Triton portfolio company Ambea makes successful stock market debut at an issue price of SEK 75 per share
Stockholm, Sweden, 31 March 2017 - Funds advised by Triton ("Triton") have successfully completed an Initial Public Offering of shares in Ambea AB (publ) ("Ambea"). Today, Ambea, a leading provider of care services in Sweden, began trading on the NASDAQ Stockholm at a price of SEK 80 per share. This compares to the issue price of SEK 75 per share.
Peder Prahl, Director of the General Partner to Triton Fund III, commented:
"We would like to thank the management team, the employees, the Chairman, the Board, and all other stakeholders for their contributions to Ambea's development. Since the acquisition in 2010, we have supported Ambea to become a customer-focused and quality-driven health care provider. We have experienced first-hand the dedication to care, service and quality that the employees and the leadership stand for and deliver. A broader share ownership will well serve Ambea’s continued development. In addition to the public, the shareholders include a large number of Ambea employees. This brings transparency, commitment and participation. We consider it a seal of approval that the offering was many times over-subscribed - a validation of the team’s hard work over many years. It has been a privilege for us to partner with the company and we look forward, together with the other shareholders, to continue taking part in Ambea's future.”
Fredrik Gren, CEO of Ambea, commented:
“Ambea has achieved strong growth in combination with high quality and has today around 200 Swedish municipalities as clients. The need for care is large and growing, and we want to contribute to solve this challenge for society. We view the listing, with broadened ownership and clear transparency requirements, as essential in our ambition to contribute to the development of care in our community. We have a positive view of the growth opportunities, which will be made available by the IPO. The management and the board of directors look forward to our journey as a listed company and creating value for both current and new shareholders.”
Triton acquired Ambea Sweden in 2010 in partnership with KKR. Over the years, Triton and KKR have supported the company’s continued growth through investments for improved quality. The company has made significant progress to becoming a Swedish quality leader.
Ambea’s long-term goal is to be the first choice for people needing care; the best partner for municipalities; the most attractive employer for knowledgeable and committed employees; and a leader in developing quality within its business areas. Today, Ambea is well positioned to develop further and to expand the business through continued focus on quality, employee satisfaction and stakeholder’s trust.
The Triton funds invest in and support the positive development of medium-sized businesses headquartered in Europe, focusing on businesses in the Industrial, Business Services and Consumer/Health sectors.
Triton seeks to contribute to the building of better businesses for the longer term. Triton and its executives wish to be agents of positive change towards sustainable operational improvements and growth. The 29 companies currently in Triton's portfolio have combined sales of around €13.8 billion and around 76,000 employees.
The Triton funds are advised by dedicated teams of professionals based in Germany, Sweden, Norway, Finland, Denmark, Italy, the United Kingdom, the United States, Luxembourg and Jersey.
For further information: www.triton-partners.com