Yeah, thank you, and welcome to this call where I'm very happy to announce that we have just signed the deal to acquire Tractel. With me today on the call, I have Thomas, my CFO. If we turn page. With this acquisition, we are creating a leader in providing safe and sustainable premium height solutions. The acquisition is transformational, where we will accelerate our profitable growth and increase value for our shareholders, expanding our market presence, widening the customer base, and also our solution portfolio. With this, we are creating this world-leading and safe, sustainable premium height solutions company with annual revenues combined exceeding SEK 6 billion, if you look at running 12 months per June 30, 2022, and then also with an EBITDA margin of 17%, excluding synergies.
This adds a new vertical into our group with height safety and productivity tools, and also following that, a network of distributors globally. It strengthens our solution portfolio within construction, facade access, and also the wind division, as well as significantly increase the potential for our service business. If we turn page. I came to this group June two years ago, and then we started what we called the New Heights program, where we said we have three steps. First one was to establishing the base, second was to secure margin improvements, and the third was to move into a phase where we deliver profitable growth. Establishing the base was, you know, we created a vision where we said moving people, material, and businesses safely to new heights.
We also said that the key perspective for our value creation should be customer focus, technology leadership, operational excellence, and people. I feel, you know, that we clearly delivered and have set up now a solid Alimak Group, where we have four divisions fully owning their own P&L, a good, strong team, and we are well prepared for taking on the next steps, which we then moved into at the beginning of this year. I've also talked about that we would accelerate our focus on M&A. As you know, we announced the signing of Tall Crane some weeks ago, and now I'm very happy to be able to today announce the signing of Tractel. If we turn page.
Both Tractel and us, we operate in the same market, and we are also exposed, of course, to the same global trends and drivers, which is really supporting and making this a very attractive market. We have urbanization, of course, still ongoing. We also have the industrialization and regionalization that we see more, which we believe will also drive more investments into the industrial segment going forward, that it needs to be more regional rather than global. We see more buildings at heights around the world, and also these 15-minute cities coming up. There is a huge need for further infrastructure investments, and also this overall global trend on focus on safety and stricter work environment legislation for the workers, and making it easy for the workers to do their job every day.
If we turn page. The company that we then have acquired, Tractel, was a company founded in 1947. It's a world-leading height safety specialist providing reliable, innovative, and cost-effective working at height solutions. They also have a very attractive aftermarket business model similar to what we have at Alimak Group, where a lot of their products require inspection, service, and recertification, which means that this is a repetitive service business. Plus, that they also have a nice base of fixed installations, which also then, of course, require services. They have a high set of recognized premium brands with a strong track record in the market. Brands like Tractel itself. They have Scanclimber within the construction side. They have Tirak, Dynafor, Tirfor, some examples of strong global product brands in this sector.
They have a clear focus on some key segments and a large customer base and a strong position in where they operate. Similar to us, they have a presence in more than 120 countries, and subsidiaries in 19 countries, around 1,100 employees and 10,000 distributors around the world. The company is headquartered out of Luxembourg and Paris. Revenues, as I was talking about, you know, increased 7% to EUR 201 million, with an EBITDA margin of 24% in the last running twelve, end of June. You also see on the right side here that you know, some of the key segments, energy, utility, the elevator business, they are strong within.
They are, of course, selling to the end customer industries, construction, distributors, etc. If we turn page and we look a little bit more into the customer base and the premium brands, you will see that you can split, of course, this in several ways. Permanent access, as they report it's around 33%, 30%, 23% of sales. This is mostly then facade access type of business. They have temporary access, which is then more on the construction similar to ours. It's around 18% of sales. They have productivity tools, which is 17% of sales. Height safety, 21% of sales, and services, 21% of sales. The productivity tools and the height safety here are new areas for Alimak Group and opens up new opportunities.
While the temporary and the permanent access will strengthen our existing business in construction and facade access. If you turn page, we see that it's a strong strategic fit with limited overlap overall. It's a perfect match with our group's divisional strategy, and I will come back to this in the following pages. You know, it's widening our customer base. It provides us with a wider and a more solid product and service portfolio. It strengthens our overall market position. They are also heavily positioned in Europe and North America, but it also opens up new countries in these regions. They have, similar to us, a global service organization. Combined, this will give us a very strong setup able to service our customers.
We have also dived, of course, heavily into the culture of the company, and we see that we are very similar, and we share the same culture and values. If you turn to the next page. One of the things, as I said, is coming with this is a new vertical, which is related to products within height safety and productivity tools. But here also we see that these are products that will also, you know, have quite a lot of synergies into our existing Alimak business. For example, you know, on the height safety side, they have products, the fences, et cetera, for construction sites. They have harnesses and belts, lanyards, stuff that you can combine and sell into construction sites and rental customers, et cetera.
They contribute with a solid global network of distributors and of course, the end customers from these distributors are found within both construction and basically all industrial segments. If you turn page. On the construction side, this acquisition broadens our portfolio. You know, Alimak, we are strong with what we call the hoists. We have said that we want to strengthen our mast climbers and transport platforms. Tractel here with the brand Scanclimber brings in a very, very solid brand and manufacturer of mast climbing work platforms, which will then be a very nice add on to our construction business. They also do have some sort of rental business similar to ours, not in the same size, but that will also add a nice piece.
Plus the height safety products that I talked about that also will go into the construction segment. If you turn page, facade access. They are also, you know, having quite a solid position in the facade access business, but they are more focused on the traditional BMUs and the davit setup, while Alimak has been more focusing on really the tall structures. This provides us also with a more complete portfolio from a product perspective, and of course, also gives us even more machines and fixed installations to service. Makes us more complete in this whole thing with both managing complex projects and high rises with the standard BMUs and mid-rises and with davits and simpler access systems for more low rises.
We also see that the facade access business within Tractel is delivering solid profits. We also of course expect now from this that we will increase the speed in improving the profitability within the Alimak Group's facade access business. If we turn page and we look at wind. The strategic review of the wind division is now concluded and closed, and the board decided that we will continue to develop the wind business inside the group. It's several reasons for this. Of course, since we announced that strategic review, that was in the beginning of this year, a lot of things have happened in the energy market and it's more moving than ever.
That changes, of course, the picture on how we view the energy market going forward. During this time period, we have also been able to finalize the tower internal lift that we have been driving for more than a year, and this business is delivering solid profits for us now. We see that we are bottoming out from this type of cleanup. When Tractel came around, we also see that they are active within the wind segment now, more active than before. They have developed solutions which are both for lifting and handling inside the nacelle, but also to provide access for service and maintenance outside of the wind tower and also on blades, etc.
It's a very nice complement, and for these reasons we have decided then that we will keep Avanti and the wind business inside the group. If you turn page and look at service, as I said, and as you know also, you know, service business for Alimak Group is a very, very important part. This is also for Tractel. We share the same type of business model in the sense that both groups deliver and develop products that requires or that are meant for using at height, which means also that they need in most cases to be certified and inspected to be allowed to be used.
This means that it's a recurring business and products that come back to us for service and or that we inspect and service. Tractel have workshops because a lot of their height safety and these productivity tools come back to a workshop for service, so they have more workshop type of service, but they also of course do have outside services similar to ours. Combined, we see that this is a very nice, and we will create a very strong global footprint, both with workshops, with field service engineers, and also the spare part management towards our customers. We can really start to drive even stronger, you know, the prolongation of lifetime of our solutions. We do refurbishments and also if needed replacements.
Altogether, these type of efforts, of course, will reduce climate and environmental footprint and driving total cost of ownership for our customers. If you turn page to the next and synergies, I would like to emphasize that this acquisition is not done on the basis of synergies, even though clearly we do see several synergies from this, both on the cost side and on the commercial side. The acquisition is done more as a standalone because it's a well-run operation, Tractel, with a nice growth trajectory and also very, very solid profits over time. Which means that it's something that it's important for us to take care of and make sure that we don't lose speed in taking this forward.
The main thing in the integration will be that we take care of our existing customers, existing business, making sure we don't lose speed and continue value creation and profitable growth. Of course, at the same time, making smart decisions together, these two teams to realize these synergies that we have identified, which are some cost synergies, where we see that in 2026, this can be around SEK 70 million and around SEK 150 million altogether with also the commercial synergies.
If you turn to next page and the transaction overview and the financing, we are paying then EUR 500 million, which is approximately SEK 5.3 billion on a cash and debt-free basis to the enterprise value, corresponding to an EV/EBITDA multiple of 10.3x based on Tractel's trailing EBITDA running over the last 12 months, ending June 30. The acquisition is financed by this long-term facility of EUR 300 million and a bridge loan facility. The bridge loan facility post-closing of the transaction will be repaid with proceeds from a new share issue with preemptive rights for Alimak Group shareholders.
Of course, something that we are very happy with and a good thing for a company like Alimak Group is to have solid long-term owners in the back like Latour and many of the others that are supporting us here. Latour have, which then represent 29.6% of votes and shares in the group, supports the transaction fully and have undertaken to both vote yes at the EGM to do the rights issue and also to take their pro rata in the rights issue. In addition, we of course over the last few days have also talked to a lot of other owners, and many of them have or everyone that we have talked about have supported this thing.
We have now also approximately 23% of the votes and shares in Alimak Group signed up by this, which means that we have well beyond 50% already support for this process. Post completion of the transaction and the rights issue, the Net Debt/EBITDA ratio will increase to 2.9 times and temporarily then exceed the long-term financial target. We will then of course, you know, work on this and to get it down to our financial targets, which I'm coming also a little bit back to.
Acquisition-related costs, including the transaction, financing, integration and restructuring costs, will approximately be around SEK 65 million, and it's expected that we will recognize this in 2022 and 2023, and it will be reported as items affecting comparability. The closing is expected to be in the second half of 2022. Of course subject to customary competition authority approvals and the shareholders of Alimak Group authorizing the board to resolve on the rights issue. If we turn page, and here we see the current financial targets to Alimak Group. Of course, we remain with a strong commitment to this, you know, revenue growth target of 5%-7%, EBITDA margin of 14%-16%, leverage 2x, and the dividend payout of 40%-60% of net profits.
Of course, also, as you understand, soon after closing, we will come back, and update what is needed to update here, on these financial targets. If we turn page, we also have a sustainability target, which I want to highlight. You know, this is to reduce our footprint, with 30%, with 2025 over 2019. This is also something that we fully stand behind and will continue to drive. Turning page. We see, as I've been alluding to and made that relatively clear, I hope, you know, a strong strategic and operational cultural fit between the two companies. We share the same philosophies when it comes to product development, technology, and also sustainability.
As I was also into the cultures, we have spent time together, and we see that the cultures are fitting well. Where both groups value people as the most important asset, which is a fundament to be able to drive successful business. Both groups are very focused, of course, on their shareholder and stakeholder value delivery. Something I think also Tractel has very clearly proven over many years. We focus on quality products, technology leadership being premium, sustainable solutions with our aftermarket model, where we then service and recertify and reuse and make sure that these products get a long life. It's a recurring business model for us and driving Total Cost of Ownership for our customers.
Of course, digitalization is an important agenda, something we drive strongly in Alimak Group, but we also see in the same way in Tractel. Of course, to ensure that we ourselves have both a safe and inclusive work environment. If we turn the page to the summary. All together, transformational acquisition creating significant shareholder value over time with higher revenue growth and also improved profitability. As I was saying, you know, over the last 12 months, all together, these companies will be beyond SEK 6 million and around 17% EBITDA.
It underlines also, of course, our group's profitable growth strategy, you know, with the New Heights that I was into and that we want to take an even more global presence and be closer to our customers and support more. Of course, also then with this, we increase our customer base. We have a strong strategic fit where we then both will expand and strengthen our market position. We widen the customer base, we widen our product offering, strengthening construction, strengthening facade access, strengthening wind, and creating this new vertical also, which opens a lot of new opportunities for the group. Plus the stronghold that we will get on the service side, combining the service business of the two groups.
With that, I think I have come through the basics of the presentation, and we can move to the Q&A.
Thank you. If you would like to ask a question, please do so by pressing zero one on your number pad. If you would like to withdraw your question, you may do so by pressing zero two on your number pad. Our first question comes from Johan Dahl from Danske Bank. Go ahead. Your line is now open.
Yes, thank you. Good morning. A couple of questions please. Firstly, on the difference in profitability between legacy Alimak and Tractel. I presume it's mostly due to the facade access activities, possibly wind. Can you just talk about, in your view, where you have identified the main reasons for this big divergence in profitability between you and Tractel?
Yeah. Hi, Johan. No, but you're absolutely right. Of course, you know the company well. The big difference sits here and first and foremost, of course, within facade access, as you mentioned first, you know. We hardly have profitability there. We have made losses for a while, you know, and so there, it's a big difference. Which we hope now that combining this, you know, and getting the learning for how it's done there and putting this together, that we can really accelerate the also further, you know, how we lift the profit of the facade access business of this group.
Wind also have somewhat, you know, but it's coming up, I think, in a nice way for us. If you look at our baseline profitability within, let's say, old Alimak in construction and profitability, you know? It's baseline these two, as you mentioned.
Mm-hmm. To what extent, if you look on facade access, to what extent does it change your competitive set during this deal? I mean, do you come up against Tractel a lot in your bids for various projects?
No. Actually, we don't meet that much, you know, because and this has been one of the problems also, I think, you know, that within Alimak, you know, the focus has been on the tall structures, which was a choice that Tractel did some years back, you know, that that's too complex and too difficult market. They are focused really on where do they make money, you know, rather than saying that we want to be in this tallest structures.
That's why they have been moving more and more out of that and focusing more on mid and low height building, where they have more control, and then they also have had a different model, you know, where they have done more regional setup, managing the whole project, which I think also is something that clearly was a missing piece in the setup when it was coming in the group here, that it was split out on all the countries, you know. And manufacturing in one place, so you lost the connection of the project management, you know.
Mm-hmm.
Actually on the product side, we focus on different markets really. As you know, I have said since I started to get my hands a little bit more around facade access, that we can't just focus on the tall structures. We are also building up our offering, and focus on selling into the mid and low height area. That we have already started, and we have a nice range from before, but we have not really gained traction there yet. That takes time. This is where Tractel is strong and will be a very, very nice complement. Plus, of course, that they have a huge installed base. We have a huge installed base. All together, this also creates even a bigger service potential to service this installed base.
It creates an even bigger potential to refurbish and potentially also then in the end, replace this, you know? Because there's also installations that has been out there for quite a while.
Did you mention the installed base of Tractel and possibly if you could put that into context against your own installed base? Secondly, also, if you could just comment on the size of the order book and duration of order book in Tractel to just let us understand the potential raw material price risks, et cetera.
Yeah. We haven't gone out with these figures, but they have a very nicely growing order book, of course, and that's an important piece of their business. Even though, of course, also, you know, they also have this distribution business, which is not driven by so long order books. And to the question of how much of the installed base, I don't have a count of how many machines they have out there, but that's something we can come back to at a stage, you know? But of course, they have had a strong and good position in facade access for a long time, so they also have a significant base out there, which they serve some of it and some of it not.
Mm-hmm. Okay, thanks.
Thank you. Our next question comes from Kenneth Toll from Carnegie. Go ahead. Your line is now open.
Yeah. Thank you. A few questions. You create a different division for this new acquisition if I get it right. How will you then get synergies on the costs and on the commercial side with the other divisions?
Yeah. You know, it's both, yes and no, you know? Because initially, it will be brought in as a whole piece, you know? Of course, when we-
Mm-hmm.
When we will work on this, it will be to clearly define how we can move forward, you know, the synergies within construction, the synergies within the facade access, and the synergies within wind. That needs to come together in some way, you know. It's a work that we will do together when we are closing this deal. Of course, we have clear ideas on how that should be. It's the remaining piece, which is height safety and productivity tools, lifting and handling. These are new products or categories which we do not have in our group, and that will have-
Mm-hmm.
To be driven and will be driven as a separate standalone, you know, or, you know, as a new leg.
Mm-hmm.
Of course, you know, from a structural perspective wherever we see that we can do things together and save costs and, you know, utilize the common baseline structure, we will do.
Mm-hmm.
That's part of course, the synergy plan.
More accounting question maybe, but how large do you think the PPAs will be, or how much intangibles do you think you will load on your balance sheet through this acquisition?
Thomas here, Kenneth. Hi.
Yeah.
No, I mean, that's of course the part of the process when we come to the closing. We have an idea, but we are not actually there how much will be intangible and how much will be goodwill, et cetera. We have, of course, a picture of it, but we come back when we come closer to the closing.
Okay. Maybe an uncomfortable question. Alimak has made two larger acquisitions, historically, and both of them so far not delivered on the expectations in facade access that Alimak acquired. The order book was in much worse shape than was expected at the acquisition. In wind, sort of market outlook were completely different than what was sort of thought at the time of the acquisition. I know that there has been a lot of management changes and also changes to the board, but what have you done now in your due diligence work in order to make sure that this acquisition doesn't follow the route, same route as the two bigger ones that did not turn out very well?
Yeah, I think absolutely right, Kenneth. It's not an uncomfortable question. It's a good question, and it's, of course, a question that is important to me and I know well. That's been one of the main things since I came here, you know, that's been to reorganize the group and set up an effective model to drive this group, you know. A big thing there has been to get these two acquisitions back together and make clear, you know, P&L and responsibilities and understand the business model of how to drive it. That we have made the work, of course, and we are on the move.
Then for this new acquisition, of course, we have spent thorough time to understand what this business is over quite a long time. I feel very confident now that we are not moving into any of these old mistakes or things that they were not maybe fully understanding at that time. We are, you know, we have done that job, and I feel very confident that we will not, you know, yeah, move into these type the same problems as used to be.
Mm-hmm. Good. Is the Tractel management staying a while after the acquisition, or do they leave?
No, but that's of course also very important to me, you know, that we first of all make this acquisition, you know, financially, so it's a standalone thing. Then connected to that, the people is the most important asset. Of course, that's been one of the topics during this process that we want to take care of the key people and, you know, everyone in Tractel Group, but also top management, so that we are facilitating, yes. Then it's always like this, you know, you can never force people to stay. But we have a good understanding what we want to achieve and how to do this going forward, where they are part of it.
It's my job to make sure that they find it interesting to be here.
Mm-hmm. Yeah. Great. Also, Tractel have been making some acquisitions over the last number of years to consolidate their market. How consolidated is the market? Do you think that once you have integrated Tractel, that there is a possibility also to continue to consolidate that market?
Absolutely. That's not consolidated at all neither, you know.
Mm-hmm.
They made the Scanclimber acquisition, you know, in 2017. Then, in 2019, they made a little bit earlier this height safety in the U.S., you know. There's lots of space, very fragmented market, you know, in the height safety area. You know, so that opens up a much wider opportunity base for us, this acquisition, you know. Clearly, we in old Alimak Group have a very solid funnel of targets going forward, and that also exists within Tractel. That, as I say, you know, that's just expanding, you know. We are not stopping with this acquisition.
This is of course a big one we need to make sure we take care of, but we will continue to drive and make meaningful acquisitions going forward.
Okay. Thank you. That's all for me. Thanks.
Thank you.
Thank you. At this point in time, there are no further questions from the telephone line. I will hand over to speakers for any closing remarks. Go ahead.
Yeah. Thank you for listening in. It's vacation time so that you took the time off, I guess most of you, to listen in, and thank you for the questions. Of course, we are also available going forward as a management team here if there's more questions coming up. Please. Thank you for today and yeah, till next time.