Solna, Sweden, February 24, 2015: Dometic Group has agreed to sell its Medical business to Navis Capital Partners (“Navis”). The agreement means that Navis will take over Dometic Group’s Medical business including one production plant and a global sales organization.
The divestment includes Medical’s manufacturing plant in Hosingen, Luxemburg, design and engineering resources, and related global sales and marketing organization. The Medical business had revenues of approximately 43 MEUR and around 160 employees in 2014, and it offers a competitive range of cooling and freezing products for transport and storage of vaccines, blood and pharmaceuticals. Products are marketed under the Dometic and Sibir brands.
“Medical is a high performing business with very competitive products, a strong organization and solid financial performance. A new owner putting full focus on the business will help further accelerating the positive development we have experienced during the last years” said Roger Johansson, President and CEO of Dometic Group. “Since synergies in distribution, manufacturing and sales between Medical and other businesses within the Dometic Group are limited, this divestment is in line with our strategy to put even more focus on our core business primarily targeting the Recreational Vehicle, Marine, Commercial and Passenger vehicle industries”.
The transaction is expected to be completed during the month of March 2015.
Dometic Group’s global revenue, on a rolling 12 months, after the divestiture will amount to approximately 9.6 BSEK and the number of employees will amount to around 7 000. Terms of the transaction were not disclosed.
For further information please contact:
President and CEO, Dometic Group
Tel: +46 8 501 025 00
About Dometic Group
Dometic Group is an innovator and trendsetter for people enjoying a comfortable, mobile lifestyle. We serve the market with a complete range of air conditioners, refrigerators, awnings, cookers, sanitation, portable coolers, lighting, mobile power equipment, windows, doors, minibars, safes and other products that make life away from home more comfortable.We offer delivery from manufacturing plants and warehouses located close to our customers with a global distribution and support network to take care of aftermarket service. Products are sold through multiple distribution channels and have a solid reputation, recognized for high quality and innovation.Dometic Group is the preferred development partner and equipment supplier to the Recreational Vehicle, Marine, Commercial and Passenger vehicle industries.
About Navis Capital Partners
Founded in 1998, Navis focuses on private and public equity investments primarily in and around Southeast Asia. Navis contributes both capital and management expertise to a limited number of well-positioned companies with the objective of directing strategic, operational and financial improvements. Navis has one of the largest private equity professional teams in Asia, comprising over 60 individuals, supported by over 30 administrative staff, in eight offices across the region.