Etac acquires Molift
Etac AB (“Etac”), a company in which Nordstjernan Investment AB (“Nordstjernan”) holds a 60-percent ownership interest, is acquiring 100 percent of the shares in the Norwegian company Molift Group AS (“Molift”) from the current owners Katalysator AS and the company’s management.
Molift manufactures and sells products for patient lifting under the Molift brand. Molift is active through own companies in Norway and through distributors outside Norway. The company had sales of NOK 130 million in 2009, with 60 employees. The company has a production facility in Gjøvik, Norway. Additional information on Molift is available on the company’s website, www.molift.no.
Etac manufactures and sells equipment that facilitates the everyday life of people with impaired mobility. Etac offers a wide range of equipment, including manual and electrically powered wheelchairs, walkers and home-care and pressure-relieving products. The company had sales of SEK 1,091 million in 2009, with 550 employees. Etac has production facilities in Anderstorp, Sweden, and Hønefoss, Norway. Nordstjernan owns 60 percent of Etac and RFSU owns 40 percent. Additional information on Etac is available on the company’s website, www.etac.com.
“Molift is a company with talented employees, a strong brand and an innovative product range. The acquisition represents a strengthening of Etac’s product range in the area of mechanical lifting products and we look forward to further developing this area,” says Terje Berntzen, President of Etac.
Takeover of the shares is scheduled to occur on November 10, 2010. The parties have agreed not to disclose the purchase consideration.
Questions will be answered by:
Nora Larssen, Chairman of the Board of Etac and Senior Investment Manager at Nordstjernan, +46 70 665 65 85.
Terje Berntzen, President of Etac, +47 91 35 31 28.
Nordstjernan is a family-controlled investment company that creates growth in value through long-term and active ownership of Nordic companies. More information on Nordstjernan can be found on www.nordstjernan.se.
RFSU is a non-profit organization for sexual education and lobbying in the field of sexual policy that has been active since 1933. Additional information on RFSU is available on the website www.rfsu.org.
Etac develops and sells a wide range of functional products designed for people with impaired mobility. The company has been active in this sector for about 40 years and had sales of SEK 1,091 million in 2009, with 550 employees. It has subsidiaries in Sweden, Norway, Denmark, Germany, the United Kingdom and the Netherlands. Additional information on Etac is available on the company’s website, www.etac.com.