Altor acquires Q-matic
Altor Fund II (“Altor”) has entered into an agreement to acquire Q-matic, the world market leader in providing queue management solutions, from 3i Group Plc, Litorina Kapital and the founding families.
Q-matic develops, manufactures and markets complete systems for queue management solutions. The systems are primarily sold to the public sector, healthcare institutions, financial institutions and retailers. Q-matic is expected to generate revenues of SEK 400 million for the year ending 31-August-2007 with a vast majority of sales being generated outside of Scandinavia.
“We are eager to continue developing Q-matic together with a professional owner by expanding into new markets and customer segments. We are present in an industry with solid growth prospects across geographies for several years to come’’, says Åke Stråberg, CEO of Q-matic.
“We see Q-matic as an excellent platform for a continued international expansion and look forward to further develop the business into a truly multinational company within queue management solutions”, says Fredrik Strömholm, partner at Altor Equity Partners AB.
“Åke Stråberg has built an impressive management team and we truly look forward to support the company in its further product, service and market development”, says Andreas Hiller, director at Altor Equity Partners AB.
Q-matic’s systems are currently sold in 102 countries globally through 9 subsidiaries and 52 distributors and the company employs approximately 200 employees. The company has consistently focused significant internal resources and capital into product development at the R&D department in Mölndal, and Q-matic is currently in the process of rolling out a new product line of queue management solutions software and hardware.
Q-matic was founded in 1981 with the headquarters placed in Mölndal, Sweden. The company’s subsidiaries are located in USA/Canada, China, Denmark France, Italy, Mexico, the Netherlands, Sweden and the UK. Since its inception, Q-matic has installed more than 25,000 queuing systems globally within the public sector, healthcare institutions, financial institutions and retail chains. For further information on Q-matic please visit: www.q-matic.com
The Altor funds (Altor) are private equity funds comprising the “Altor 2003 Fund”, with committed capital of EUR 650 million, and the “Altor Fund II”, with committed capital of EUR 1,150 million. Altor is advised by Altor Equity Partners. Altor invests in medium sized companies in the Nordic region with a focus on value creation through growth initiatives, strategic development and operational improvements. Among Altor’s investments are Lindorff, AGR Group (listed on the Oslo stock exchange), Relacom, Ferrosan, Meyn, Aalborg Industries, PaloDEx, Navico, Byggmax, Nimbus Boats, SPT Group, PIAB, Dustin, Helly Hansen, Dansk Cater and Wrist Group. Prior investments include ACO and Dynapac.