Ratos company Aibel receives extension of Equinor frame agreement

Ratos

Equinor has decided to exercise a contract option for maintenance and modifications services on the Norwegian Continental Shelf (NCS). Aibel estimates that the value of the extension is approx. NOK 5.5 billion. Aibel will work on continuous improvements, digitalization of processes, and contribute to a sustainable development of the NCS.

Aibel’s frame agreements with Equinor for maintenance and modifications comprise work on ten offshore installations and five onshore facilities, and the agreements constitute a major part of Aibel’s activities. The current agreements expire at the end of February 2023, and the new extension prolongs the agreement until February 2026.

“As owners, we are proud of Aibel and thankful to Equinor for the award. It means securing jobs and it is a message of strength for Aibel’s future operations,” says Christian Johansson Gebauer, member of the board of Aibel and President Business Area Construction & Services at Ratos.

Going forward, Aibel and Equinor will continue to work on several common objectives within HSE, efficiency improvements, new technologies and implementation of digital tools. In addition, there will be a strong focus on low-carbon deliveries and ensuring safe, smart and cost-effective deliveries.

“The frame agreement is very important for Aibel. Maintenance and modifications contract provides significant activity, not at least in North of Norway, and we are very pleased to have continued our long-term relationship with Equinor. The agreement offers interesting tasks and good predictability for the approximately 1,000 employees who regularly work on M&M services from our offices, yard and on off- and onshore installations,” says Aibel President and CEO, Mads Andersen.

About Aibel
Aibel is a full-range supplier of innovative and sustainable solutions. The company builds and maintains critical infrastructure for energy companies and is one of the largest suppliers on the Norwegian continental shelf. Aibel holds a leading position within electrification of offshore oil and gas installations and onshore processing plants and is a significant supplier to the European offshore wind industry. More than 4,300 skilled employees work close to the customers at the company’s offices in Norway, Thailand and Singapore. In addition, Aibel owns two modern yards in Haugesund, Norway, and in Laem Chabang, Thailand, with significant prefabrication and construction capacity.

For further information:
Christian Johansson Gebauer, Board member in Aibel and President Business Area Construction & Services, Ratos, +46 8 700 17 00
Mads Andersen, President and CEO, Aibel, +47 982 96 501
Josefine Uppling,VP Communication, Ratos, +46 76 114 54 21

About Ratos
Ratos is a business group consisting of 13 companies divided into three business areas: Construction & Services, Consumer and Industry. In total 2020, the companies have approximately SEK 36 billion in sales. Our business concept is to develop companies headquartered in the Nordics that are or can become market leaders. We enable independent companies to excel by being part of something larger. People, leadership, culture and values are key focus areas for Ratos. Everything we do is based on Ratos’s core values: Simplicity, Speed in Execution and It’s All About People.

Categories: News

Tags:

AURELIUS Equity Opportunities subsidiary BMC Benelux acquires De Rycke Bouwmaterialen

Aurelius Capital
  • Strong start to the year also in the area of add-on acquisitions: Add-on-acquisitions to Building Partners Group, EIG and BMC with combined revenues of over EUR 80 million and strong EBITDA contribution
  • Strategic add-on acquisition De Rycke with significant synergy potential to BMC
  • Continuing exciting market environment with great opportunities for the AURELIUS business model expected

Munich, 14 February 2022 – AURELIUS Equity Opportunities SE & Co. KGaA (ISIN DE000A0JK2A8) announces the third add-on acquisition in year 2022. The group subsidiary BMC Benelux signed an agreement to acquire the building materials division of De Rycke, based in Beveren near Antwerp (Belgium). Together with the add-on acquisitions of Building Partners Group and EIG that have been announced since the start of the year, this increases AURELIUS consolidated revenues by over EUR 80m. The equity investment for all three add-on acquisitions is in the single-digit million euro range. The three companies make a mid-single-digit EBITDA contribution to the consolidated result, which will increase significantly through synergies with the existing portfolio companies.

The AURELIUS subsidiary BMC Benelux, a leading Belgian building materials merchant in the B2B sector, has agreed to acquire the building materials business of De Rycke. De Rycke Bouwmaterialen offers its customers a diverse product range and comprehensive services and consulting from new build projects to renovation. The Beveren location will be significantly strengthened by the integration into the BMC Benelux business and network. Through this acquisition, BMC Benelux will gain a presence in the Ghent – Antwerp – Brussels region. For De Rycke and BMC, this creates significant synergy and market potential to the existing business.

“With these three acquisitions, we have made a very good start to the new year in terms of acquisitions and have been able to strategically strengthen three of our group companies through add-ons,” Matthias Täubl, CEO of AURELIUS Equity Opportunities, is pleased to report. “The market environment remains exciting, we continue to see great opportunities for our business model in the turbulence caused by the ongoing coronavirus pandemic. We expect the market for group spin-offs to remain dynamic and this will create interesting opportunities for us to make acquisitions in all three segments we address – co-investments, platform investments and also in the area of strategic add-on acquisitions to strengthen our existing group companies.”

BMC Benelux is one of the top five players in a large market that remains highly fragmented. Under the two brand names YouBuild and Mpro, BMC Benelux primarily targets small and medium-sized professional customers in the construction industry. The retail chain has a dense branch network throughout Belgium, a wide product range and excellent services, such as delivery, cutting and rental of specialty tools. BMC Benelux has been part of AURELIUS since October 2019.

Categories: News

Tags:

Audax Private Equity Announces Creation of New Home Services Platform, Renovo Home Partners

Audax Group
Renovo Home Partners

JAN 31, 2022

Audax Private Equity (“Audax”) today announced the creation of Renovo Home Partners (“Renovo” or the “Company”), a newly established platform providing home repair and remodel products and services.

Based in Dallas, Texas, Renovo Home Partners is a direct-to-consumer (“DTC”) provider of repair and remodel services focused on high-volume quick-turn bath, window, siding, roofing, and other remodeling services. The Company was formed through the combination of three regional remodeling businesses: Dreamstyle, Remodel USA, and Alure Home Improvements. Through its growing network of brands, Renovo’s platform provides a full range of products, installation services, and premier customer service experience to homeowners throughout the United States. Today, Renovo operates primarily in the west coast and mountain west, mid-Atlantic, and northeast regions, with a vision to expand nationwide. Built on a culture of performance and continuous improvement, the Renovo platform provides access to peer experience and insight as well as the necessary infrastructure, processes, and tech-enabled resources to help partners thrive.

“We believe the DTC home improvement market is well suited for Audax’ Buy & Build strategy, and we plan to work to scale rapidly,” said Jay Mitchell, Managing Director at Audax Private Equity. “We see an exciting opportunity to invest in and support the brands, with the goal of helping to accelerate Renovo’s growth trajectory, broaden its existing product portfolio, and expand into new geographic areas through greenfields and complete targeted acquisitions. We’re thrilled to partner with CEO John Dupuy and the entire team as this newly formed entity takes shape.”

“Given the long-term success of the three brands, we saw significant potential in combining the businesses under one umbrella to create a larger, more diversified company and ultimately working to become one of the nation’s leading DTC home repair and remodel services company,” said John Dupuy, Chief Executive Officer of Renovo Home Partners. “In seeking to find a partner to help us bring our vision to life, Audax’ track record of helping companies scale and capitalize on their growth strategies was a perfect fit for our needs at this stage in the Company’s lifecycle. We believe this investment will help to achieve our goals and provide significant benefits and opportunities to all of Renovo’s stakeholders, most notably our customers and employees. We’re proud to be a part of the Audax family and look forward to a successful and lengthy partnership.”

Ropes & Gray LLP and Fredrikson & Byron P.A. served as legal counsel to Audax.

Categories: News

Tags:

HENT signs major collaboration contract with FREYR for new battery factories in Norway

Ratos

The Norwegian construction company HENT AS, which is 73% owned by Ratos, has signed a major collaboration contract with FREYR Battery Norway AS. The contract pertains to the construction of new factories to manufacture batteries that will reduce carbon emissions from the rapidly expanding global market for electric mobility.

FREYR is planning to build factories to produce up to 43 GWh of battery cell capacity by 2025 and up to 83 GWh in annual capacity by 2028. The first factories will be established in the Mo i Rana Industrial Park in Norway.

The first stage in the development is the construction of a 13,000-square-metre customer qualification plant. Stage two of the establishment process in Mo i Rana is to construct the first gigafactory (GF) of approximately 100,000 square metres, which following a gradual increase in production lines will have a total annual production capacity of 11.9 GWh.

“As HENT’s owner, we are pleased with this development. HENT is going from strength to strength, and is securing significant collaboration contracts. The company is known for its collaborative model and expertise in complex projects, which is obviously attractive when landmarks are to be built or new ground broken. Further proof of this is the commission to be part of constructing the battery factories,” says Christian Johansson Gebauer, Chairman of the Board of HENT and President Business Area, Construction and Services, Ratos.

FREYR and HENT have entered into a collaboration contract for the first coordination phase. The contract will extend until the final investment decision has been taken for the gigafactory. The intention is to then to proceed with an agreement between the parties to also collaborate in the second phase.

About HENT AS
HENT is a leading construction company that mainly works with new construction of public and commercial real estate. HENT focuses on project development, project management and purchasing. Its projects are carried out with their own project administration and in collaboration with a knowledgeable network of quality-assured subcontractors. They conduct projects throughout Norway and in selected segments in Sweden and Denmark.

About FREYR Battery Norway AS
FREYR is a pioneering manufacturer of clean battery solutions for a better planet. FREYR is driven by cost-efficient hydro and wind power and designs and manufactures high-density, cost-stable lithium ion batteries with a lower carbon footprint for the rapidly expanding global market for electric mobility, stationary energy storage and marine and aviation applications.

For further information, please contact:
Christian Johansson Gebauer
Chairman of the Board of HENT and President Business Area, Construction & Services, Ratos
+46 8 700 17 00

Josefine Uppling
VP Communications, Ratos
+46 76 114 54 21

About Ratos:
Ratos is a business group consisting of 13 companies divided into three business areas: Construction & Services, Consumer and Industry. In total 2020, the companies have approximately SEK 36 billion in sales. Our business concept is to develop companies headquartered in the Nordics that are or can become market leaders. We enable independent companies to excel by being part of something larger. People, leadership, culture and values are key focus areas for Ratos. Everything we do is based on Ratos’s core values: Simplicity, Speed in Execution and It’s All About People.

Categories: News

Tags:

Marcone Announces Acquisition of Munch’s Supply

Combination Positions Marcone as an Integrated Hub for Residential Parts and Services


ST. LOUIS, Jan. 11, 2022 /PRNewswire/—Marcone, a leading distributor of home appliance, HVAC, and plumbing repair parts and equipment across North America and current portfolio company of Genstar Capital, today announced that it has acquired Munch’s Supply (“Munch’s”), a leading distributor of HVAC equipment, parts and supplies from Ridgemont Equity Partners. The acquisition immediately establishes Marcone as a leader in the HVAC sector and, combined with its recent acquisition of plumbing distributor Professional Plumbing Group (“PPG”), dramatically expands its services to the home. Ridgemont and the Munch’s management team will retain a meaningful minority stake in the combined entity.

Founded in 1956, Munch’s Supply is a leading supplier of HVAC and plumbing replacement parts and equipment. Headquartered in Hillside, IL, Munch’s sells approximately 135,00 SKUs across 65 facilities with a workforce of approximately 1,100 employees. With the addition of Munch’s, Marcone now operates in three large, growing markets within the home (appliances, HVAC and plumbing) servicing millions of homes, 43,000 technicians and larger strategic customers such as property managers, retailers, home warranty and ecommerce providers with tens of millions of parts sold annually across its 113 locations throughout the United States and Canada. Marcone also offers a growing suite of services and technology to its customers including training, payroll, insurance, inventory management and field service management.

Jim Souers, Chief Executive Officer of Marcone, stated, “Munch’s has built a strategic partnership with the preeminent industry OEMs, offering the highest quality and most trusted brands in the market. Customers value their partnership with Munch’s, and we hope to build on the relationships they have established to offer additional products and services. As we further build Marcone as a partner serving the appliance, HVAC and plumbing sectors, I look forward to working with Bob Munch and his team to leverage the core tenets of Munch’s philosophy including its reputation as an M&A acquiror of choice in the HVAC sector.”

Bob Munch, Chief Executive of Munch’s, said, “We have built Munch’s over the decades into a one-stop-shop that ensures our customers have a consistent and trusted partner to access the industry’s most iconic brands, enabling them to perform critical installation, repair and service work with minimal downtime. Our growing eCommerce presence will also provide best-in-class technology capabilities and deliver seamless integration with our suppliers and customers. Munch’s local approach to serving the needs of suppliers, customers, and employees is a strong cultural fit with Marcone, and we look forward to becoming part of their family and building Marcone’s HVAC service capabilities to broader geographies.”

Rob Rutledge, Managing Director at Genstar Capital, said, “Munch’s is a terrific business that fits squarely into Jim’s thesis of being the hub for parts and services to the home. We are excited to partner with Bob, Ridgemont and the Munch’s team to accelerate the growth of the platform, including through organic initiatives to better serve our combined customer base and continued M&A opportunities in the sizable HVAC and plumbing markets.”

Jack Purcell, Managing Partner at Ridgemont, added, “Alongside Bob and his team, we expanded the Munch’s platform into several new states, entered the Canadian market and significantly diversified the company’s product offering. Even years before our investment in Munch’s Supply, we admired the company’s legacy as a trusted partner to suppliers and customers at the local level, and we are very pleased to join forces with Genstar and Marcone, an industry leader in the appliance market with a great reputation as a solutions-oriented provider.”

Baird and Houlihan Lokey served as financial advisors to Munch’s. BMO Capital Markets served as financial advisor to Genstar and Marcone. Alston & Bird served as legal counsel to Munch’s. Weil, Gotshal & Manges LLP served as legal counsel to Genstar and Marcone.

About Marcone

Marcone is an authorized distributor for major brands such as Whirlpool, Electrolux, General Electric, Maytag, Bosch, Samsung, L-G and many more. Through its vast distribution network, Marcone supplies the largest inventory of original replacement parts in the country for household appliances such as refrigerators, ranges, dishwashers, microwaves, washers, and dryers.  Marcone exports globally and also operates a comprehensive training institute offering quality business and technical training. Headquartered in St. Louis, Marcone operates 113 facilities, has approximately 2,000 employees, and serves approximately 43,000 technician customers. For more information, visit www.marcone.com.

About Munch’s Supply

Munch’s Supply was founded in 1956 by Willard Munch, who wanted to develop a local source of electrical supplies for area contractors. Today, the Company has more than 1,000 employees focused on supplying heating, cooling and plumbing industry contractors with quality products and exceptional service. Proudly celebrating its 65th year in business in 2021, Munch’s Supply operates with a commitment to service as a leading distributor for trusted brands such as American Standard, Trane, Mitsubishi, Rheem, IPEX, AO Smith, Kohler, Tempstar, Keeprite and Frigidaire. Through Munch’s Holdings, LLC, it operates Munch’s Supply, Tommark, O’Connor Company, Comfort Air Distributing, C&L Supply HVAC and Plumbing, API of NH and Delta T, Marks Supply and TML Supply which continue to serve as the premier sources for HVAC and plumbing equipment and supplies to contractors throughout North Americawww.munchsupply.com.

About Genstar Capital

Genstar Capital (www.gencap.com) is a leading private equity firm that has been actively investing in high quality companies for over 30 years.  Based in San Francisco, Genstar works in partnership with its management teams and its network of strategic advisors to transform its portfolio companies into industry-leading businesses. Genstar currently has approximately $33 billion of assets under management and targets investments focused on targeted segments of the financial services, industrials, healthcare, and software industries.

About Ridgemont Equity Partners

Ridgemont Equity Partners is a Charlotte-based middle market buyout and growth equity investor. Since 1993, the principals of Ridgemont have invested over $5.5 billion. The firm focuses on equity investments up to $250 million and utilizes a proven, industry-focused investment approach and repeatable value creation strategies. www.ridgemontep.com

Contact: Chris Tofalli
Chris Tofalli Public Relations                                                                        
914-834-4334

Categories: News

Tags:

Bridgepoint to realise investment in Miller Homes

Bridgepoint

NEW YORK and EDINBURGH, Scotland, Dec. 24, 2021 — Apollo (NYSE: APO) and Miller Homes Group Limited (“Miller Homes” or the “Company”), one of the U.K.’s leading homebuilders, today announced that funds managed by Apollo affiliates (the “Apollo Funds”) have, together with existing management, entered into a definitive agreement to acquire the Company from Bridgepoint Group plc (“Bridgepoint”). Financial terms were not disclosed.

Established in 1934, Miller Homes is a premier homebuilder in the U.K. with a focus on building high-quality family homes in regional markets in England and Scotland. On track for a record 2021, the Company builds approximately 4,000 homes a year across nine regions with ambitions to grow to 6,000 units annually in the medium-term.

Alex Humphreys, Partner at Apollo, said: “We are delighted that the Apollo Funds are acquiring Miller Homes. The Company’s reputation for exceptional customer service and high-quality homes has differentiated it as a respected leading homebuilder. Miller Homes has a strong presence in suburban locations that continue to see strong consumer demand, and we look forward to working alongside the talented management team to execute on their growth strategy.”

Christopher Hojlo, Partner at Apollo, said: “We continue to see opportunities to invest in the residential housing market as consumer demand for new homes accelerates. Today’s announcement further builds on Apollo’s continued commitment to the housing sector, most recently including current and pending investments by Apollo and its affiliates in U.S. homebuilder, The New Home Company, and leading U.K. specialist mortgage lender, Foundation Home Loans. We look forward to leveraging our industry knowledge and relationships to scale the business and to provide more customers with high-quality family homes.”

Chris Endsor, Chief Executive Officer of Miller Homes, said: “This is an exciting development for Miller Homes in continuing our recent strong momentum. Apollo has deep housing expertise, with a global platform, extensive resources and capital to create value for all stakeholders.

“I would like to thank the team at Bridgepoint for all the support they have provided during their ownership of the business. The past four years have witnessed a period of expansion and strong operational performance for Miller Homes, as well as having to adapt the business in exceptional circumstances. We have emerged stronger for it and are very well-placed to achieve our medium-term target of 6,000 units while maintaining the product quality and service for which we are known.”

Jamie Wyatt, partner and co-head of U.K. investment at Bridgepoint, said: “We are delighted to have supported Miller Homes and its management to grow the business over the last four years. Under our period of ownership, the number of houses sold per annum rose by a third, revenues exceeded £1 billion for the first time and profits increased by almost 50%. The business also expanded into new U.K. regions and completed two strategic acquisitions. We wish the whole team and their new investors every success in the exciting next phase of the Miller Homes journey.”

The Apollo Funds have committed financing to complete the acquisition and expect to redeem the existing financing prior to close. The transaction is subject to customary closing conditions and is expected to be completed in the first quarter of 2022.

Rothschild and Co. (Lead) and Moelis & Company LLC are serving as financial advisors to Bridgepoint, and Travers Smith is serving as legal counsel. Barclays (Lead) and HSBC are serving as financial advisors to Apollo, and Sidley Austin LLP is serving as legal counsel. Miller Homes received legal advice from DLA Piper.

Categories: News

Tags:

Apollo Funds to Acquire Miller Homes

Apollo Global

Leading U.K. Homebuilder Poised for Continued Growth

NEW YORK and EDINBURGH, Scotland, Dec. 24, 2021 — Apollo (NYSE: APO) and Miller Homes Group Limited (“Miller Homes” or the “Company”), one of the U.K.’s leading homebuilders, today announced that funds managed by Apollo affiliates (the “Apollo Funds”) have, together with existing management, entered into a definitive agreement to acquire the Company from Bridgepoint Group plc (“Bridgepoint”). Financial terms were not disclosed.

Established in 1934, Miller Homes is a premier homebuilder in the U.K. with a focus on building high-quality family homes in regional markets in England and Scotland. On track for a record 2021, the Company builds approximately 4,000 homes a year across nine regions with ambitions to grow to 6,000 units annually in the medium-term.

Alex Humphreys, Partner at Apollo, said: “We are delighted that the Apollo Funds are acquiring Miller Homes. The Company’s reputation for exceptional customer service and high-quality homes has differentiated it as a respected leading homebuilder. Miller Homes has a strong presence in suburban locations that continue to see strong consumer demand, and we look forward to working alongside the talented management team to execute on their growth strategy.”

Christopher Hojlo, Partner at Apollo, said: “We continue to see opportunities to invest in the residential housing market as consumer demand for new homes accelerates. Today’s announcement further builds on Apollo’s continued commitment to the housing sector, most recently including current and pending investments by Apollo and its affiliates in U.S. homebuilder, The New Home Company, and leading U.K. specialist mortgage lender, Foundation Home Loans. We look forward to leveraging our industry knowledge and relationships to scale the business and to provide more customers with high-quality family homes.”

Chris Endsor, Chief Executive Officer of Miller Homes, said: “This is an exciting development for Miller Homes in continuing our recent strong momentum. Apollo has deep housing expertise, with a global platform, extensive resources and capital to create value for all stakeholders.

“I would like to thank the team at Bridgepoint for all the support they have provided during their ownership of the business. The past four years have witnessed a period of expansion and strong operational performance for Miller Homes, as well as having to adapt the business in exceptional circumstances. We have emerged stronger for it and are very well-placed to achieve our medium- term target of 6,000 units while maintaining the product quality and service for which we are known.”

Jamie Wyatt, partner and co-head of U.K. investment at Bridgepoint, said: “We are delighted to have supported Miller Homes and its management to grow the business over the last four years. Under our period of ownership, the number of houses sold per annum rose by a third, revenues exceeded £1 billion for the first time and profits increased by almost 50%. The business also expanded into new U.K. regions and completed two strategic acquisitions. We wish the whole team and their new investors every success in the exciting next phase of the Miller Homes journey.”

The Apollo Funds have committed financing to complete the acquisition and expect to redeem the existing financing prior to close. The transaction is subject to customary closing conditions and is expected to be completed in the first quarter of 2022.

Rothschild and Co. and Moelis & Company LLC are serving as financial advisors to Bridgepoint, and Travers Smith is serving as legal counsel. Barclays (Lead) and HSBC are serving as financial advisors to Apollo, and Sidley Austin LLP is serving as legal counsel. Miller Homes received legal advice from DLA Piper.

About Apollo

Apollo is a high-growth, global alternative asset manager. We seek to provide our clients excess return at every point along the risk-reward spectrum from investment grade to private equity with a focus on three business strategies: yield, hybrid and opportunistic. Through our investment activity across our fully integrated platform, we serve the retirement income and financial return needs of our clients, and we offer innovative capital solutions to businesses. Our patient, creative, knowledgeable approach to investing aligns our clients, businesses we invest in, our employees and the communities we impact, to expand opportunity and achieve positive outcomes. As of September 30, 2021, Apollo had approximately $481 billion assets under management. To learn more, visit www.apollo.com.

About Miller Homes

For over 85 years, Miller Homes has established a reputation for building outstanding quality family homes and providing forward thinking customer service. The company is committed to building homes safely, in a way which is considerate to the environment. The company has achieved 5-star status in the HBF National New Home Customer Satisfaction Survey for nine of the last 10 years. Further information is available by visiting www.millerhomes.co.uk.

About Bridgepoint

Bridgepoint Group plc is the world’s leading quoted private assets growth investor focused on the middle-market with over €30 billion AUM and a local presence in the U.S., Europe and China. We specialize in private equity and private credit and invest internationally in six principal sectors – business services, consumer, financial services, healthcare, advanced industrials and technology. For more information visit www.bridgepoint.eu.

Contacts

Apollo:
For investors:
Noah Gunn
Global Head of Investor Relations
Apollo Global Management, Inc.
(212) 822-0540
IR@apollo.com

For media:
Joanna Rose
Global Head of Corporate Communications
Apollo Global Management, Inc.
(212) 822-0491
communications@apollo.com

Miller Homes
TB Cardew
Miller@tbcardew.com
Ed Orlebar – +44 7738 724630
Shan Shan Willenbrock – +44 7775 848537

Bridgepoint
James Murray – +44 7802 259861
james.murray@bridgepoint.eu
Christian Jones – christian.jones@bridgepoint.eu

Categories: News

Tags:

Ratos to place all of its Swedish construction operations in new Svensk Samverkansentreprenad Aktiebolag (SSEA) Group

Ratos

Ratos has established Svensk Samverkansentreprenad Aktiebolag (SSEA) Group with the ambition of becoming Sweden’s leading construction group in partnering and collaboration contracts. The Ratos company Vestia Construction Group and HENT’s Swedish operations will be part of the group. The goal is “555”: SEK 5 billion in sales within 5 years, with an EBITA margin of 5%.

“Ratos strongly believes in partnering and collaboration in construction contracts. We know this leads to increased satisfaction and lower total costs for the customer as well as significantly fewer miscommunications. Now all of Ratos’s Swedish construction operations will be part of a joint group following the creation of SSEA Group, Sweden’s leading player in partnering contracts,” says Christian Johansson Gebauer, President Business Area Construction & Services at Ratos.

 

Vestia Construction Group holds a leading position in partnering and collaboration contracts in the Gothenburg region, with sales of SEK 891m in the last 12 months and an EBITA margin of 5.1%. Ratos acquired 62% of the shares in the company in spring 2021 and since then has been impressed by the company’s ability to have the highest levels of customer satisfaction in the market along with industry-leading profitability.

 

HENT Sweden has demonstrated impressive growth since it was formed in 2016 and is now an established player within major complex contract partnerships across all of Sweden. The company recently completed Sara Kulturhus in Skellefteå, one of the world’s tallest buildings made out of wood. HENT Sweden had SEK 1,612m in sales in the last 12 months, with an EBITA margin of 2%.

 

“By combining Vestia’s corporate culture and experience in collaboration and partnering with HENT Sweden’s experience with major complex projects, we’ll create a strong and competitive player in the Swedish construction market. We’ll continue our successful partnerships with the companies’ existing customers while also strengthen our offering for new customers,” says Christian Wieland, incoming President & CEO of SSEA Group.

 

SSEA Group has signed an agreement with HENT AS to acquire 100% of the shares in HENT Sverige AB. HENT AS will maintain its presence in the Swedish market through a partnership with SSEA Group.

 

“We’re very pleased to have built up a strong construction contractor in Sweden which will now become part of the new Swedish construction group at Ratos. HENT AS will concentrate its operations in Norway, while we and our customers will still have access to the Swedish market. We look forward to a positive collaboration with our new sister company SSEA Group,” says Jan Jahren, President & CEO of HENT AS.

 

Christian Wieland will remain CEO of Vestia in addition to his new role as President & CEO of SSEA Group. Jan Krepp, who is currently CEO of HENT Sverige AB, will remain CEO of SSEA (currently HENT Sverige AB).

 

The foundation of SSEA Group and acquisition of HENT Sverige AB are expected to be concluded in December 2021. The group will be part of the Construction & Services business area at Ratos.

 

For further information
Christian Johansson Gebauer, President Business Area Construction & Services, Ratos
+46 8 700 17 00

 

Christian Wieland, incoming President & CEO, SSEA Group
+46 706 54 09 30

 

About Ratos
Ratos is a business group consisting of 13 companies divided into three business areas: Construction & Services, Consumer and Industry. In total 2020, the companies have approximately SEK 36 billion in sales. Our business concept is to develop companies headquartered in the Nordics that are or can become market leaders. We enable independent companies to excel by being part of something larger. People, leadership, culture and values are key focus areas for Ratos. Everything we do is based on Ratos’s core values: Simplicity, Speed in Execution and It’s All About People.

Categories: News

Tags:

Adelis establishes Circura, the leading building rehabilitation services group, in partnership with entrepreneurs

Adelis Equity

Adelis and four entrepreneur-led companies join forces to create Circura, the leading provider of building rehabilitation services in Sweden. Circura will have revenues of SEK 2 billion and focus on the growing segment for rehab, renovation and related services. With Adelis as growth partner, Circura aims to consolidate the market and double revenue by 2025.

The Swedish market for building rehabilitation, renovation and related services amounts to SEK 200 billion per year. The market is expected to grow strongly driven by increasing needs in the public sector, a significant pent-up demand in the residential building stock as well as changing habits following the pandemic. At the same time, the industry is adapting to more ambitious sustainability targets, which include innovative production processes, energy-efficient solutions and circular models for re-usage of material and products.

Circura becomes the market-leading provider of building rehabilitation services in Sweden, with SEK 2 billion in revenue and 400 employees. Reomti, Våtrumsteknik, Heving&Hägglund and Dipart are all entrepreneur-led companies with leading positions within their respective niches. The companies will continue to operate as independent businesses with their current brands and same management, whilst having the benefits, resources and financial strength of a larger group.

Torbjörn Torell will assume the role of working chairman at Circura, bringing over 40 years of experience from the sector, including CEO roles at One Nordic, Svevia and Bravida. The board will also be joined by Ulrika Francke, chairwoman of Vasakronan, former CEO of Tyréns and previously in leading positions at the Stockholm City Council.

“Circura will be a unique player in the market, combining highly successful rehab specialists which, when combined into a larger group, will be able to provide even more competitive and complete services to their customers. The companies will retain their strong customer relationships and entrepreneurial cultures, whilst benefiting from being part of a larger group – the best of both worlds. Together, we will become the industry leader in customer focus, quality and sustainability”, says Torbjörn Torell, chairman at Circura.

With Adelis as growth partner and thanks to its industry experience, Circura sets out to consolidate the industry through acquisitive growth, and double revenue by 2025.

“Adelis has followed the rehabilitation services market over many years, and in particular the pent-up renovation demand that is growing ever more urgent. Simultaneously, we see stricter requirements in terms of quality and sustainability which create attractive opportunities for a larger professional group with greater resources. We are therefore very pleased to establish Circura together with leading entrepreneurs, and we look forward to working with all employees on this exciting growth journey”, says Erik Hallert, at Adelis Equity Partners.

For further information:

Torbjörn Torell, Chairman Circura

Phone: 070-577 40 40

E-mail: torbjorn.torell@circura.se

Erik Hallert, Adelis Equity Partners

Phone: 070-936 80 41

E-mail: erik.hallert@adelisequity.com

About Circura

Circura is the market-leading provider of building rehabilitation services in Sweden. We operate a decentralized and customer-oriented business model, whilst having benefits and strength of a larger group, to rehabilitate and renew buildings with modern and sustainable methods. Circura consists of a group of leading rehab companies, specialised in their respective local markets. Circura has turnover of SEK 2 billion and 400 employees. For more information, please visit www.circura.se.

About Adelis Equity Partners

Adelis is a growth partner for well-positioned, Nordic companies. Adelis partners with management and/or owners to build businesses in growth segments and with strong market positions. Since raising its first fund in 2013, Adelis has been one of the most active investors in the Nordic middle-market, making 28 platform investments and more than 120 add-on acquisitions. Adelis today manages approximately €2 billion in capital. For more information please visit www.adelisequity.com.

Categories: News

Tags:

Latour divests its shares in Neuffer Fenster + Türen GmbH

No Comments
Latour logo
2021-12-09 16:00

Investment AB Latour has, through its fully owned subsidiary Latour-Gruppen AB, signed an agreement to divest its shares in Neuffer Fenster + Türen GmbH (“Neuffer”) to IFN-Holding AG (“IFN”), based in Traun, Austria. The completion of the transaction is expected to take place during the month of January 2022, subject to customary closing conditions.

Neuffer is a company active in the distribution, development and installation of windows and doors through online sales and Latour acquired 66 per cent of the shares in Neuffer in 2015 in order to gain additional competence and knowledge within the e-commerce area. This initiative has now been completed and following a strategic review Latour has come to the conclusion to divest its ownership in Neuffer in order for Neuffer to continue its development with IFN as the new majority owner.

As an effect of the divestment the net debt (excl. IFRS 16) of the Latour Group is expected to decrease compared to the net debt level at the end of September 2021, to around SEK 8.3 billion, all else equal.

Göteborg, December 9, 2021

INVESTMENT AB LATOUR (PUBL)
Johan Hjertonsson, CEO

For further information, please contact:
Martin Knobloch, CEO Hultafors Group AB, +46 722 148 946
Jens Eriksson, CFO Hultafors Group AB, +46 702 114 601

Investment AB Latour is a mixed investment company consisting primarily of a wholly-owned industrial operations and an investment portfolio of listing holdings in which Latour is the principal owner or one of the principal owners. The investment portfolio consists of ten substantial holdings with a market value of about SEK 94 billion. The wholly-owned industrial operations has an annual turnover of SEK 17 billion.

Downloads

 

Categories: News

Tags: