STOCKHOLM, Sweden, July 11, 2005 (PRIMEZONE) -- EQT sells ADR-Haanpaa to Pamplona Capital Partners I
EQT Finland B.V. (``EQT") and the Haanpaa family have signed and closed the sale of ADR-Haanpaa Oy to Pamplona Capital Partners I, LP. ADR-Haanpaa is the leading road transportation and logistics services company for liquid chemicals in the Nordic region.
Since 1999, when EQT acquired a majority stake in ADR-Haanpaa Oy from the Haanpaa family, ADR-Haanpaa has strengthened and professionalized its organization, and expanded its service offering and geographic presence. Under EQT's ownership the company has grown, organically and through acquisitions, from EUR 71 M in sales in 1999 to EUR 128 M (pro forma) in 2004.
Today, ADR-Haanpaa is a total logistics service provider with more than 500 trucks and 900 employees. The company has a market-leading position and serves all blue chip companies in the chemicals industry, and pulp and paper industry, in the Nordic region.
Juha Lindfors, partner at EQT Partners, comments: ``During our ownership period we have developed the company from a family-owned business into a professionally managed company with an industry leading market position, quality standards and service offering. We believe it is now the right time for a new owner to take the company further."
Lasse Paitsola, CEO of ADR-Haanpaa, comments: ``After ADR-Haanpaa's strong development with EQT as the majority owner, I am convinced that the company is well-positioned to expand its service offering and geographical presence further together with Pamplona Capital Partners." Cazenove acted as financial advisor to EQT.
Contact EQT: Juha Lindfors, Partner, +358 (0) 9 696 24 70, juha.lindfors@eqt.fi Johan Hahnel, Director Communications & PR, + 46 706 056 334, johan.hahnel@eqt.se Contact ADR-Haanpaa Oy: Lasse Paitsola, CEO, +358 (0) 20 754 81 00
EQT is a group of private equity funds that manages approximately 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. EQT realizes its business concept 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, in order to develop and implement value-enhancing strategies. To date, EQT has invested in 39 companies with a combined enterprise value of approximately EUR 13 billion.
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