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Ratos readies decade-long portfolio holding Inwido for Stockholm IPO

1 Sep 2014

InwidoSwedish private equity firm Ratos has revealed plans to list European window and door business Inwido following a strong increase in the market over the past three years.

Ratos bought Inwido in 2004 and has made 30 bolt-on acquisitions since across Scandinavia and Europe to make it the largest business of its kind on the continent.

The IPO is expected to take place before year end on the Nasdaq OMX Stockholm, Ratos said.

Ratos currently holds about 97 per cent of the business.

During the first half of 2014 Inwido had sales of about SEK2.2bn, an increase of 6 per cent when adjusted for currency and structural effects.

Last year the company had sales of about SEK4.3bn and EBITA adjusted for items affecting comparability amounted to SEK345m.

Ratos CEO Susanna Campbell said, “Inwido has implemented significant changes which, together with a nascent market recovery in the Nordic countries contributing to the result strongly improved.

“We continue to see great opportunities for Inwido to improve profitability, but when the most extensive changes have now been implemented Inwido goes into a new phase, and it is therefore time to evaluate the possibilities to reduce our ownership.

“We believe Inwido fits comfortably on the stock market and it is also a natural next step for Inwido in their consumer-driven strategy.”

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