Papyrus Completes Acquisition of Procurator
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Papyrus AB, Sweden, has completed its previously announced acquisition of 100% of the shares in Procurator AB, Sweden. The transaction was completed after approval of the Swedish Competition Authority. At the same time, RoosGruppen AB, Sweden, has become a shareholder in Papyrus, together with private equity groups Altor Fund II and Triton Fund II. The purchase price has not been disclosed.
The Malmö based full-service distributor of personal protection equipment and cleaning and hygiene supplies has operations in Sweden, Denmark, Norway, Finland, and Estonia, and had revenues of approximately EUR 120 million in 2015.
"We are very pleased to welcome Procurator to our Group, and Håkan Roos to the board of directors. Procurator will help strengthen our customer offering by adding safety and protective products to our range," said Christoph Sander, chairman and CEO of Papyrus.
"Procurator and Papyrus together are a very good strategic fit. By combining the strengths of the two companies, we have new opportunities for profitable growth. I truly look forward to contributing to this exciting journey as a shareholder and board member," said Håkan Roos, owner of RoosGruppen AB.
"With the addition of Procurator, we bring a stronger offering to our customers in the Nordics and Baltics. I look forward to working closely with Procurator's CEO Zdenko Topolovec to integrate and further develop our businesses," said Sören Gaardboe, COO, Northern Region at Papyrus.
