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 EQTs 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, FlexLinks CEO, stated, "After FlexLinks strong development during EQTs 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: mats.nilsson@flexlink.com. 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.
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