Axcel to buy Trelleborg's roofing activities

ERJ staff report (DS)

Stockholm, Sweden -- Trelleborg AB is to sell its roofing activities to Axcel, a Nordic private equity fund for about euro 70 million.

The business to be divested comprises polymer and bitumen-based products for sealing and waterproofing applications for industry and consumers. The business includes such brands as Mataki, Trebolit, Trelleborg Phønix, Hetag Tagmaterialer and Prelasti. It currently operates as part of Trelleborg's Engineered Systems business area.

The divested part has annual sales of approximately SEK 900 M and the operation has about 230 employees. About 85 percent of sales take place in Sweden and Denmark. Production is conducted at three locations in Sweden and Denmark.

The acquisition requires approval of the appropriate authorities, and is expected to be finalised in the first quarter of 2011.

“This divestment is a further step in our strategy to focus on selected segments,” says Peter Nilsson, President and CEO of Trelleborg. “The business we are divesting is now ready to be taken to the next level and we are prioritising ventures in other areas. Through the divestment, we are freeing up capital and creating flexibility.”

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Press release from Trelleborg