Investment AB Latour (publ) has, through its business area Latour Industries, signed an agreement to acquire Aritco Group from a group of private investors through Credelity Capital.
Investment AB Latour is a mixed investment company consisting primarily of wholly-owned industrial operations and an investment portfolio of listed holdings in which Latour is the principal owner or one of the principal owners. The investment portfolio consists of ten substantial holdings with a market value of about SEK 36.5 billion. The wholly-owned industrial operations generated a turnover of approximately SEK 7.2 billion in 2015. Closing is expected in the end of May or beginning of June, 2016.
“I am very pleased to welcome Latour as our new owners. They are a long-term industrial owner that can support Aritco’s growth plan in both new products and new geographies. I would also like to thank Credelity Capital for their significant contribution in our journey”, says Tommy Löwbäck, CEO of Aritco Group.
“Aritco is a high-performing company that supplies lifts for people transport, both for the public market and private homes. We see a growing interest and a long-term need for lift solutions in homes, which improve the quality of life through increased flexibility and comfort. Aritco’s products are relatively easy to install in an existing building and have a significant growth potential, especially on an international level. We are looking forward to be part of their continued international expansion”, says Björn Lenander, CEO of Latour Industries. “We will continue to run Aritco as an independent company and we see that the company can leverage Latour’s broad experience from international expansion.”
Kungsängen, Stockholm, May 23rd, 2016
Aritco Lift AB
John Löwbäck, CEO
For further information, please contact:
John Löwbäck, CEO Aritco Lift AB, +46 70-422 45 84
David Schill, Marketing Director Aritco Lift AB, +46 73-501 93 42
Björn Lenander, CEO Latour Industries AB, +46 70-819 47 36
Aritco Lift is a world leading manufacturer of home lifts and platform lifts. Since the start of the company, over 30,000 lifts have been installed. Aritco Lift has over 140 partners in around 40 countries. Aritco Lift produces two types of lifts; Home lifts for the private residential market and platform lifts for the public accessibility market. Read more at www.aritco.com or www.aritcohomelifts.com