The management of Paroc will continue in the company. Paroc's net sales in 2005 totalled EUR 346 million and the company has 1,980 employees. Last year's operating profit before depreciations and non-recurring items (EBITDA) totalled EUR 56 million. 

The agreement is subject to obtaining necessary regulatory approvals. The transaction is expected to be completed within two months.

According to Mr Peder Biese, President and CEO of Paroc Group, Paroc has positive prospects. "The progress and expansion investments we have made during the past years, has created a solid base for the future. We have a good possibility to continue the expansion strategy in Eastern Europe and make considerable investments."

Arcapita is a private equity fund and has three offices based in Bahrain, Atlanta and London. 

Paroc and its shareholders were advised by Lazard.

Further information

Katiye Vuorela, Vice President, Communications, Paroc Group, +358 204 55 4932, mobile +358 40 587 4140