News. 26/01/04

Thermia AB changes owners

Press Release, Stockholm and Arvika

Procuritas Capital Investors III acquires all of the shares in the Swedish manufacturer of heating products Thermia AB. The company has a turnover of 460 MSEK and is a leading manufacturer of heat pumps and boilers, with production in Arvika, Sweden, and Saarijärvi, Finland.

Thermia has a strong position within its various markets. Thermia is a leading producer of heat pumps and boilers for private homes and commercial buildíngs in the Nordic region, and has started a European expansion.

– We are impressed by the fast growth and increased profitability the company has shown the last couple of years, as well as the high technical standard of the products the company offers. We aim to continue the fast expansion internationally and strengthen the market positions in both Sweden and Finland, the company’s main markets, says Hans Wikse, Director, Procuritas Partners KB, advisor to Procuritas Capital Investors III.

Thermia AB, with 330 employees, has production of heat pumps in Arvika, Sweden, and boilers and burners in Saarijärvi, Finland.

– It is good for us to get as strong owner, with a long-term perspective, as Procuritas Capital Investors III, which is prepared to continue to support the company. The resources and the competence that our new owner can provide us with will give us the possibility to continue to improve our market position and continue our growth, says Mats Bergsjö, CEO of Thermia.

Procuritas Capital Investors III acquires all of the shares in Thermia. The previous owners include Industrifonden, Arbustum Invest and Componenta Oy.

– We view the future of Thermia very favourably. With Procuritas Capital Investors III as the owner, the company will be in a good position to continue its strong development and international expansion, says Lars Öjefors, CEO of Industrifonden.

Procuritas Capital Investors III is a private equity fund focused on mid-sized companies in the Nordic region. The Fund’s investors include, among others, Nordea Liv, Sampo and Statoil. The fund is advised by Procuritas Partners KB.

For questions, please contact:

Thermia’s CEO Mats Bergsjö, tel. +46 70 248 13 87, or
Procuritas Capital Investors III, Peter Toyberg, tel. +45 33 91 87 00

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