PRESS RELEASE
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Stockholm, December 2, 2011 |
Etac and Maj Invest and minority owners have signed an agreement in which Etac acquires 100 percent of the shares in R82.
R82 is one of the world’s leading providers of aids for children and young people with special needs. R82 is based in Horsens, Denmark. Products include seating systems, walking- and standing aids, hygiene products and car seats. In 2010 R82’s turnover was DKK 236 million (SEK 290 million). R82 has subsidiaries in the United States, the United Kingdom, Germany, the Netherlands and the Czech Republic, as well as distribution partners all over the world.
Etac manufactures and sells aids that help people with their daily living routines regardless of their physical circumstances.Products include wheelchairs, hygiene products, patient lifts and power wheelchairs. Etac is headquartered in Stockholm, Sweden and has subsidiaries in Norway, Denmark, Sweden, Germany, the United Kingdom and the Netherlands. In 2010 Etac’s turnover was about SEK 1 billion (DKK 850 million).
“Etac has a long tradition of creating high quality aid products for adults”, says Peter Hentschel, Etac’s Chief Executive Officer. “The combination of Etac and R82 creates a strong player within the international market for aids for adults and children with special needs. Through this acquisition we look to benefit from R82’s excellent product portfolio, strong international presence, as well as the valuable skills and experience of its employees.”
“Etac is the ideal buyer of R82. With Etac as the new owner we have found the right industrial home where R82 has the best conditions for future development and growth”, says Jan Hove Sørensen, Partner at Maj Invest. Flemming Møller, one of the founders and shareholders of R82 continues by saying that “handing over the keys to Etac is a natural and logical extension of the partnership we have had with Etac for more than two decades”.
The companies know each other well as Etac has been R82’s sole distributor in Scandinavia since 2002. ”Etac and R82 are a perfect fit in terms of products and brands as both are known for making high quality products that have a positive impact on users’ lives”, says Torben Helbo, R82’s Chief Executive Officer. “We are looking forward to joining forces with Etac, working together to deliver a broader range of products to our customers and opening up even more opportunities for international expansion.”
The parties have agreed not to disclose the terms of the transaction. Etac’s acquisition of R82 is subject to the approval of competition authorities.
Jan Hove Sørensen Nora Förisdal Larssen Partner Chairman of the Board
Maj Invest A/S Etac AB
Please refer questions to:
Jan Hove Sørensen, Partner of Maj Invest A/S, +45 33 38 73 66
Nora Förisdal Larssen, Chairman of the Board, Etac AB, +46 70 665 6585
Torben Helbo, CEO of R82 A/S, + 45 79 68 58 88
Peter Hentschel, CEO of Etac AB, + 46 8 633 47 00