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Share 2019-01-22 17:29 RATOS B 26.34 SEK

Swedish expansion of airteam continues

2019-01-08

Ratos’s subsidiary airteam is continuing its expansion in Sweden through the acquisition of Creovent AB (Creovent) and Thorszelius Ventilation & Service AB (Thorszelius), leading installers of climate and ventilation solutions in the Stockholm and Uppsala regions.

airteam, a leading supplier of ventilation solutions in Denmark, is strengthening its market position in Sweden through the acquisition of Aurvandil AB, who owns the subsidiaries Creovent and Thorszelius. Together they have approximately 85 employees with offices in Stockholm and Uppsala. Pro forma sales in 2017 for both companies amounted to approximately SEK 235m and adjusted EBITA to SEK 24m. The companies offer efficient climate and ventilation solutions, including service and maintenance, to a customer base comprising property owners, construction companies and the public sector. This is airteam’s second acquisition in the Swedish market and its third bolt-on acquisition overall since Ratos became principal owner of the company in 2016.

“With the acquisition of Creovent and Thorszelius, airteam is continuing its strategic investments in Sweden, and together with the acquisition of Luftkontroll Energy in Örebro last year, airteam now has a strong market position in the expansive Mälardalen region. Creovent and Thorszelius are well-run companies with strong market positions in the Stockholm and Uppsala regions and have competent management teams, who will remain in their roles and be partners in the company moving forward. We welcome Creovent and Thorszelius to airteam and look forward with confidence to growing together in Sweden,” says Robin Molvin, Vice President of Ratos.

The acquisition is expected to be completed in the first quarter of 2019 and is being financed by airteam without any capital contribution from Ratos.

For further information, please contact:
Robin Molvin, Vice President, Ratos, +46 8 700 17 15
Helene Gustafsson, Head of IR and Press, Ratos, +46 8 700 17 98