Dometic completes acquisition of remaining parts of Electrolux Leisure Appliances

Dometic Appliances AB (“Dometic”) has successfully completed the acquisition of Electrolux Leisure Appliances’ (“Leisure”) operations in Germany and Slovakia, backed by funds coming from the EQT Northern Europe private equity fund. The acquisition follows EQT Northern Europe’s purchase of the major part of Leisure in July 2001.

The businesses in Germany and Slovakia operate five manufacturing facilities and had external sales of approximately SEK 1,300m in year 2001 and about 1,400 employees. Pro-forma, including Germany and Slovakia, Dometic reported sales of approximately SEK 5,700m in year 2001 and employs in total about 3,600 employees.

Sven Stork, CEO of Dometic, comments on the transaction: “I am very pleased with completing the acquisition. By including the German and Slovakian business, Dometic will be able to operate as a united group and further benefit from the attractive growth prospects in the market for leisure appliances.”

Dometic is the world market leader in absorption refrigerators for recreational vehicles, hotel rooms, and medical applications. The company is also a world market leader in air conditioners and awnings for recreational vehicles. Dometic has production facilities in Sweden, Germany, Hungary, Italy, Luxembourg, Mexico, Slovakia, South Africa, Canada and the USA. Dometic has own sales and marketing operations in 30 countries and approximately 85 distributors around the world.

EQT is a group of private equity funds with equity commitments exceeding EUR 3 billion. Since its inception in 1994, EQT has successfully concluded investments in 26 companies and made 6 exits. EQT Partners, acting as investment advisor to all EQT funds, has offices in Stockholm, Copenhagen, Helsinki and Munich. EQT realises its business concept by acquiring and developing high-quality medium sized companies in Northern Europe and serves as an active owner and works in close co-operation with the management of the companies it acquires, to develop and implement value-enhancing strategies.

For further information, please contact:

Mr. Sven Stork
CEO, Dometic Appliances AB
Phone: + 41-52-720 66 44

Mr. Svend Holst-Nielsen
Chairman, Dometic Appliances AB
Phone: + 46-8-440 53 00

Mr. Håkan Johansson
Senior Partner, EQT Partners AB
Phone: + 46-8-440 53 00

EQT logo