Etac makes significant acquisition
- Etac acquires Danish company R82
- Nordstjernan increases its holding in Etac from 60 to 100 percent
- The Etac Group will generate sales of about SEK 1.3 billion and have about 800 employees
Etac has signed an agreement to purchase 100 percent of the shares in the Danish company R82. Meanwhile, Nordstjernan has signed an agreement to acquire RFSU’s stake in Etac, corresponding to 40 percent of the shares in Etac. R82 will be run as an independent business area in the Etac Group. Following the merger, the Etac Group will generate sales of about SEK 1.3 billion and have about 800 employees.
Etac is one of the leading Nordic manufacturers and distributors of aids for people with special needs. Etac also supplies products and services to hospitals and retirement homes. In 2010, Etac generated sales of about SEK 1 billion. Etac has subsidiaries in Norway, Denmark, the UK, Germany and the Netherlands. Further information on Etac is available at www.etac.com.
R82 is one of the world’s leading producers of aids for children and young people with special needs. R82 manufactures and sells products such as wheelchairs, walking and standing aids, hygiene products and car seats. In 2010, R82 generated sales of DKK 236 million (about SEK 290 million). R82 has subsidiaries in the US, the UK, Germany, the Netherlands and the Czech Republic, as well as distribution partners worldwide. Further information on R82 is available at www.r82.com.
Prior to today’s transaction, R82 was largely owned by Maj Invest, a Danish private-equity company, and Flemming Møller, one of R82’s founders.
“R82 is a well-managed company with a strong position in the market for aids for children and we believe that the company fits well into Etac’s strategy. These two transactions make Etac a considerably larger holding for Nordstjernan,” says Tomas Billing, President and CEO of Nordstjernan.
“Selling R82 to Etac seems natural considering that Etac is one of R82’s largest customers,” says Jan Hove Sørensen, Partner at Maj Invest. “We believe that Etac’s acquisition of R82 will open up new opportunities for R82 in the international aid market.”
The parties have agreed to not disclose the terms and conditions of the transactions.
Etac’s acquisition of R82 is subject to the approval of competition authorities.
Questions will be answered by:
Tomas Billing, CEO of Nordstjernan AB, +46 8 788 50 00
Nordstjernan is a family-controlled investment company that creates value growth through long-term and active ownership of Nordic companies. More information on Nordstjernan can be found at www.nordstjernan.se