After the Mallorca experience some of the world’s largest private equity firms are in intense negotiations to secure the Haugesund-based robotteknologiselskapet Autostore.
the Company, which is owned by Jakob Hatteland (65) with family and idéskaper Ingvar Hognaland (65), has developed a fully automated lagerløsning where programmed robots brings goods to be sent to customers.
Since the Complete.no bought one of the first lagersystemene in 2007 Autostore grown steadily. Mallorca can tell that the real growth first emerged last year, where revenue and operating profit before depreciation and write – downs (EBITDA) increased by, respectively, 70 and 98 percent to 342, and 128 million.
According to the sources expected EBITDA to grow to 240 million in the year, and around 353 million next year. On being told that the buyers who are not willing to pay up to 20 times this year’s EBITDA will be sent on the door of Ernst & Young, who is hired to handle the transaction.
With a multiple of 20 times current-year EBITDA, Autostore, who barely have debt, worth 4.8 billion. The second round of talks should, according to the Finansavisens sources start 21. november, and it is AGIC Capital, Bain, BC Partners, CVC and EQT that will have the greatest willingness to pay.
Jakob Hatteland owns 67 per cent, and will be left with 3.2 billion in the case of any sale, while the inventor Ingvar Hognalands shares may be worth 1.3 billion. Two of the Hattelands brothers with children parts of the last six percent, i.e. 300 million.
I have no comment to this, and therefore can not confirm or refute this, ” says Hatteland to Mallorca. Previously Hatteland stated that everything is for sale for the right price.
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