Atle Industri is selling its wholly owned subsidiary Pressmaster to Albin Invest for SEK 45m. The deal will result in an exit gain for Atle Industri of SEK 21m.
Pressmaster, which manufactures and markets precision tools for crimping and cable termination, had sales of SEK 79m in 2005 and posted an operating profit (EBITA) of SEK 5m.
The company belongs to Atle Industri which is owned jointly (50/50) by Ratos and 3i. Atle Industri's mission is to develop its holdings and then find new owners for them when the time is right. For Ratos, the sale of Pressmaster will result in an exit loss of SEK 4m.
- Atle Industri's CEO, Hans Åke Norås, comments: "During Atle Industri's 10 year ownership, Pressmaster has developed well - largely due to excellent efforts by the company's management. I am convinced that this trend can continue together with Albin Invest as a new long term owner."
Albin Invest is a privately owned investment company based in Gothenburg. The company has ownership stakes in unlisted companies within industrial manufacturing and telecommunications.
For further information, please contact:
Hans Åke Norås, CEO Atle Industri, +46 703 280 280
Thomas Mossberg, Executive Vice President Ratos, +46 8 700 17 44
Anna-Karin Celsing, Head of Corporate Communications Ratos, +46 703 99 62 39