Ratos makes 3.6x return on full Inwido exit

Ratos sold its final 6 million shares of the Swedish company a year after Inwido listed on the Stockholm Stock Exchange in a SEK 1.1bn flotation.

At SEK 83 per share, the price represented a substantial increase on the listing price of SEK 68 per share. The sale contributed around SEK 50m to the GP's exit proceeds, which totalled SEK 1.48bn upon full exit.

Carnegie and Handelsbanken Capital Markets acted as joint bookrunners on the placement, which brings Ratos's decade-long ownership of Inwido to a conclusion.

Previous funding
Ratos acquired Inwido (then Elitfönstergruppen) in a secondary buyout from Triton in 2004 for SEK 473m, with a senior debt package provided by Nordea.

Since the buyout, the company has completed bolt-ons of close to 30 Nordic and European businesses.

The exit process began in September 2014, when Inwido was listed on the Stockholm Stock Exchange. The IPO valued the company at SEK 3.94bn and paid out SEK 1.15bn to Ratos.

Company
Inwido designs, manufactures and sells windows and doors. Its history dates back to 1924, when the oldest subsidiary, Elitfönster, was founded.

Today, the company has its most substantial operations in the Nordic region, as well as in 19 other countries, and employs approximately 3,000 people.

People
Susanna Campbell is the CEO of Ratos, while Håkan Jeppson is the CEO of Inwido.

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• Topics
• Nordics
• Exits
• Industrials
• Sweden
• Ratos Holding
• Carnegie
• Handelsbanken
• Triton Partners