiary Elpress to the technology trading company Lagercrantz Group for SEK 98m. The deal will provide Atle Industri with an exit gain of over SEK 40m.
Elpress, which manufactures and sells crimping systems for electrical applications, had sales totalling SEK 171m in 2005 and posted an operating profit (EBITA) of SEK 14m.
The company is part of Atle Industri, which is jointly owned by Ratos and 3i (50/50). Atle Industri's mission is to develop its holdings and then find new owners for them when the time is right. The sale of Elpress will provide Ratos with an exit gain of SEK 13m.
Atle Industri's CEO, Hans Åke Norås, comments: "Elpress's products are highly suitable for Lagercrantz Group's product range strategy. I am convinced that the growth strategy that Lagercrantz Group has outlined for the company will benefit both customers and employees at Elpress."
Lagercrantz Group is a technology trading company within electrical products, electronics, communication and related areas. The group has annual sales in excess of SEK 1,600m and approximately 600 employees.
For additional information, please contact:
Hans Åke Norås, CEO Atle Industri, +46 703 280 280
Thomas Mossberg, Executive Vice President Ratos, +46 8 700 17 00
Anna-Karin Celsing, Head of Corporate Communications Ratos, +46 70 399 62 39