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[April 2005]
Sanitec Acquisition Completed
The sale of Sanitec Corporation to the private equity fund EQT IV was closed on 11 April 2005 following customary approvals by relevant competition authorities.
EQT signed the agreement with Sanitec International SA, a company controlled by BC Partners advised private equity funds, to acquire all shares in Sanitec Corporation on 4 February 2005. Sanitec Corporation is the Finnish parent company of the Sanitec Group.
As of 11 April 2005, Lennart Sunden follows Rainer Simon as new President and CEO of Sanitec Corporation. "I am very excited about this opportunity to work for a company such as Sanitec, which is leader in its market, and look forward to working together with all its employees to further enhance Sanitec's market position and profitability," said Mr Sunden.
ENDS