3i and Ratos have agreed to sell Alimak Hek, a Swedish company providing vertical access solutions for construction and other industries, to Triton. The sale price is approximately €238 (SEK2.19bn).
Christer Nilsson, director, 3i Nordic, said, ‘It has been great to be involved in the development of Alimak Hek. We have, together with management, completed a number of important acquisitions and developments. For example, we supported the establishment of a factory in China that enables Alimak Hek to have access to the important Asian market. Through our international network Alimak Hek has been able to build new useful contacts. Our targets set for the investment in Alimak Hek have been fulfilled.’
Ratos CEO Arne Karlsson added, ‘Extensive internal work in recent years combined with the focused growth strategy laid the foundations for Alimak Hek’s excellent earnings. The company’s management and employees have also created conditions for continued favourable development.’
Alimak Hek’s turnover has increased from €130m (SEK1.2bn) in 2001 to about €174m (SEK1.6bn) in 2006, according to a statement.
Copyright © 2006 AltAssets