FlexLink AB Acquired by ABN AMRO Capital
FlexLink AB, a global leader in factory automation systems for the fast moving consumer goods, pharmaceutical, automotive, electronics and telecom sectors, announces its acquisition by ABN AMRO Capital, one of Europe's leading private equity providers.
Göteborg, Sweden (PRWEB) May 6, 2005 -- FlexLink AB, a global leader in
factory automation systems for the fast moving consumer goods, pharmaceutical,
automotive, electronics and telecom sectors, announces its acquisition by ABN
AMRO Capital, one of Europe's leading private equity providers. FlexLink was
acquired via a management buy-out from EQT, the private equity funds group that
had originally acquired a 90% interest in FlexLink from AB SKF in 1997.
Under EQT’s ownership, FlexLink underwent comprehensive development, which
resulted in FlexLink becoming a leading supplier of industrial automation
equipment to production facilities in the global manufacturing and assembly
industry. FlexLink today has a large and well-diversified customer base and has
developed from a supplier of components to offering complete automation
solutions for production processes.
FlexLink, founded in 1980, has 540
employees, with head office in Göteborg and business activities in 50 countries,
including its own sales offices in 21 countries. In 2004 FlexLink achieved
EBITDA of EUR 18 million in 2004 on turnover of EUR 125 million.
Johan
Bjurström, Nordic Head of ABN AMRO Capital, said the company had prospered under
its previous ownership but had further potential for geographic growth and to
lead consolidation in its sector - key investment criteria for ABN AMRO Capital.
"FlexLink is well positioned for future growth, as factory automation systems
continue to develop in sophistication in response to the increased use of
robotics and the growing need for flexibility in manufacturing," he said.
Fredrik Jönsson, FlexLink’s CEO, stated, "After FlexLink’s strong
development during EQT’s time as an owner, I am convinced that with ABN AMRO
Capital as new owners we will have the best possible preconditions to continue
our growth during the coming years. We have built a platform for continued
strong growth consisting of a leading range of products for the global
market."
ABN AMRO Capital is the global private equity business of ABN
AMRO, with teams operating in 10 countries worldwide including the Netherlands,
UK, France, Spain, Italy, Sweden and Australia.
Netherlands-based ABN
AMRO is a leading international bank with total assets of EUR 608.6 bln (as at
31 December 2004). It has over 3,000 branches in more than 60 countries and
territories, and has a staff of about 100,000 full-time equivalents worldwide.
ABN AMRO is listed on the Euronext and New York stock exchanges.
EQT is a
group of private equity funds that manages just below EUR 6 billion in equity in
7 funds. EQT Partners, acting as investment advisor to all EQT funds, has
offices in Stockholm, Copenhagen, Helsinki, Frankfurt and Munich. In total EQT
has invested in 37 companies, with a combined enterprise value of approximately
EUR 13 billion.
For more information, visit www.flexlink.com; or contact
Mats Nilsson, Corporate Communications, Tel. +46-(0)31-337 12 20, E-mail: e-mail
protected from spam bots. In the United States, contact Paul Jarossy, Marketing
Manager, at FlexLink Systems, 6580 Snowdrift Road. Allentown, PA 18106, tel.
+1.610.973-8200, fax +1.610.973-8345.
# # #
Source : http://www.prweb.com/releases/2005/5/prweb236974.htm