- Significant repositioning of the company
- Expanded presence in growth markets of Asia
- Greater investment in research and development, optimizing manufacturing footprint and sales initiatives
- First IPO of a Triton investment in Sweden
Stockholm, 17 June 2015 -
'We would like to thank the management team, the employees, the Chairman, the Board and all other stakeholders for their contributions to Alimak's development. Together we have done an outstanding job developing the company. Triton has been the majority owner of Alimak for more than eight years. The IPO is an important step for Alimak. Having direct access to the capital market gives the company more scope to continue growing organically and to build upon its strong market position worldwide. The fact that the offering was many times over-subscribed is a seal of approval from the market and a validation of management's hard work over many years. We look forward, together with the other shareholders, to continue taking part in Alimak's future in a listed environment.' said Björn Nilsson, Investment Professional, Triton Managers II Limited, General Partner to the Fund.
Tormod Gunleiksrud, CEO of Alimak, commented: 'With a business-minded owner at our side we have successfully established Alimak as a widely recognized and preferred brand with a unique insight into our customers' needs. This in turn has awarded us a strong global market position. Alimak's international sales and manufacturing platform in both emerging and mature markets provides us with a key competitive advantage. We are seeing significant opportunities ahead in capturing strong growth in the mid-market segment, driving penetration of after sales services in our installed base and continuing to innovate our product portfolio. It was a crucial and good decision to invest in our international expansion, research and development and manufacturing footprint during an economically challenging period.'
Triton acquired Alimak in 2007 recognizing Alimak's significant growth potential due to the underlying global trends supporting the industrial and construction sectors, as well as the company's own growth agenda. Alimak is an industry leader in designing, developing, manufacturing, distributing and servicing industrial vertical access solutions predominantly in rack-and-pinion technology.
Under Triton's ownership Alimak focused strongly on:
- Transforming the firm from construction-oriented elevator manufacturer into a global industrial business
- Developing a highly attractive aftersales business
- Opening sales offices in India and Brazil and expanded manufacturing in China as part of an emerging markets development program
- Restructuring the manufacturing footprint to focus production in Sweden and China
- Reaffirming Alimak's cost competitiveness in the market, as well as introduced a mid-market offering that taps high-growth segments of the market.
As a result Alimak now has a global platform including sales, services and distribution network across more than 50 countries on all continents and a large global installed base of approximately 21,000 units. The Company's manufacturing footprint in both China and Sweden is a key differentiating factor. It combines a competitive cost base with unique know-how, well-invested facilities and a global supply chain. The Company is well positioned to capture growth from a number of global macro trends, as well as from its own growth initiatives.