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Ratos pays itself $22.8m through KVD Kvarndammen refinancing

20 Dec 2012

Swedish private equity firm Ratos has paid itself a SEK150m ($22.8m) dividend by refinancing auction website KVD Kvarndammen.

The firm, which bought into KVD for SEK363m in 2010, said the refinancing was possible thanks to strong development of the company’s operations and cash flow, as well as the sale of property.

KVD is Sweden’s largest independent online marketplace offering broker services for capital goods such as cars, heavy vehicles and machinery, with about 200,000 unique visitors per week.

It had sales of SEK276m last year and employs about 170 people.

Ratos CEO Susanna Campbell said, “KVD Kvarndammen has developed very well since we acquired the company in autumn 2010.

“In 2012 the company has sold two properties, leading to a substantial reduction in the company’s net debt.

“Continued positive prospects and stable cash flows mean that we can carry out this refinancing and dividend while retaining a balanced capital structure in the company.”

Earlier this week Ratos teamed up with the Swedish National Pension Fund and Norwegian conglomerate Ferd to buy energy services company Aibel from Herkules Capital for NOK8.6bn ($1.5bn).

Ratos will provide about NOK1.4bn ($250m) for 32 per cent of Aibel through the deal, the Sixth AP Fund will hold 18 per cent and Ferd 50 per cent.

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