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© AutoStore Systems Business | December 02, 2016

EQT VII to acquire automated storage company AutoStore

Swedish investments firm, EQT VII, has entered an agreement to acquire AutoStore from Jakob Hatteland Holding AS and other minority owners.
The system aims to provide improvements in capacity, performance and cost and does this by using a fleet of robots that run along a shelf system picking up the goods ready for delivery.

Ingvar Hognaland, inventor of AutoStore, says in a press release that; “I am very proud of what we have achieved with AutoStore – it has been developed from a simple idea into a leading product on the marked today.”

The Norwegian company currently employs approximately 140 people and has to date more than 130 installations in 22 countries.

In 2016 AutoStore is expected to generate approximately NOK 500 million (EUR 55.6 million) in sales and NOK 240 million (EUR 26.68 million) in EBITDA. And global trends, including increasing focus on automation and robotisation and need for space efficient solutions, as well as the demands for increased delivery speed and accuracy, are all expected to continue to fuel its growth.

“We are really excited to have EQT as our new owner and are happy to be a part of the EQT family. We strongly believe that EQT’s industrial approach, global presence and network will be of valuable support in our next growth phase and future success.” says AutoStore CEO Karl Johan Lier.

“We are impressed with AutoStore’s unique solution offering and leading position in the market. Karl Johan and his team have built an excellent platform that has grown consistently over time. EQT’s strong expertise in the industrial sector, alongside EQT’s global network, will support AutoStore´s further international expansion and growth,” says Anders Misund, Partner at EQT Partners, Investment Advisor to EQT VII.

The transaction is expected to close in early 2017. The parties have agreed not to disclose the transaction value.

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