Triton completes acquisition of SKF Motion Technologies

Triton

Stockholm (Sweden), Gothenburg (Sweden) 03 December 2018 – After receiving the required approvals, funds advised by Triton (“Triton”) have successfully completed the acquisition of the business unit SKF Motion Technologies (“SMT”) from the SKF Group listed on Nasdaq Stockholm.

SMT is a global provider of electrical linear actuator components- and systems as well as linear motion products, with market leading positions and differentiated offerings in global niche markets, including high end medical and industrial actuators and roller screws. Headquartered in Gothenburg, Sweden, the company operates nine production sites, 13 dedicated sales units and employs approximately 1,200 employees.

With the closing Triton takes over all entities of the former business unit, as well as all staff. From now on SMT will be further developed as a standalone company under Triton’s ownership. A new brand name will be rolled out during 2019 and the company will continue to be known as “SKF Motion Technologies” and retain legal right to use the abbreviation SKF until introduction of the new brand.

“We look forward to actively supporting SMT’s management and employees by investing in and supporting the growth and development of the company. Our industry expertise from other investments in the sector and our strong network of senior industry experts, will contribute to further develop the company.” said Peder Prahl, Director of the General Partner for the Triton funds.

 

About Triton
The Triton funds invest in and support the positive development of medium-sized businesses headquartered in Europe, focusing on businesses in the Industrial, Business Services and Consumer/Health sectors.

Triton seeks to contribute to the building of better businesses for the longer term. Triton and its executives wish to be agents of positive change towards sustainable operational improvements and growth. The 37 companies currently in Triton’s portfolio have combined sales of around € 12.9 billion and around 83,000 employees.

The Triton funds are advised by dedicated teams of professionals based in Germany, Sweden, Norway, Finland, Denmark, Italy, the United Kingdom, the United States, China, Luxembourg and Jersey.

Press contacts:

Triton
Fredrik Hazén +46 70 948 38 10

SKF
Theo Kjellberg +46 72 577 65 76

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AURELIUS completes acquisition of leading manufacturer of Water and Waste Water Valves VAG

Aurelius Capital

Munich, November 27, 2018 – AURELIUS Equity Opportunities SE & Co. KGaA (ISIN DE000A0JK2A8) has completed the acquisition of VAG, the Mannheim-based manufacturer of water and waste water valves from U.S.-based Rexnord.

As a globally active company, VAG is one of the leading suppliers of valves for water treatment and distribution, waste water management, dams, power stations and the energy industry. With approx. 1,200 employees, VAG generated sales of almost EUR 200 million in its 2017/18 financial year. VAG is known and appreciated throughout the world for its market-leading know-how in product development and bears the quality seal “Engineering made in Germany.” The company has six production facilities in Germany, the Czech Republic, China, India, South Africa and the United States, as well as 14 own sales offices that sell VAG’s products and services in more than 100 countries of the world. VAG operates both in the global project business and in the production and distribution of standard applications.

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Leadec sells Veltec to Plant Systems & Services PSS GmbH

Triton

Stuttgart/Niedernberg (Germany), 27 November 2018 – Leadec Group, a Triton Fund IV company, has signed an agreement to sell Veltec Group to Plant Systems & Services PSS GmbH. Leadec will focus completely on its strategic growth targets in the manufacturing industry, while Veltec will strengthen its position in the process industry with this strategic partner. Completion is subject to regulatory approval. The purchase price has not been disclosed.

About Leadec
Leadec is the leading provider of technical services for the automotive and manufacturing industries. The company, which is headquartered in Stuttgart, employs almost 20,000 people worldwide. In 2017 Leadec earned sales of around EUR 900 million. For more than 50 years, Leadec has been supporting its customers along the entire production supply chain. The service provider is based at more than 200 locations, often directly at the customers’ plants and facilities.

Leadec’s global services comprise: Install (installation and automation, disassembly and reassembly), Maintain (production equipment maintenance and technical cleaning), Support (IFM/TFM and internal logistics) and Digitize&Optimize (process engineering and digital services) as well as other local services.

For more information about Leadec go to: www.leadec-services.com

About Veltec
Veltec is a leading European provider of technical maintenance services for the process and power plant industries, focusing on customers in Central and Northern Europe. Veltec currently has 9 branches and the Veltec service team supports customers in the process industries oil and gas, chemicals, life sciences, raw materials and power plants on site at 35 additional sites.

For more information about Veltec go to: www.veltec-services.com

About Triton
The Triton funds invest in and support the positive development of medium-sized businesses headquartered in Europe, focusing on businesses in the Industrial, Business Services and Consumer/Health sectors.

Triton seeks to contribute to the building of better businesses for the longer term. Triton and its executives wish to be agents of positive change towards sustainable operational improvements and growth. The 36 companies currently in Triton’s portfolio have combined sales of around €12,7 billion and around 82,000 employees.

The Triton funds are advised by dedicated teams of professionals based in Germany, Sweden, Norway, Finland, Denmark, Italy, the United Kingdom, the United States, China, Luxembourg and Jersey.

For further information: www.triton-partners.com

Press Contacts:

Triton
Marcus Brans
Phone: +49 69 921 02204

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Bridgepoint sells AHT Cooling Systems to Daikin

Bridgepoint

AHT, the global market leader in commercial plug-in refrigeration equipment for food retailers, is to be sold by private equity group Bridgepoint to Daikin Europe N.V., a subsidiary of Daikin Industries Ltd of Japan.

Headquartered in Austria, with a presence in over 100 countries, AHT’s core products are ‘plug-in’ supermarket refrigeration cabinets. Plug-in refrigerators are the fastest growing segment in commercial refrigeration, replacing centralised remote systems as a result of lower total cost of ownership and speed of installation. The company has an installed base of over one million units. AHT’s contracts are based around the provision of comprehensive installation and maintenance services alongside the products themselves. It has four manufacturing sites in Austria, China, Brazil and USA.

Bridgepoint acquired the business in November 2013. In 2017 the company had €481m net sales and has achieved 12% compound revenue growth over last 10 years.

Michael Davy, partner at Bridgepoint and Chairman of AHT, said: “AHT has been transformed from a largely Europe-focused business into a global leader in its segment with a growing presence in a number of attractive international markets. It has been at the forefront of the refrigeration industry’s move away from remote built-in systems to plug-in units which customers find easier to install or relocate, are lower cost to operate, and are typically more environmentally friendly than traditional systems. We wish the company continued success under a new owner as it continues to expand geographically and enlarges further its product portfolio.”

Under Bridgepoint ownership there was significant investment in the business including over €70 million of capital expenditure in the last three years alone for the development of new products, expanding the manufacturing facility in Austria and setting up new production sitesin Brazil and the US. AHT also expanded its operations in China, where its production capability has enabled the group to reduce manufacturing costs, while continuing to grow market share in Europe.

Plug-in refrigeration is forecast to continue to outperform the wider global refrigeration market as a result of increased adoption, the replacement cycle of its installed base and growth in the consumption of frozen and chilled foods.

Frank Elsen, chief executive of AHT, added: “We have developed strongly since Bridgepoint invested over four years ago and we’ve become a leader in our market. Our ambitions do not end here and we welcome Daikin as our new shareholder. We will now be alongside a partner who knows and understands our business well. They will support us in our strategy of innovation and further internationalisation, especially in emerging markets, allowing us to take AHT’s technology and after-sales service to new customers in our key target markets of Asia and Latin America.”

Masatsugu Minaka, President of Daikin Europe, said: “With the acquisition, Daikin is adding AHT showcases to its own wide  range of products, services and solutions based on its air conditioning and refrigeration equipment. This will enable Daikin to become a one-stop provider, offering complete coordination of air conditioning and refrigeration products. The refrigeration and freezer business is a highly social issue as it contributes to one of the crucial world challenges of food preservation and food waste reduction, especially faced in developing countries. The refrigeration business presents great opportunities for us to utilise the advanced technologies we have cultivated including energy saving, inverters and refrigerant control.”

For Bridgepoint, advisers involved in this transaction included: JP Morgan (M&A), PwC (financial/tax), Freshfields (legal)

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GILDE BUY OUT PARTNERS and management acquire KINKELDER

Gilde Buy Out

Zevenaar – Funds advised by Gilde Buy Out Partners (“Gilde”) today announced the acquisition of De Kinkelder Beheer B.V. (‘Kinkelder’), together with management. The terms of the agreement have not been disclosed.   Kinkelder, which has been a family business since its foundation in 1945, specialises in the production, development and sale of high-quality industrial circular saw blades for the steel industry and is the global leader in this market.

Kinkelder produces blades in 3 locations in Europe and the US, from which it exports to over 70 countries. The company has an unmatched reputation for high quality & service and a continuous focus on innovation. Under the ownership of the De Kinkelder family, the company has displayed a strong growth track record, both organically and through focused acquisitions. Kinkelder’s management has found a valuable partner in Gilde, with a wealth of experience in successfully supporting mid-market companies during their next growth phase. Jointly, Gilde and Kinkelder management are eager to continue to build on the success of the company and further grow its business. Read more at: http://gilde.com/news/2018/gilde-buy-out-partners-and-management-acquire-kinkelder

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Latour divests its holding in Diamorph

Latour logo

Investment AB Latour (publ) has signed an agreement to divest its entire shareholding in Diamorph, a total of 14,923,571 shares which corresponds to 28.2 per cent of the capital. The transaction is carried out in connection with the UK-based Epiris Fund II’s acquisition of all the shares in Diamorph. Epiris has a long history of successful investments and we consider Epiris to be an owner that secures the future development of Diamorph.

Latour has been a shareholder in Diamorph since 2012. The divestment is a consequence of a decision supported by more than 90 per cent of the company’s shareholders. The purchase price for Latour’s share of the transaction amounts to SEK 290 m. Latour’s total in investment in Diamorph is SEK 164 m. The transaction will be completed in January 2019, subject to certain conditions that has to be fulfilled before that.

Göteborg, 20 November, 2018

INVESTMENT AB LATOUR (PUBL)
Jan Svensson
President and CEO

For further information, please contact:
Anders Mörck, CFO Latour, +46 706 46 52 11

Investment AB Latour is a mixed investment company consisting primarily of a wholly-owned industrial operations and an investment portfolio of listing holdings in which Latour is the principal owner or one of the principal owners. The investment portfolio consists of ten substantial holdings with a market value of about SEK 51 billion. The wholly-owned industrial operations has an annual turnover of about SEK 10 billion.

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Eurazeo PME signs an exclusivity agreement for sale of majority interest in Vignal Lighting Group capital

Eurazeo

Eurazeo PME, Eurazeo’s division specializing in medium-sized companies, has received a firm offer to
purchase all of its interest in Vignal Lighting Group from EMZ Partners. Thus, Eurazeo PME has entered into
exclusive negotiations with the Private Equity firm until January 2019. The divestment project will soon be
subject to consultation with the relevant staff representative institutions.
Eurazeo PME acquired a majority stake in Vignal Lighting Group, global leader in lighting for on and off-road
specialty vehicles, in February 2014, working together with Jean-Louis Coutin and the company’s
management team to the transformation of the Group. The transaction, should it occur, would allow
Eurazeo PME to make €119M proceeds from the sale, including the 2016 repayment of the bonds for €27M,
representing a multiple of 2.8x its initial investment.

With Eurazeo PME as its majority shareholder, Vignal has conducted its significant transformation from an
European player in signaling for trucks and trailers to the global leader in lighting for on-road and off-road
specialty vehicles. The acquisition and integration of ABL Lights (2014) and CEA (2016) have supported the
group to offer a comprehensive and complementary product ranges on diversified end-markets (trucks,
construction, mining, handling, agriculture) and geographies (Europe, Americas, Asia) both in OEM and
aftermarket segments. Since 2014, the group has sped up its international expansion, benefitting from
significant cross-selling between product ranges and set-up of a direct presence in the US and in Asia.
Supported by Eurazeo PME, the group has invested in its industrialization across the three continents, with
in particular a new 11,500 sqm industrial and R&D center in Corbas and the opening of a new plant in China.
The group’s turnover more than doubled over the period from €47M in 2013 to €106M in 2017.
Pierre Meignen, Managing Director and Member of Eurazeo PME’s Management Board, declared: “With
the management of Vignal Lighting Group, we have had, since our acquisition, great ambitions to transform
the company in France and internationally. Thanks to the quality of its managers and employees, Vignal
Lighting Group fully respects its strategic roadmap by combining organic growth with external growth,
allowing for a significant expansion of its product range as well as expansion into new markets.”

About Vignal Lighting Group
Vignal Lighting Group is specialized in designing, manufacturing and marketing of lighting and signaling products and systems for industrial and commercial vehicles. It is the result of the combination in 2014 of Vignal Systems and ABL Lights. Both companies gained over time an international recognition in their respective fields thanks to innovative and high-quality products. In 2016, Vignal Lighting Group extends once again its product ranges with the acquisition of the company CEA SA based in Rancate, Switzerland, specialized in beacons and safety products for special vehicles especially in the agricultural field. Vignal Lighting Group also has production sites in the United States and China. With a staff of c. 500 persons, Vignal Lighting Group generated in 2017 a turnover of higher than €106M.
The R&D centers are located in France in the industrial areas of Lyon and Caen and in Rancate, Switzerland.

About Eurazeo PME
A subsidiary of Eurazeo, Eurazeo PME is an investment company dedicated to majority investments in French SMEs
with a value of under €250 million. As a long-term professional shareholder, it provides its investments with all the
financial, human and organizational resources necessary for long-term change, and supports those companies in its
portfolio in implementing sustainable and therefore responsible growth. This commitment is formalized and deployed through a CSR (Corporate Social Responsibility) policy.

Eurazeo PME achieved a consolidated turnover of €1.1 billion in 2017 and supports the development of the following
companies: 2RH, Dessange International, Léon de Bruxelles, Péters Surgical, Vignal Lighting Group, Redspher, the MK
Direct Group, Orolia, Smile, In’Tech Medical and Vitaprotech. These companies are solidly established within their
market and driven by experienced management teams.

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EQT invests in leading wallpaper company Artwall in China

eqt

  • EQT Mid Market Asia acquires a 40% stake in Artwall, a leading wallpaper designer, manufacturer and retailer in China. Artwall has the first-class flexible digital print-on-demand technology and owns the China business of international premium wallpaper brand Brewster
  • EQT to support Artwall’s continued growth strategy, with its leading position in the digital flexible manufacturing wallpaper space, and further expand the retail network as well as develop the product offering to become a fully-integrated manufacturer and a strong national brand
  • EQT is partnering with the Artwall management team, which remains majority shareholders, and the strategic investor Red Star Macalline

The EQT Mid Market Asia III fund (“EQT Mid Market Asia”) today announces the acquisition of 40% of the shares in Shanghai Artwall Environmental Technology Co. Ltd. (“Artwall” or the “Company”) from the Company’s founders. The investment is made alongside with Red Star Macalline, the largest national operator of home furnishing malls in China. Artwall’s management team will, under the leadership of Ling Li, Founding CEO and Chairman, continue to lead the Company and drive the growth and development strategy.

Founded in 2005, Artwall produces a full range of wallcovering products including wallpaper, mural, wall cloth and curtains, and has a well-diversified distribution network consisting of self-branded retail stores and dealers. Artwall has become a leading and well-respected wallpaper manufacturer with creative design capabilities and first-class flexible digital print-on-demand technology. The Company is headquartered in Shanghai and has more than 500 employees.

With support from the industrial network and access to EQT’s vast experience within the retail and consumer sector, Artwall is well-positioned to capture the growth opportunities in the under-penetrated wallpaper market in China and benefit from the increasing trend of more frequent home and house renovations. The strategy includes continued growth, both organically and through add-on acquisitions of top wallpaper brands with the overall ambition to become a fully-integrated soft decoration solution provider and a strong national brand. In September 2018, Artwall announced the acquisition of Brewster’s China business. Brewster, founded in 1935, is the leading US wallpaper brand and has been a well-established premium brand in China for more than 20 years.

The parties have agreed not to disclose the transaction value.

Contacts
Jerry He, Partner, Investment Advisor to EQT Mid Market Asia +86 21 6120 1097
EQT Press office +46 8 506 55 334

About EQT
EQT is a leading investment firm with approximately EUR 50 billion in raised capital across 27 funds. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 19 billion and approximately 110,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

More info: www.eqtpartners.com

About Artwall
Artwall is a leading wallpaper designer and manufacturer in China with strong original designing capability and pioneer in flexible digital printing technology. Founded in 2005, Artwall is headquartered in Shanghai and has more than 500 employees.

More info: http://en.qiangshangsh.com/

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IK Investment Partners to support 2Connect in its first Benelux Small Cap strategy investment

ik-investment-partners

IK Investment Partners (“IK”) is pleased to announce that the IK Small Cap II Fund has completed its first transaction in the Benelux by acquiring 2Connect, a leading manufacturer of specialised cables and connectors, from the van der Put family. Financial terms of the transaction are not disclosed. The founder will reinvest alongside the Fund.

2Connect design, develops and produces tailored interconnection solutions for OEM and ODM customers worldwide. The product portfolio includes specialised designed cables, molded connectors, electronic packaging and interconnection modules. Founded in 2000, the company prides itself on setting new standards for interconnection solutions by designing high quality and cost-effective units in close cooperation with its long-term client base.

The acquisition of 2Connect represents the first Small Cap transaction in the Benelux region, following shortly after the final close of the IK Small Cap II Fund at its hard cap of €550m.

“The market for speciality cables is expected to grow as automation, miniaturisation and digitisation drive increased connectivity. 2Connect’s unique combination of in-house tailored design and low to medium volume manufacturing capabilities puts the company in a strong position to further develop its offering and gain market share. We are delighted to be the preferred partner for the future for Marc and his team,” said Sander van Vreumingen, Partner at IK Investment Partners and advisor to the IK Small Cap II Fund.

“As we enter the next phase of growth, we believe to have found the perfect partner in IK. They share our vision on how to accelerate growth for 2Connect. Together we will strengthen 2Connect’s market position via operational improvements and other initiatives. We believe that this new partnership will deliver significant business value to our clients,” said Marc van der Put, CEO, 2Connect.

This transaction represents the 4th investment by the IK Small Cap II Fund. The other three investments are SCHEMA, a leading developer and provider of software solutions; Bahr Modultechnik, a leading German manufacturer of modular positioning systems, and Carspect, a leading provider of vehicle inspection services in Northern Europe.

For further questions, please contact:

2Connect
Marc van der Put
CEO
Phone: +31 416 671780

IK Investment Partners
Sander van Vreumingen
Partner
Phone: +31 208 909 210

Mikaela Hedborg
Director Communications & ESG
Phone: +44 77 87 573 566
mikaela.hedborg@ikinvest.com

About 2Connect
2Connect was founded in 2000 aiming to become the leading one stop shop for customers demanding very specific tailor-made cables, connectors, electronic packaging and interconnection modules. Our lean methods of designing, developing and producing guarantee quick and cost-effective solutions, supported by high quality systems such as ISO 9001:2015, IATF 16949, ISO 13485 (medical), UL/CSA approvals and IPC A-620 standards. For more information, visit www.2-connect.info

About IK Investment Partners
IK Investment Partners (“IK”) is a Pan-European private equity firm focused on investments in the Nordics, DACH region, France, and Benelux. Since 1989, IK has raised more than €9.5 billion of capital and invested in over 120 European companies. IK funds support companies with strong underlying potential, partnering with management teams and investors to create robust, well-positioned businesses with excellent long-term prospects. For more information, visit www.ikinvest.com

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Partnera and Tesi invest in Uusioaines – the leading glass recycler and foam glass manufacturer in Finland

Tesi

INVESTMENTS IN COMPANIES – 7.11.2018

Partnera, a Finnish investment company located in Oulu, has reached an agreement to acquire Uusioaines Ltd. As a result of the transaction, Partnera becomes the majority owner of Uusioaines with a 58% stake in the company. Other shareholders include Tesi (Finnish Industry Investment Ltd) with 30% ownership, as well as the former sole owner Jarkir Ltd, and Managing Director Jussi Parkkali. The total consideration of the transaction is EUR 19.8 million on a debt and cash free basis.

According to Jari Pirkola, CEO of Partnera, Uusioaines fits well into Partnera’s investment strategy:
“Uusioaines is a Finnish family business, and glass recycling and manufacturing of foam glass represent circular economy and sustainable development, which are both vital to our society. As the leading player in Finland, Uusioaines has long-standing relationships with recycled glass suppliers and a well-functioning production plant with experienced professionals. Uusioaines is currently performing well and it holds great potential for future growth and development.”

Uusioaines Ltd is the leading glass recycling company in Finland, processing up to 70% of all recycled glass in the country. The company’s manufacturing plant in Forssa, Finland, produces glass cullet and glass powder for various industry use. Furthermore, by-products from the recycling process are used to produce foam glass, an environmentally friendly insulating product and low-capillarity and lightweight fill material. It is remarkably lighter than crushed stone and as such, ideal as an insulating lightweight aggregate material for road construction and infrastructure projects, as well as for providing insulation in a wide range of buildings, foundations, limecrete floors and roofs.

Jari Stenberg, owner of Jarkir Ltd, the former sole owner of Uusioaines, will stay with the company as a minority owner. Stenberg has been part in leading the family business in its journey of moving from stone crushing to glass recycling and now the production of foam glass. He comments: “The foam glass product has great growth potential and our new owners will help in with the realisation of that potential. We are happy to join forces with Partnera and Tesi – both being Finnish investors and with the same core values as we have.”

Responsibility is always present in Tesi’s investment activities. Many of its portfolio companies focus on reducing environmental impact and energy consumption.

“Exporting Finland’s expertise in circular economy is one of the goals of the Finnish government. Due to tightening regulation, glass recycling rate is projected to rise in Europe, creating new opportunities for Uusioaines,” says Tesi’s Investment Manager Samuel Saloheimo.

Partnera Ltd is owned by a large number of private and public entities, while Tesi is owned by the state of Finland. Uusioaines, being a profitable Finnish family business focusing on sustainable development, is a natural investment for both Partnera and Tesi.

“Like us, Tesi is an investment company that invests with financial goals in mind, but we both see that investments are also worth measuring by their effect on society,” Jari Pirkola points out.

Further information:
Jari Pirkola, CEO, Partnera Ltd
+358 400 867 784
jari.pirkola@partnera.fi

Samuel Saloheimo, Investment Manager, Tesi
+358 50 438 3311
samuel.saloheimo@tesi.fi

Jari Stenberg, Jarkir Ltd
+358 400 305 310
jari.stenberg@uusioaines.com

Jussi Parkkali, Managing Director, Uusioaines
+358 50 5935 157
jussi.parkkali@uusioaines.com


Partnera Ltd is an investor as well as a partner and advisor to its portfolio companies. The company operates in the interface of public and private sectors. It invests in companies and infrastructure ventures operating in this interface. Partnera grows its own shareholder value through the success of its portfolio companies. Partnera has approximately 28,000 shareholders, including private and public entities. The largest owner is the city of Oulu. www.partnera.fi

Tesi (Finnish Industry Investment Ltd) is a state-owned investment company that invests profitably and responsibly, creating value from day one. Tesi’s investments under management total EUR 1.2 billion and it has altogether more than 700 companies in portfolio , either directly or through funds. Tesi helps Finland to the next level of growth and internationalisation. www.tesi.fi www.dtg.tesi.fi / @TesiFII

Uusioaines Ltd is the leading foam glass manufacturer and glass recycler in Finland. The company processes up to 80,000 tons of recycled glass a year. In 2017, the company’s net sales amounted to EUR 14.3m. Uusioaines has operations in Forssa and Jokioinen with 35 employees. www.uusioaines.com

Foamit foam glass product is an environmentally friendly insulating product and low-capillarity lightweight-fill material, manufactured from cleaned recycled glass. It is ideal as an insulating lightweight aggregate material for road construction and infrastructure projects as well as providing insulation in a wide range of buildings, foundations, limecrete floors and roofs. www.foamit.fi

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