Magnus Agervald is still stuck as the ceo of Byggmax, but with the purchase of the Plantation are jumping the gun, he as the ceo of Ratos.
“It is, of course, so that Magnus has been involved”, says Lars Johansson, acting ceo of Ratos.
Ratos acquires trädgårdskedjan the Plantation of the private equity firm Apax Partners. The Swedish investment company to pay 1.3 billion Swedish kronor for the entire handelsträdgårdskedjan, that 13% is the largest individual player in the Nordic region.
Investeringschefen Lars Johansson is standing in anticipation of Magnus Agervald work of his notice period as managing director of the diy chain Byggmax.
Just Agervalds experience in retail is something Lars Johansson points to as a positive before the purchase of the Plantation.
“We think that it is a interesting timing, much to Magnus after the end of the year. He is one of those who is most clever in Sweden to get a retail chain to grow”, says Lars Johansson.
he Has been involved in this purchase?
“It is, of course, so that Magnus has been involved in this. We have asked him, of course.”
Ratos takes over a högbelånat companies. Net debt is 1.8 billion, which gives a leverage against the corporate value of 60%.
Stable cash flows to enable higher leverage, but that comparison is leverage in Byggmax less than 22 per cent of corporate value.
the Plantation has been quite high leverage. How will you finance to increase the growth?
“We have already initiated discussion with a number of large nordic banks and finance this, and we do not believe that this is an asset that is particularly difficult to finance,” says Lars Johansson.
Ratos can also take the purchase price directly out of your wallet, the custom checkout contained 1.7 billion at mid-year.
the Plantation are Ratos’s largest deal since the purchase of Aibel, who strongly contributed to ceo Susanna Campbell was kicked in June.
2012 paid for Ratos of sek 1.6 billion for a third of the Norwegian oljeservicebolaget, a purchase that in hindsight turned out to be at the absolute oljepristoppen.
since Then, Ratos had to both shoot to the money and lay off employees.
“It is clear that it is tough”, says Lars Johansson, who, however, claims that Ratos is a very active owner.
“I don’t know if I dare to say that it has been turned, but we take very radical measures to bring the company back to a position where it is competitive.”
But you do not want to say that now it goes up?
“It is difficult to speculate on the price of oil.”
Will the Plantation prove to be a better timed investment than Aibel?
“Yes, I really hope.”
the Latest in January, the Magnus Agervald take over the ceo seat at Ratos.
You will not chain fixed you at the desktop?
“No, it wont get the reverse effect. When I find both myself and the desktop on the street, I think,” says Lars Johansson.
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