Ratos nets 23% IRR from investment in Lindab International


Swedish private equity firm Ratos has made an exit gain of SEK85m ($13m) and an IRR of about 23 per cent from its investment in Lindab International after selling its remaining shares in the steel building parts maker to trade buyer Systemair.

The firm sold 8,849,157 shares in the company for SEK389m ($58m) priced at SEK44 each.

Ratos, Skandia Liv and AP6 bought Lindab from the stock exchange in 2001 and relisted the company in 2006.

In conjunction with the listing, Ratos sold about half of its holding and continued to own 22 per cent until autumn 2010 when an additional 11 per cent was sold.

“We believe in Lindab’s future and opportunities but our strategy is primarily to own unlisted companies,” said Ratos CEO Susanna Campbell.

“We retained our shares for longer than originally planned since the recent economic downturn has been difficult for Lindab, as it has for many other companies.

“Having supported Lindab in major action programmes in the first years of the crisis, we are now leaving a company which is continuing to improve its margins.”

The news follows a recent €103m investment by Ratos-backed Arucys Gruppen – Norway’s largest drinks company –in brands Aalborg, Brøndums, Gammel Dansk and Malteser from Pernod Ricard, the world’s second-largest spirits company.

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