Contex A/S CEO, Aage Snorgaard, has announced that Contex Group A/S, a subsidiary of Ratos AB, has signed an agreement to sell Contex A/S to the Nordic focused private equity fund Procuritas Capital Investors V (Procuritas). The transaction is expected to be completed at the beginning of January 2013.
"For us, this change of ownership marks the beginning of the next phase in the development of Contex A/S and our strategy to bring innovative scanning solutions to customers, remain a premium brand with a superior offering, and to grow our market presence even further.
"Our new owners are focused on companies with a strong position in their respective markets and potential for accelerated growth and operational improvements. From management’s perspective Procuritas is an ideal new owner to help us in achieving our ambitions and implement our strategy for the future. We look very much forward to working together with our new owners and executing our strategy.
"The transfer of ownership within the next couple of months will not change our daily operations, our structure, or our management, nor will it change our strategic direction. We look forward to maintaining our good relationships with customers, channels and business partners going forward," says Snorgaard.