STOCKHOLM--(BUSINESS WIRE)--Regulatory News:
On September 23, 2015, Patricia Industries’, a division within Investor (STO:INVEA) (STO:INVEB) (LSE:INU), acquisition of the U.S. family-owned company BraunAbility was announced.
Following approval by the competition authorities, this acquisition has now been completed.
The enterprise value amounts to USD 425 m. In 2014, sales and EBITDA amounted to USD 415 m. and USD 37 m. respectively. Since 2010, annual sales growth has averaged 10 percent.
Patricia Industries has injected USD 315 m. in equity financing for 90 percent ownership of the company. The remainder of the acquisition has been financed by external debt and equity participation by the board, management and other key individuals.
BraunAbility will be reported as a wholly-owned company within Patricia Industries.
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Investor, founded by the Wallenberg family a hundred years ago, is the leading owner of high quality Nordic-based international companies. Through board participation, our industrial experience, network and financial strength, we strive to make our companies best-in-class. Our holdings include, among others, Atlas Copco, SEB, ABB, Ericsson and Mölnlycke Health Care.
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