Ratos refinances Kvarndammen

Ratos's consolidated book value for KVD will be adjusted downwards by a corresponding amount.

KVD Kvarndammen disposed of two properties during 2012, decreasing the company's net debt, which alongside the development of KVD's operations and cash flow made the refinancing possible, the GP said in a statement.

Ratos wholly acquired KVD in 2010 from the Sixth AP fund - a transaction that gave the company an enterprise value of SEK 550m. The investor provided SEK 363m of equity for the transaction and the deal was won through an auction process run by PricewaterhouseCoopers. SEB supported the deal with a debt package.

Company
Gothenburg-based KVD Kvarndammen is an online auction site for cars, heavy vehicles and machinery. Founded in 1991, the company also runs a valuation service for cars under the www.bilpriser.se website.

Employing approximately 175 people, the company recorded a turnover of SEK 276m and EBITA of SEK 52m in 2011.

People
Susanna Campbell is the CEO of Ratos. Ulrika Drotz Molin is the CEO of KVD.

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• Topics
• Nordics
• Restructuring
• Consumer
• Now researching
• Sweden
• Ratos Holding
• Refinancing