Ratos’s portfolio company Contex Group has signed an agreement to sell Danish Contex AS to the private equity fund Procuritas Capital Investor V LP for a total of $41.5m.
Contex Group will be dismantled in conjunction with the deal and a dividend of approximately SEK 175m will subsequently be paid to Ratos.
The final returns generated by the exit depend on Contex's overall performance during the time period until completion. Over the course of the holding period, the average IRR of the asset was -16%.
Procuritas Capital Investor V LP closed on €200m in June 2012 and is managed by Hans Wikse.
Ratos acquired Contex Group from EQT in 2007, which then consisted of Contex A/S, Z Corporation and Vidar Systems. 3D Systems bought the latter two in 2011. EQT agreed to sell Contex Holding AS, a developer, manufacturer and supplier of innovative 2D and 3D digital image solutions, to Ratos for approximately SEK 1.6bn. EQT had been managing the company since 1999. Ratos's share in Contex Group is 99.6%.
The Danish company Contex AS is the world's largest producer of advanced large-format 2D scanners. Contex sells both under its own brand and as an OEM supplier to HP, among others. The company was founded in 1923 and is based in Alleroed, Denmark.
Susanna Campbell is the CEO of Ratos.
Equity injection aims to partly refinance the company’s €197m debt burden
Bradshaw will be expanding Dechert's private equity, cross-border M&A and finance practices
Seed funding is the first round ever raised by the Parisian startup
London- and Munich-based GP also announces three partner promotions in its London office