Ratos has entered into an agreement to divest airteam, one of the Nordic region's leading suppliers of technical ventilation solutions, to Nalka Invest. The purchase price (equity value) amounts to approximately SEK 1,700m (for 100% of the shares in the company), corresponding to an EV/EBITA multiple of around 10x. The divestment pertains to Ratos' entire holding in airteam, which amounts to 70% of the shares, and is another step in the previously announced streamlining of Ratos into a group focused on industrial and technological solutions.
"Today's announcement is an important step in Ratos' ongoing streamlining of the group, and the divestment is a natural step in the ongoing strategic review of the Construction & Services business area. airteam has performed well financially under Ratos' ownership, but ventilation solutions are not part of Ratos' core operations. I'm pleased that airteam gets a qualified and committed owner to support its continued journey, and that Ratos can continue to focus on technological development and industrial product solutions," says Jonas Wiström, President and CEO of Ratos.
Since Ratos acquired airteam in 2016, the company's sales have grown from SEK 768m to SEK 1 714m in 2024 while EBITA has increased from SEK 74m to SEK 160m.
Estimated financial impact on Ratos
Ratos will earn a capital gain of approximately SEK 390m on the sale and receive cash and cash equivalents of approximately SEK 1 200m. Final capital gain will be calculated on closing. Overall, this will give Ratos a stronger financial position, ensuring continued scope for value creation through investments and acquisitions in Ratos' core operations.
The transaction is subject to customary regulatory approval and is expected to be completed in the second quarter of 2025.
For further information:
Katarina Grönwall, VP Communication
+46 70 300 35 38, katarina.gronwall@ratos.com
Christian Johansson Gebauer, President Business Area Construction & Services
+46 8 700 17 00
Jonas Wiström, President and CEO
+46 8 700 17 00
This information is information that Ratos is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2025-03-18 20:40 CET.
About Ratos
Ratos is a Swedish business group focusing on technological and infrastructure solutions, consisting of 15 companies divided into three business areas: Construction & Services, Industry and Consumer. The companies have approximately SEK 32 billion in net sales 2024. We have a distinct corporate culture and strategy - everything we do is based on our core values: Simplicity, Speed in Execution and It's All About People. We enable independent subsidiaries to excel by being part of something larger. People, leadership, culture and values are key focus areas.
