Ratos: Contex A/S sold to Procuritas

2012-11-30

This information is disclosed in accordance with the Securities Markets Act, the
    Financial Instruments Trading Act or demands made in the exchange rules.

Ratos's subsidiary Contex Group has signed an agreement to sell Contex A/S to
the private equity fund Procuritas (Procuritas Capital Investors V LP). The
selling price (enterprise value) amounts to USD 41.5m. In conjunction with
completion of the deal Contex Group will be wound up and a dividend paid whereby
Ratos will receive approximately SEK 175m. The exit result in Ratos is expected
to amount to approximately SEK -125m.
The Danish company Contex A/S is the world's largest manufacturer of large-
format 2D scanners. Contex sells both under its own brand and as an OEM supplier
to HP, among others.
In 2011 Contex A/S's sales totalled USD 46.1m and operating profit (EBITA)
adjusted for costs affecting comparability amounted to USD 4.9m. Ratos acquired
Contex Group in 2007 when the company consisted of three subsidiaries: Contex
A/S, Z Corporation and Vidar Systems. The two latter companies were sold to the
American company 3D Systems in 2011.
Ratos CEO, Susanna Campbell, comments: "We acquired Contex at the height of the
boom in 2007 and the financial crisis with the subsequent recession
unfortunately meant that Contex Group became a bad investment for us.
Operationally we are still pleased since the company's management has achieved a
fantastic turnaround and due to our continued investment in research and
development, new products were launched in the market which contributed to
today's good earnings and market position. The company is now ready for its next
journey and we have therefore decided to sell."
The selling price (enterprise value) amounts to USD 41.5m. Once the sale is
completed, Contex Group will be wound up and a dividend of the remaining assets
in the company (approximately SEK 175m) will be paid. The exit result in Ratos
is expected to amount to approximately SEK -125m, calculated on the book value
of Contex Group at 30 September 2012. The final exit result will be affected,
among other things, by earnings from Contex A/S during the period until
completion of the deal. Average annual return (IRR) on the total investment in
Contex Group has been -16%. The sale is expected to be completed at the
beginning of January 2013. Ratos's holding in Contex Group is 99.6%.
For further information, please contact:
Susanna Campbell, CEO Ratos, +46 8 700 17 00
Emma Rheborg, Head of Corporate Communications and IR, +46 8 700 17 20
 Financial calendar from Ratos:
 Year-end report 2012                       15 February 2013
 Annual General Meeting 2013                17 April 2013
 Interim Report January - March 2013        8 May 2013
 Interim Report January - June 2013         15 August 2013
 Interim Report January - September 2013    8 November 2013

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, Arcus-Gruppen, Biolin
Scientific, Bisnode, Contex Group, DIAB, Euromaint, Finnkino, GS-Hydro, Hafa
Bathroom Group, HL Display, Inwido, Jøtul, KVD Kvarndammen, Mobile Climate
Control, SB Seating and Stofa. Ratos is listed on Nasdaq OMX Stockholm and
market capitalisation amounts to approximately SEK 21 billion.