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

Ratos increases its holding in MCC to 100%

2008-11-25

Ratos has concluded an agreement to acquire all Gunnar Mannerheim's shares in MCC. As a result of this deal, Ratos will increase its holding in MCC from 60% to 100%. The purchase price for the shares amounts to SEK [210m].  
 
In April 2007, Ratos acquired 60% of the shares in MCC from the company's founder Gunnar Mannerheim. MCC is a niche supplier of customised climate systems with high performance and quality for vehicles produced in short series. Approximately 70% of sales take place in North America and the remainder in Europe. The head office is in Stockholm and production is carried out in Canada, the US, Sweden and Poland. Clas Gunneberg has been the company's CEO since November 2007.
 
MCC has enjoyed good growth in recent years and 2007 sales totalled SEK 698m with an operating profit (EBITA) of SEK 118m. A strategic acquisition was carried out in September 2008 in the form of a net asset deal when operations were acquired from the American company ACME Radiator and Air Conditioning, which made a positive contribution to earnings from 2008.
 
"It is gratifying that we now have the opportunity to increase our ownership in MCC which in our opinion has good opportunities for continued long-term growth. Add-on investments in existing holdings that we know well are among the best investments we can make," says Ratos CEO Arne Karlsson.
 
After this deal, Ratos's holding in MCC will amount to 100%.
 
For further information, please contact:
Arne Karlsson, CEO Ratos, +46 8 700 17 00
Clara Bolinder-Lundberg, Head of Corporate Communications Ratos, +46 8 700 17 63