Investment firm Ratos has signed an agreement to sell 100% of the shares in its subsidiary Euromaint, Sweden's rolling-stock maintenance company, to SSVP for Skr650m ($72.8m).
Mid-market private equity fund SSVP is advised by Orlando Management.
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Commenting on the sale, Ratos acting CEO Lars Johansson said: "Euromaint's ability to deliver high-quality services has strengthened the company's position in the market for train maintenance.
"Ratos has owned Euromaint since 2007, and we believe that now is a good time for a new owner to take over."
Euromaint was acquired by Ratos in 2007 due to the ongoing deregulation of the train operator market.
The transaction is expected to be completed in the fourth quarter of this year.
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By GlobalDataThe company provides rail maintenance services for Sweden's fleets, including Arlanda Express, X2000 and Stockholm commuter trains.
Euromaint has annual sales of around Skr1.6bn ($179m). In December last year, the company sold its German operations to Iberia Industry Capital Group Sarl in a bid to streamline operations.
The maintenance company took this decision to focus on the core business in Sweden.
Due to project delays and low volumes, Euromaint’s German operation experienced difficulties for several years and had a negative earnings balance in 2015. The sale was completed in the first quarter of this year.
