NOT FOR RELEASE IN OR INTO AUSTRALIA, CANADA, JAPAN, HONG KONG, NEW ZEALAND, SOUTH AFRICA OR THE UNITED STATES.
This information is in accordance with the Swedish Securities Market Act, the Swedish Financial Instruments Trading Act and/or the regulations of NASDAQ OMX Stockholm. This information was submitted for publication on 28 February, 2014, at 07.00 CET.
PRESS RELEASE, Värnamo 28 February, 2014
Exercise of over-allotment option in relation to Bufab Holding AB
Further to the announcement by Bufab Holding AB (publ) ("Bufab" or the "Company") on 21 February 2014, Bufab today confirms that, in connection with its initial public offering, Handelsbanken Capital Markets, acting as stabilization manager, has exercised the over-allotment option in full in respect of 3,607,173 shares in Bufab.
Following the exercise of the over-allotment option, Nordic Capital Fund V[1] will hold 7,627,620 shares of Bufab, representing approximately 20 per cent of the total number of shares in the Company.
For additional information, please contact:
Boel Sundvall, Director of Communication and Investor Relations
ir@bufab.com, tel: +46 370 69 69 61
About Bufab
Bufab is a trading company that delivers components and services to the global manufacturing industry. The Company has a strong focus on so called C-Parts, such as nuts, screws, washers and other components that the Company's customers view as non-strategic. Bufab's customer offering, Global Parts Productivity, aims to improve the productivity of the customer's value chain of C-Parts, with special focus on assortment management and sourcing. The Company is currently conducting operations in Sweden, Norway, Finland, Denmark, United Kingdom, the United States, France, Italy, Spain, Turkey, Poland, Russia, Hungary, Estonia, Rumania, Slovakia, Germany, Austria, the Netherlands, Czech Republic, China, India and Taiwan, from which the Company also exports to a number of other countries.
During the last ten years, Bufab has reported an average net sales growth of 7 per cent, of which the organic growth amounted to approximately 4 per cent, and during the corresponding period the Company has reported an average operating margin of 11 per cent, adjusted for non-recurring items.[2] In 2013, Bufab's net sales amounted to MSEK 2,031 and the operating profit amounted to MSEK 201. The Company's headquarter is situated in Värnamo and Bufab has approximately 770 employees, who are mainly active within sales, sourcing, quality, logistics and in-house manufacturing.
The Company has a diversified customer base in several geographies and industry segments within the manufacturing industry. As a complement to the trading business, the Company also conducts particularly demanding technical manufacturing of C-Parts in-house at two plants in Sweden.
The shares in Bufab are admitted to trading on NASDAQ OMX Stockholm under the symbol "BUFAB".
For more information about Bufab and its products, please visit www.bufab.com.
Important information
This announcement is not an offer to sell or a solicitation of any offer to buy any securities issued by Bufab Holding AB (the "Company") in any jurisdiction where such offer or sale would be unlawful.
In any EEA Member State, other than Sweden, that has implemented Directive 2003/71/EC as amended (together with any applicable implementing measures in any member State, the "Prospectus Directive"), this communication is only addressed to and is only directed at qualified investors in that Member State within the meaning of the Prospectus Directive.
Any securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold in the United States absent registration or an exemption from registration under the Securities Act. There is no intention to register any securities referred to herein in the United States or to make a public offering of the securities in the United States. Any securities sold in the United States will be sold only to qualified institutional buyers (as defined in Rule 144A under the Securities Act) pursuant to Rule 144A.
In the United Kingdom, this document and any other materials in relation to the securities described herein is only being distributed to, and is only directed at, and any investment or investment activity to which this document relates is available only to, and will be engaged in only with, "qualified investors" (as defined in section 86(7) of the Financial Services and Markets Act 2000) and who are (i) persons having professional experience in matters relating to investments who fall within the definition of "investment professionals" in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order"); or (ii) high net worth entities falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as "relevant persons"). Persons who are not relevant persons should not take any action on the basis of this document and should not act or rely on it.
[1] Nordic Capital Fund V or its indirect subsidiary Bufab S.à r.l., the largest shareholder in Bufab, as the context may require. Nordic Capital Fund V is comprised of (1) Nordic Capital V Limited, acting as general partner of Nordic Capital V, L.P.; and (2) NC V Limited.
[2] Adjustments have primarily been made for non-recurring items regarding costs due to personnel reductions and increased risk of obsolescence in inventory, and impairment of goodwill related to Bufab Spain. Non-adjusted average operating margin for the same period amounts to 10 per cent.
