Press release - Hilding Anders

Hilding Anders Int. AB
Östra Varvsgatan 4
SE-211 19 Malmö, Sweden
Phone: +46 (0)40 665 67 00
Fax: +46 (0)40 665 67 01
www.hildinganders.se
Press release
19 November 2009
Hilding Anders Group, on solid financial ground
Hilding Anders has, together with its owners and banks, agreed a new capital
structure. Growth is again a primary focus.
The global recession coupled with an impaired Swedish krona at the beginning of 2009 led
to a review of Hilding Anders’ financing structure. Management, the owners and the banks
have worked together to find an appropriate solution and an agreement has now been
reached with all parties. This agreement provides financing for Hilding Anders until 2014.
An important component of this agreement is that Candover remains as majority
shareholder. Candover will make a capital contribution amounting to approximately 500
MSEK together with the Company’s new minority shareholder MezzVest. Senior lenders will
leave their original loan amounts in place whilst the mezzanine lenders will convert
approximately 1,100 MSEK to shares and shareholder loans. This will bring the Group’s
equity ratio to approximately 25 %. Another important part of this agreement is that the
Company has adjusted its banking covenants such that it has 20 % headroom on its financial
forecasts, giving the Group further financial flexibility.
”The new agreement is very positive for Hilding Anders”, comments Anders Pålsson,
President & CEO of Hilding Anders. “It means that we now stand on a firm financial footing
and will be able to act from there. This agreement is also evidence of Candover’s faith in the
Company and its management team and confirmation that they support our buy and buildstrategy.
With this we can look to a bright future for Hilding Anders”.
”We are now prepared for the current economic environment. We have reduced our cost
base through the implementation of meaningful cost reduction programmes which will enable
us to deliver better operating results this year versus last year in spite of lower revenues. We
have also worked hard to optimise our working capital. These actions have allowed us to
continue to be extremely cash generative and we will remain a strong partner for both
customers and suppliers. Innovations, new sales channels and acquisitions will secure and
further strengthen our leading position in Europe and Asia. Expansion is again on the
agenda,” concludes Anders Pålsson.
.
Hilding Anders was founded in 1939 at Bjärnum in Skåne and has developed into Europe and Asia’s leading bed and mattress
manufacturer. Its head office is currently located in Malmö and the group is owned by the British investment company Candover.
Through its around 30 subsidiaries, the Group owns around 20 strong bed brands that are sold in Europe and Asia. Hilding Anders
also carries out a comprehensive production programme for several renowned international furniture retailers. The Group has a
workforce of around 4,600 employees and a presence in 27 European and 13 Asian markets. In 2008, turnover amounted to SEK 7
billion pro forma.
Brand portfolio
André Renault • Bedding • Bico • Curem • Dunlopillo • Eastborn • Ekens • Happy Systems • Hespo • Hilding • Jensen • Koz • Myer’s
• Passion • Perfecta Dreams • Pullman • Sand • Sleepwell • Slumberland • Somilar • Staples • Stjärnbädden • Tropico • Vono

Press release
For further information, please contact:
Anja Trägårdh, Communication Manager, Hilding Anders
Tel: +46 (0)708 95 97 58
E-mail: anja.tragardh@hildinganders.se
Hilding Anders was founded in 1939 at Bjärnum in Skåne and has developed into Europe and Asia’s leading bed and mattress
manufacturer. Its head office is currently located in Malmö and the group is owned by the British investment company Candover.
Through its around 30 subsidiaries, the Group owns around 20 strong bed brands that are sold in Europe and Asia. Hilding Anders
also carries out a comprehensive production programme for several renowned international furniture retailers. The Group has a
workforce of around 4,600 employees and a presence in 27 European and 13 Asian markets. In 2008, turnover amounted to SEK 7
billion pro forma.
Brand portfolio
André Renault • Bedding • Bico • Curem • Dunlopillo • Eastborn • Ekens • Happy Systems • Hespo • Hilding • Jensen • Koz • Myer’s
• Passion • Perfecta Dreams • Pullman • Sand • Sleepwell • Slumberland • Somilar • Staples • Stjärnbädden • Tropico • Vono