EQT to sell Contex to RatosEQT Danmark and other investors have agreed to sell Contex Holding, a developer, manufacturer and supplier of 2D and 3D digital imaging solutions, to Ratos for approximately $240m. Ratos is acquiring 100 per cent of the Allerød, Denmark-headquartered company.
Ratos is investing approximately SEK600m (approximately $90m) in equity. Senior executives at Contex will be offered to co-invest alongside Ratos, the firm said.
EQT acquired Contex in 1999 in a public-to-private transaction.
EQT partner Peter Korsholm said, 'During EQT's ownership, Contex Group has developed significantly through a combination of acquisitions and high organic growth rates, which has resulted in the company's revenues increasing fivefold from $25m in 1999 to $122m in 2006.
'During the spring of 2007, Contex Group developed a new five-year strategy plan outlining the future direction of the company, and we see Ratos's ownership as a natural step in the company's further development,' Korsholm continued.
EQT manages funds with activities in buy-outs and mezzanine finance.
Ratos is a listed private equity company.
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Private Equity News» By News Type» Deal News
Private Equity News» By Region» Europe» Western Europe» Denmark
