STOCKHOLM, Sweden, May 27, 2002 (PRIMEZONE) -- EQT Northern Europe private equity fund has acquired the Finnish technology company VTI Hamlin Oy from Breed Technologies Inc. (U.S.).
VTI is a leader in design and production of acceleration, motion and pressure sensors with a turnover of approximately MEUR 60. The company is an established global leader and a quality supplier to a fast growing niche within the automotive industry. VTI's sensors are used in fast growing applications such as Electronic Stability Systems (ESP) and Electronically Controlled Suspension (ECS). VTI's wide expertise in motion measurement can also be used outside the automotive industry such as the medical industry, consumer electronics and high-end industrial instruments.
VTI produces accelerometer chips and accelerometers and has manufacturing facilities in Finland and Mexico. The head office and R&D are located in Finland.
"VTI Hamlin is a well established, high quality company in a fast growing niche market within automotive industry. The strong market position in the sensor market, combined with a substantial growth potential in industrial applications, enables EQT to significantly develop VTI's business in the future," said Mr. Andreas Tallberg, Senior Partner of EQT Partners, the investment advisor to the Fund.
For further information please contact:
Andreas Tallberg, Senior Partner, EQT Partners Oy + 358 9 6962 4711 Caroline Rosen, Partner, IR & Communications, EQT Partners AB +46 8 440 53 37
EQT is a group of private equity funds with equity commitments exceeding EUR 3 billion and is sponsored by Investor AB, the publicly listed holding company of the Wallenberg foundations. EQT Partners, acting as investment advisor to all EQT funds, has offices in Stockholm, Copenhagen, Helsinki and Munich. The business concept of EQT is realised by acquiring and developing high-quality medium sized companies in Northern Europe.EQT serves as an active owner and works in close cooperation with the management of the companies it acquires, to develop and implement value- enhancing strategies.
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