Nordic Business Report-September 1, 2006-Lindab Group acquires UK ventilation firm CCL Veloduct Ltd
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The Swedish private equity company Ratos AB said on Friday (1 September) that its 48%-owned portfolio company, the steel and sheet metal solutions provider Lindab Group, has agreed to acquire the United Kingdom based ventilation company CCL Veloduct Ltd.
The purchase price is GBP27m.
CCL Veloduct supplies products and services for air-duct systems and air movement. The company has 265 employees and annual sales of GBP39m.
"This acquisition represents a further step in Lindab's strategy to accelerate growth in the circular duct business outside of the Nordic countries. Lindab is the market leader in Western Europe and the Nordic region, and will now reach that position in the important UK market as well," said Kjell Akesson, CEO of Lindab.
Lindab plans to integrate the acquired operations with its UK unit Lindab Ltd.
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