Atle Industri is selling its wholly owned subsidiary Tempcold to the trading company Ahlsell for SEK 105 million. The deal will generate an exit gain for Atle Industri of SEK 22 million (according to IFRS).
Tempcold, which markets a comprehensive range of cooling components, had sales of SEK 336m in 2005 and posted an adjusted operating profit of just over SEK 9m. The company performed well in the first quarter and earnings for 2006 are expected to be considerably higher than in the previous year.
The company is part of Atle Industri, which is jointly owned by Ratos and 3i (50/50). Atle Industri's mission is to develop owned companies and then find new owners for them when the time is right. Following the sale, Atle Industri will have five wholly owned and one partly owned (38%) companies.
Atle Industri's CEO, Hans Åke Norås, comments: "At Ahlsell, Tempcold will become part of a large and well-established Nordic trading company. Ahlsell's distribution channels and logistics expertise will definitely benefit Tempcold's customers and employees who will also benefit from the synergy effects that are expected to result from this deal."
Ahlsell is one of the Nordic region's leading trading companies that offers products and peripheral services to professional users in the following segments: Heating & Plumbing, Electrical, Tools, Refrigeration and DIY (Do-It-Yourself).
The deal is subject to approval from the relevant competition authorities.
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 00
Anna-Karin Celsing, Head of Corporate Communications Ratos, +46 70 399 62 39