EuroMaint's subsidiary EuroMaint Industry has signed an agreement to acquire all of the shares in EISAB Energi och Industriservice AB, in Vänersborg, for an Enterprise Value of SEK 24.5m. Ratos, which owns 100% of EuroMaint, will be injecting a corresponding amount of equity in connection with the deal.
EISAB performs installations, repairs, service and maintenance of waste combustion facilities and combined heat and power plants. The company has 35 employees, and its main market is Sweden. EISAB had sales of approximately SEK 129m during the 2008/2009 non-calendar financial year, reporting EBITA of SEK 7m.
EuroMaint Industry works in the growing market for industrial maintenance. The company offers qualified services for operating reliability and production optimisation as well as automated production equipment and component servicing. EuroMaint Industry has 300 employees and had sales of approximately SEK 360m in 2008.
"This is a strategic and important add-on acquisition for EuroMaint Industry. EISAB is a well-positioned and profitable company in the growing market for power and energy," says Ratos CEO Arne Karlsson, commenting on today's deal.
Ratos acquired EuroMaint in 2007, one of Sweden's leading providers of qualified maintenance services to the rail transport sector and engineering industry. Operations are conducted by the two subsidiaries EuroMaint Rail (84% of sales) and EuroMaint Industry (16% of sales).
Ratos's ownership stake in EuroMaint is 100%.
For further information, please contact:
Arne Karlsson, President and CEO Ratos, +46 8 700 17 00
Ole Kjörrefjord, President and CEO EuroMaint, +46 70 762 52 00
Clara Bolinder-Lundberg, Head of Corporate Communications Ratos, +46 8 700 17 63