RFSU and Nordstjernan form long-term partnership for Etac
RFSU and Nordstjernan have signed an agreement by which Nordstjernan will purchase 60 percent of the shares in Etac. The parties have agreed to continue developing Etac over the long term with the goal of furthering the company’s success.
Etac develops, manufactures and sells aids that make daily life easier for persons with impaired mobility. Etac has a broad range of aids for both young and elderly persons that includes manual and electric wheelchairs, walkers, home-care products and pressure relief products. During 2006, the company will report sales of about SEK 800 million. Additional information about Etac is available on the company’s website at www.etac.se.
“RFSU has sought a long-term partner for further development of Etac. With Nordstjernan, we have found a very long-term owner for Etac and a business partner for RFSU,” says Lena Lennerhed, National Chairperson of RFSU.
“Etac is an exciting company that is well suited to Nordstjernan’s investment strategy.
The company has shown favorable growth and profitability. We see substantial potential for continued growth and development of Etac,” says Tomas Billing, President of Nordstjernan.
“Etac is active in an attractive sector, and with RFSU/Nordstjernan as owners, there are
opportunities and a capital base for accelerated growth in the future. I am convinced that this
is the right solution for Etac,” says Terje Berntzen, President of Etac.
The parties have agreed not to disclose the purchase price. The acquisition is subject to approval by the competition authorities.