MCC acquires Carrier's bus AC operations in North America

2011-03-22

Ratos's subsidiary Mobile Climate Control (MCC) is acquiring Carrier's bus air
conditioning operationsin the U.S. and Canadafor a purchase price (Enterprise
Value) of USD 32.1m (approximately SEK200m). In conjunction with the acquisition
Ratos will provide capital corresponding to approximately SEK115m.

Mobile Climate Control (MCC) offers complete, customised climate comfort systems
for three main customer segments: buses, off-road and military vehicles.
Approximately75% of the company's sales take place in North America and 25% in
Europe. The main production plants are in Toronto (Canada), Goshen (USA),
Norrtälje (Sweden) and Wroclaw (Poland).
The acquired business manufactures air conditioning equipment for city- ,
intercity- and school buses. Today these operations are part of the U.S. based
Carrier Corporation, which is a business unit of United Technologies
Corporation. The acquisition will take the form of an asset deal and the
acquired operations' production will be integrated with MCC's North American
business. MCC will take over some 50 employees as a result of this transaction.
The operations posted sales of USD 63.5m in 2010.
"MCC already has a strong position within heating for the bus segment in North
America. This acquisition will also give MCC a leading position within cooling
(air conditioning) making the company a complete supplier of heating/cooling
systems to bus producers. We see major opportunities for economies of scale and
synergies with MCC's existing operations in North America," says Ratos's CEO
Arne Karlsson.
The purchase price (Enterprise Value) amounts to USD 32.1m (approximately SEK
200m) and Ratos will provide capital in conjunction with the acquisition
corresponding to approximately SEK 115m.The acquisition is expected to be
completed during the second quarter of 2011.
Ratos's holding in MCC amounts to 100%.
For further information, please contact:
Arne Karlsson, CEO Ratos,                                    +46 8 700 17 00
Clas Gunneberg, CEO MCC,                                     +46 8 402 21 41
Emma Rheborg, Head of Corporate Communications and IR Ratos, +46 8 700 17 20


Financial calendar from Ratos:
Annual General Meeting 2011             5 April 2011
Interim Report January - March 2011     5 May 2011
Interim Report 2011 January - June 2011 19 August
Interim Report January - September 2011 9 November 2011

Ratos is a private equity conglomerate. The company's mission is to maximise
shareholder value over time through the professional, active and responsible
exercise of its ownership role in primarily medium to large unlisted Nordic
companies. Ratos's holdings include AH Industries, Anticimex, Arcus-Gruppen,
Biolin Scientific, Bisnode, Contex, DIAB, EuroMaint, GS-Hydro, Hafa Bathroom
Group, HL Display, Inwido, Jøtul, KVD Kvarndammen, Lindab, Medisize, Mobile
Climate Control, SB Seating, Stofa and Other holdings. Ratos is listed on NASDAQ
OMX Stockholm and market capitalisation amounts to approximately SEK 38 billion.