Ratos buys Ledil for €50m

Ratos said in a press release it would provide around €50m of equity in the deal, which gives the company an enterprise value of €97m.

The GP will roll Ledil's approximate €13m net debt into the deal, but will not add any additional debt, a Ratos spokesperson told unquote".

The final size of the debt slice and Ratos's equity investment will be determined by the cash flow of Ledil until the deal is completed. The deal is expected to complete towards the end of 2014.

Following the transaction, the remaining 33% of Ledil will be retained by the company's founders and a number of key people.

Company
Founded in 2002, Ledil produces and sells proprietary LED lighting products for use in commercial applications such as retailers, offices and street lighting.

Ledil reported EBITA of €7.1m from total sales of €24.5m in 2013/14, and has a staff of 70 people.

Based in Salo, the company's products are manufactured by Chinese and Finnish subcontractors. End customers include Osram, Philips and GE.

People
Susanna Campbell is the CEO of Ratos.

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• Ratos Holding