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SWEDEN – Ratos completes SEK 4.3bn sale of Hägglunds Drives

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Ratos has agreed to sell engineering business Hägglunds Drives to Bosch Rexroth for approximately SEK 4.3bn, which will give the investor an overall exit gain of about SEK 4.4bn following the SEK 1bn recapitalisation completed in 2006. The sale is subject to approval from competition authorities.

Hägglunds Drives supplies hydraulic drive systems, drive motors and services for heavy duty industrial applications. Headquarted in Mellansel, outside Örnsköldsvik, the company has approximately 900 employees and has subsidiaries in 16 countries, with exports accounting for more than 90% of sales.

Ratos became a part owner of Hägglunds Drives in 2001 in conjunction with the buyout of Atle, becoming the sole owner of the business in 2004. Since the initial investment turnover has grown from SEK 892m to SEK 1.76bn, while EBITDA has increased from SEK 75m to SEK 360m.

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