Ratos's subsidiary Inwido has acquired all the shares in the Danish window company KPK via its 60%-owned subsidiary Inwido Denmark.
KPK, which was founded by Karl-Peter Korsgaard in 1976, manufactures primarily wood and wood/aluminium windows and doors for the Danish housing market. The customer base mainly comprises small construction firms and builders. Production is carried out at two factories in Denmark and the company has approximately 240 employees. Sales in 2006 amounted to approximately SEK 379m and operating profit (EBITA) was approximately SEK 100m.
- The Inwido Group's CEO Sven-Gunnar Schough says: "We have enjoyed fruitful co-operation with KPK for a number of years through our subsidiary Storke Vinduer. KPK has seen fantastic development in recent years and today's acquisition means that we are further strengthening our already strong position in Denmark."
Inwido, which is the Nordic region's leading window and door manufacturer, has had strong organic and acquisition driven growth in recent years. In 2005-2007 the company has made some 30 acquisitions, including three in Denmark (Storke Vinduer, Outline and Frovin). Sales for the entire Inwido Group in 2006 totalled SEK 3.3 billion of which sales in Denmark accounted for over SEK 500m. The group's operating profit (EBITA) in 2006 was SEK 390m. Following the acquisition of KPK the number of employees in the group will amount to 4,250 including approximately 530 in Denmark.
Ratos, which has a 95% stake in Inwido, will not provide any additional capital in conjunction with the acquisition.
For further information, please contact:
Leif Johansson, Investment Director Ratos, +46 8 700 17 00
Sven-Gunnar Schough, CEO Inwido, +46 706 02 34 78
Clara Bolinder-Lundberg, Head of Corporate Communications Ratos, +46 8 700 17 63