Ratos makes loss on SEK 650m Euromaint exit

The deal sees Orlando's mid-market fund SSVP acquire 100% of the shares in Euromaint, in a SEK 650m EV deal.

Ratos said in a statement it expected to generate no results from the exit, which resulted in a negative IRR for the GP, having recently taken a SEK 1.7bn impairment to its portfolio book stemming from five companies, including Euromaint. The fund manager previously stated Euromaint has performed poorly for several years.

In January, Ratos sold the German subsidiary of Euromaint to Iberia Industry Capital, which caused a SEK 200m loss of revenue to the group and negatively affected the company's book value.

Previous funding
Ratos acquired 100% of Euromaint in August 2007 through an MBO valued at €130m, of which a €47.8m equity stake was provided by the GP.

Euromaint completed two bolt-ons in 2009, worth a total of €20m.

Company
Headquartered in Solna, Euromaint is a Swedish provider of maintenance services for the rail transport industry.

The company generates around SEK 1.6bn in revenues with EBITDA of SEK 65m. The company employs a staff of 1,050.

People
Ratos – Lars Johansson (acting CEO).

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• Topics
• Exits
• Buyouts
• Nordics
• Industrials
• Ratos Holding
• Sweden
• Secondary buyout