Alimak Hek
- Realisation
- Location: Sweden
- Sector: Engineering
- www.alimakhek.com
First investment
3i acquired its investment in Alimak Hek for £15m through the acquisition of Atle in April 2001.
Nature of business
A global leader in the manufacture and distribution of rack and pinion-based vertical access systems.
| Results to 31 December | 2005 (audited) SEKm |
|---|---|
| Sales | 1,192 |
| EBITDA | 117 |
| Net assets | 339 |
Developments since 3i invested
Revenue and EBITDA growth of 39% and 101% over the past year have been driven by organic growth and acquisitions. This and the company's US and Asian expansion, in which 3i has been particularly instrumental, placed Alimak in a market-leading position. In January 2007, the company was sold for £75m to Triton, and 3i realised £55m of profit, representing a money multiple of 4.5 times and an IRR of 33%.
Employment in the company grew from 855 in 2001 to 908 at the time of the sale.
| 3i Group plc’s return on investment as at 31 March |
2007 £m |
2006 £m |
|---|---|---|
| Cost | ||
| Equity and loan | n/a | 15 |
| Realised value | ||
| Equity and loan | 75 | n/a |
| Unrealised value | ||
| Equity and loan | n/a | 19 |
| Equity interest | 0% | 50% |
| Income in the year | 0 | 0 |