Ratos Divests airteam in Strategic Streamlining

Ratos, a prominent Swedish private equity firm, has announced its decision to divest its entire 70% holding in airteam, a leading Nordic provider of technical ventilation solutions, to Nalka Invest. This strategic move aligns with Ratos's ongoing shift toward focusing on industrial and technological solutions, marking a significant step in its streamlining efforts. The sale has been agreed at a total purchase price of approximately SEK 1,700 million, translating to an enterprise value to EBITA multiple of around 10x. Under Ratos’s ownership since 2016, airteam has shown substantial financial growth, with sales rising from SEK 768 million to SEK 1,714 million in 2024, and EBITA doubling from SEK 74 million to SEK 160 million. The transaction is expected to strengthen Ratos's financial position, contributing a capital gain of approximately SEK 390 million and cash inflows of roughly SEK 1,200 million. The transaction, pending regulatory approval, is slated for completion in the second quarter of 2025. Ratos's President and CEO, Jonas Wiström, highlighted that while airteam has performed well financially, it falls outside Ratos's core focus. This divestment enables Ratos to concentrate on technological development and industrial product solutions. The ongoing strategic review indicates further alignments in Ratos's Construction & Services business area. The announcement underscores Ratos's commitment to value creation through targeted investments and acquisitions within its core operational areas.