Group makes offer to buy Dometic
EQT V, a European private equity group, submitted an offer to acquire Dometic Group from a consortium of lenders, the board of directors and employees of Dometic Group.
The deal is worth an estimated 12 billion Swedish kronor (about $1.8 billion).
The deal is subject to approval by what is called an extraordinary general meeting of Dometic Group that is expected to be held within a few weeks. Group management of Dometic Group intends to reinvest 55 percent of the proceeds the transaction will generate.
"Dometic Group has a very strong market position and a competitive product range. EQT, together with Dometic Group employees and industrialists from the EQT network, will work to support the company's growth-oriented strategy by broadening the product offering, expanding the geographic footprint and continue to invest in the aftermarket. Growth will be EQT's focus," EQT V spokesman Johan Hähnel said in a statement.
Dometic Group was acquired in 2001 by EQT III from the Electrolux Group. EQT III sold Dometic in 2005.
