News. 20/06/11

Management acquires Ariterm Group

Portfolio Press Release, Kalmar

The Ariterm Group has been acquired in a management led buy‐out from Procuritas Capital Investors III. Ariterm Group is the leading Nordic supplier of bio mass heating systems for both domestic and commercial applications.

“We have a strong belief in the future of bio mass heating as being one of the true renewable and sustainable energy sources, and are convinced that bio mass will be one of the corner stones in the European energy supply in the coming years”, says Mats Bergsjö, CEO of Ariterm Group. “With the present development of oil and electricity prices we expect a strong bio mass volume increase for many years.”

Ariterm Group is divided into two strategic areas – Commercial Bio Heating, with Ariterm Oy as responsible business unit and Domestic Bio Heating with Ariterm Sweden AB as responsible. The CEO for the Group, together with the respective Managing Directors, is forming the MBO‐team buying the company – Mats Bergsjö, Petteri Korpioja and Staffan Lundegårdh.

“The commercial segment is growing rapidly presently”, says Petteri Korpioja, Managing Director of Ariterm Oy, “and we see a heavily increasing interest from the market. We are market leaders in Finland and have a strong position in Sweden and Norway, which in combination with our export growth in Europe forms the base for a continued strong growth. Pellets, wood chips or other solid fuels will be strong alternatives when the European climate goals have to be reached.”

“Since we offer both pellets boiler systems for domestic heating and pellets stoves for complementary heating we sense a strong interest from the market all over Europe for consumers looking for both environmental friendly and cost efficient solutions”, says Staffan Lundegårdh, Managing Director of Ariterm Sweden AB, “and with an extensive and growing distribution network and a well positioned product portfolio we are prepared to gain from the fast growing European bio mass market.”

The discussions between Procuritas and the management have been open and positive which made it possible to reach an agreement on the MBO.

“The management has shown such commitment and strong wish to develop Ariterm Group further, that we saw it as a logical next step in the ownership of the company”, says Hans Wikse, responsible Procuritas partner. “The professionalism and enthusiasm of the management will ensure a continued good development of Ariterm Group.”

Ariterm Group will continue to operate following the present strategy aiming for continued growth taking an important part in making Europe renewable.

For further information please contact:

Mats Bergsjö, CEO Ariterm Group, Tel: +46 70 248 1387
Hans Wikse, Managing Partner Procuritas, Tel: +46 70 861 2377

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