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Share 2017-08-22 17:29 RATOS B 38.50 SEK

Ratos divests Euromaint

2016-10-25

Ratos has signed an agreement to divest 100% of the shares in its subsidiary Euromaint, Sweden's leading independent maintenance company for the rail transport industry, to SSVP, a mid-market private equity fund advised by Orlando Management. Enterprise Value amounts to SEK 650m. The divestment is not estimated to generate any exit results for Ratos.
 

Ratos acquired Euromaint in 2007 in conjunction with the ongoing deregulation of the train operator market. Throughout its history, the company has focused on delivery of high-quality rail maintenance services, thereby strengthening its market position as a leading maintenance provider for Sweden's premium fleets, including Arlanda Express, X2000 and Stockholm commuter trains. The company has about 1,050 employees, with annual sales of approximately SEK 1,600m. The Euromaint German operations were divested in 2015 in order to streamline operations.

"Euromaint's ability to deliver high quality services has strengthened the company's position in the market for train maintenance. Ratos has owned Euromaint since 2007, and we believe that now is a good time for a new owner to take over," says Lars Johansson, acting CEO of Ratos.

An agreement has been signed for the sale of 100% of the shares. The divestment is not estimated to generate any exit results for Ratos, taking into consideration the earlier announced impairment of book value that will be set in the third quarter accounts. The investment has generated a negative annual average return (IRR). The transaction is expected to be completed in the fourth quarter of 2016.

For further information, please contact:
Elin Ljung, Head of Corporate Communications, Ratos, +46 8 700 17 20, elin.ljung@ratos.se
Lars Johansson, Acting CEO Ratos, +46 8 700 17 00, lars.johansson@ratos.se