Atle Industri, which is 50%-owned by Ratos, has signed an agreement to sell its wholly owned subsidiary Moving to the Austrian company Knapp AG. The purchase price amounts to approximately SEK 92m and will generate an exit gain for Atle Industri of approximately SEK 37m.
Moving develops and produces materials handling equipment and offers module-based total solutions for efficient handling of non-bulk goods through its specialist expertise in applications, systems and products. Sales in 2007 totalled SEK 293m and EBITDA was approximately SEK 15m.
"In business terms this is an optimal deal since the two companies' operations complement each other extremely well," says Hans Åke Norås, CEO of Atle Industri.
The sale will generate an exit gain for Atle Industri of SEK 37m. For Ratos, the sale will result in an exit gain of approximately SEK 8m.
Moving is part of Atle Industri, a company jointly owned by Ratos and 3i (50/50), which develops its holdings and then finds new owners for them when the time is right.
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
Clara Bolinder-Lundberg, Head of Corporate Communications, Ratos, +46 8 700 17 63