Ratos partially exits Euromaint

The deal gave the business an enterprise value of SEK 100m and is expected to close in December 2011.

Ratos highlighted that Euromaint Industry was a small part of the company and regarded the exit as a strategic decision in line with its efforts to turn the formerly state-owned company into a profitable private business. The remaining part of Euromaint will now focus exclusively on railway maintenance services.

Previous funding
Euromaint emerged from the 2001 division of Swedish state-owned railway giant Statens Järnvägar into six separate businesses. The company acquired Euromation in 2005, renamed it Euromaint Industry, and expanded the business geographically within Sweden.

Ratos took a 100% stake in Euromaint in 2007. In 2009, it supported Euromaint Industry in its acquisition of maintenance company EISAB Energi och Industriservice and a maintenance division from Husqvarna.

Company
Euromaint, founded in 2001 and based in Solna, Sweden, specialises in maintenance for railway and industrial companies. The company recorded an adjusted EBITDA of SEK 7m for 2010.

Euromaint Industry, founded in 2000 as Euromation and previously part of Volvo, employs around 300 staff and recorded a SEK 360m turnover in 2010.

Coor Service Management, based in Stockholm, Sweden, provides facilities management services in offices, production facilities, real estate, and the public sector. It recorded a SEK 6.3bn turnover in 2010 and employs around 4,300 staff.

People
Investment director Henrik Joelsson and senior investment manager Jonathan Wallis worked on the deal for Ratos. Nicklas Falk is the CEO of Euromaint Industry.

Advisers
Vendor – Access Partners (Corporate finance); Deloitte (Financial due diligence); Baker & McKenzie (Legal).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Nordics
• Exits
• Industrials
• Sweden
• Ratos Holding
• Cinven