This information is disclosed in accordance with the Securities Markets Act, the Financial Instruments Trading Act or demands made in the exchange rules.
Ratos's subsidiary AH Industries has signed an agreement to acquire all the shares in the Danish company RM Group. The seller is the Jørgensen family, which founded the company and will remain as owners in the merged company with a holding of 10%. The acquisition will be made at an Enterprise Value of approximately DKK 325m of which Ratos, in conjunction with the deal, will contribute equity of approximately DKK 225m.
AH Industries is a Danish leading supplier of metal components and services to the wind power, offshore and marine industries. The company is specialised in the manufacture and machining of heavy metal components with high precision requirements. Operations are conducted in four business areas: AH Flanges, AH Components, AH Projects and AH Transport. AH Industries was acquired by Ratos in 2007 and has approximately 200 employees. In 2009 the company's sales totalled DKK 367m with an operating profit (EBITA) of DKK 6m.
RM Group is a Danish subcontractor to the wind power, cement and mineral industries and operates within metal machining of large components. Most of production takes place in Ribe on Jutland (Denmark) and in Ningbo in China. RM Group has approximately 220 employees and pro forma sales in 2009 amounted to approximately DKK 488m with an operating profit (EBITA) of DKK 56m.
"The acquisition of RM Group makes us the largest supplier to the wind power industry in our product segments and also broadens our offering to include more sectors. The acquisition also provides us with a platform for expansion outside Europe, through RM Group's production facilities as well as their sales and purchasing channels," says AH Industries' CEO Steffen Busk Jespersen.
The Enterprise Value of the acquisition amounts to approximately DKK 325m of which Ratos will contribute equity of approximately DKK 225m. The seller, Ole Jørgensen and his family, also receives shares in the merged company. Ratos's holding in the new group will amount to approximately 69%. Ole Jørgensen and his family will own 10% and the founder of AH Industries, Arne Hougaard Mikkelsen 16%. Other owners are the management and board of AH Industries.
The acquisition is subject to approval from the relevant competition authorities and is expected to be completed during the third quarter.
For further information, please contact:
Arne Karlsson, CEO Ratos, +46 8 700 17 00
Steffen Busk Jespersen, CEO AH Industries, +45 7631 11 59
Emma Rheborg, Head of Corporate Communications and IR Ratos, +46 8 700 17 20