Ratos-backed Inwido prepares IPO

The Swedish GP acquired Inwido (then Elitfönstergruppen) in a secondary buyout from Triton in 2004 for SEK 473m, and currently holds a 97% stake in the company.

It has since bolted on close to 30 Nordic and European companies, including JNA Vinduer & Døre earlier this year, and Protec Vinduer in 2011.

The group designs, manufactures and sells windows and doors. Its history dates back to 1924 when the oldest subsidiary, Elitfönster, was founded. Today, Inwido has its most substantial operations in the Nordic region, as well as in 19 other countries, and employs approximately 3,000 people.

Inwido's sales have nearly quadrupled since Ratos's acquisition, rising from SEK 1.1bn in 2003 to SEK 4.3bn in 2013. The company's EBITDA has grown from around SEK 134m in 2003 to SEK 345m in 2013.

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