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                                                                    Exhibit 4.15

                              VENDOR LOAN AGREEMENT

                  SUBJECT TO THE TERMS OF AN INTERCREDITOR DEED


                                     between

                                    NOBIA AB

                                  (as Borrower)


                                       and


                                   ENODIS PLC

                                   (as Lender)


                  ---------------------------------------------

                                 GBP 20,000,000
                              VENDOR LOAN FACILITY

                  ---------------------------------------------



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CONTENTS

Clause                                                                   Page

1.      INTERPRETATION ................................................     2

2.      PAYMENT UNDERTAKING ...........................................     4

3.      STATUS OF THIS AGREEMENT ......................................     4

4.      CONDITIONS PRECEDENT ..........................................     4

5.      INTEREST PERIODS ..............................................     4

6.      INTEREST ......................................................     5

7.      DEFAULT INTEREST ..............................................     6

8.      REPAYMENT AND VOLUNTARY PREPAYMENT ............................     6

9.      MANDATORY PREPAYMENT ..........................................     7

10.     REPRESENTATIONS AND WARRANTIES ................................     7

11.     INFORMATION ...................................................     8

12.     PAYMENTS ......................................................     9

13.     EVENTS OF DEFAULT .............................................    10

14.     NOTICES .......................................................    11

15.     ASSIGNMENT ....................................................    11

16.     GOVERNING LAW AND JURISDICTION ................................    12

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THIS AGREEMENT is made 14 June 2001

BETWEEN:

(1)       NOBIA AB, P O Box 5436, SE-402 29 Goteborg, Sweden, a company
          incorporated under the laws of Sweden with company registration number
          556528-2752 (the "Borrower"); and

(2)       ENODIS PLC, 1 Farnham Road, Guildford GU2 4RG, United Kingdom (a
          company incorporated under the laws of England with company
          registration number 109849) (the "Lender").

WHEREAS:

(A)       The Lender and certain persons (the "Vendors") on the one hand and
          Inhoco 2297 Limited ("Inhoco") on the other, have entered into a sale
          and purchase agreement dated 20 April 2001 ("the Sale and Purchase
          Agreement") whereby the Vendors agree to sell and Inhoco agrees to
          purchase inter alia the Magnet Shares (as defined in the Sale and
          Purchase Agreement).

(B)       This Agreement is made in favour of the Lender to part finance the
          acquisition under the Sale and Purchase Agreement as prescribed in
          Clause 4.3 of the Sale and Purchase Agreement and will be executed on
          completion of the Sale and Purchase Agreement.

(C)       The Borrower has requested that the Lender shall agree that a part of
          the consideration for the acquisition under the Sale and Purchase
          Agreement in the amount of GBP 20,000,000 shall remain outstanding as
          a loan from the Lender to the Borrower and the Lender has agreed to
          this on the terms and conditions set out herein.

1.        INTERPRETATION

1.1       The following words and phrases shall bear the meanings set out
          opposite them when used in this Agreement:

          "Agreement" means this agreement;

          "Business Day" means a day on which banks are open for business in
          London and Stockholm;

          "Change of Control" means Industri Kapital 94 Limited, on its own
          account or as general partner or agent on behalf of certain entities
          (investors), ceasing to hold more than 40 per cent of the equity in
          the Borrower;

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          "Closing Date" means the date when this Agreement has been duly signed
          by the Borrower and the Lender;

          "Event of Default" means any of the events listed in Clause 13;

          "Existing Mezzanine Facility" means the mezzanine facility agreement
          dated 30 September 1996, entered into between the Borrower and
          Intermediate Capital Group plc as amended or restated, as the case may
          be;

          "Final Maturity Date" means the 8/th/ anniversary of the Closing Date;

          "Flotation" means the admission to listing of the ordinary shares of
          the Borrower on any internationally recognised public stock exchange
          or market, for the public trading of shares, anywhere in the world;

          "Intercreditor Deed " means the intercreditor deed made on or about
          the date hereof and entered into between the Original Borrowers, the
          Original Guarantors, the Parent, the Senior Lenders, the Mezzanine
          Lenders, the Facility Agent, the Mezzanine Agent, the Security Agent
          (each as defined therein) and the Lender an executed copy of which is
          attached hereto as Exhibit 1.1, or as amended, restated, or novated or
                             -----------
          as replaced by another intercreditor deed or inter-creditor agreement
          pursuant to the terms and conditions of the above Intercreditor Deed
          or otherwise as agreed between the parties thereto;

          "Interest Period" has the meaning set forth in Clause 5;

          "Loan" means the principal amount of credit of GBP 20,000,000 (twenty
          million pounds sterling) under this Agreement and for the time being
          outstanding;

          "Margin" means 3.5 per cent per annum;

          "Senior Liabilities" means all present and future amounts, liabilities
          and obligations payable owing, due or incurred by the Borrower which,
          in accordance with the terms of the Intercreditor Deed, rank in
          priority to the rights of the Lender against the Borrower under or in
          respect of the Loan; and

          "Trade Sale" means the private sale of the entire share capital of the
          Borrower to a bona fide arm's length purchaser.

1.2       The Loan is "outstanding" unless it has been redeemed in full.

1.3       "Sterling" and "GBP" denote the lawful currency of the United Kingdom.

1.4       Capitalised terms used herein shall have the meaning ascribed to such
          term in the Sale and Purchase Agreement unless otherwise defined
          herein or the context requires otherwise.

1.5       The headings in this Agreement do not affect its interpretation.



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1.6       A person who is not a party to this Agreement has no right under the
          Contracts (Rights of Third Parties) Act 1999 to enforce or enjoy the
          benefit of any term of this Agreement.

2.        PAYMENT UNDERTAKING

          The Borrower hereby promises to pay to the Lender the Loan and all
          interest accrued thereon in accordance with the terms of this
          Agreement.

3.        STATUS OF THIS AGREEMENT

3.1       This Agreement constitutes direct, general, unsecured and
          unconditional obligations of the Borrower, subordinated in accordance
          with the terms of the Intercreditor Deed.

3.2       In case of any conflict between the terms and provisions of the
          Intercreditor Deed and this Agreement the terms and provisions of the
          Intercreditor Deed shall supersede and take precedence over the terms
          and provisions of this Agreement.

4.        CONDITIONS PRECEDENT

          This Agreement is subject to the Lender having received and found
          satisfactory the conditions precedent set out below:

          (i)   a certified true copy of minutes from a meeting with the board
                of directors evidencing the due authorisation of the
                signatory(ies) to this Agreement to bind the Borrower;

          (ii)  a copy of the Intercreditor Deed, duly executed by each person
                that is to be a party thereto, which deed shall be in full force
                and effect on the Closing Date; and

          (iii) evidence that the agent for service of process as prescribed in
                Clause 16 has been duly appointed.

5.        INTEREST PERIODS

5.1       The Borrower may select an Interest Period for the Loan in a notice in
          writing to the Lender no later than 11.00 a.m. (London time) three (3)
          Business Days prior to the commencement of each Interest Period,
          specifying the duration of the Interest Period provided that the first
          two Interest Periods shall each be for a

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          period of three months. If no such notice has been received in due
          time, the Borrower shall be deemed to have selected an Interest Period
          of three (3) months.

5.2       Subject to Clause 5.1 providing that the first two Interest Periods
          shall be three months, each Interest Period will be three, six or
          twelve months at the option of the Borrower, unless otherwise agreed
          between the parties.

5.3       The first Interest Period shall commence on the Closing Date and each
          consecutive Interest Period shall commence the day after the expiry of
          the preceding Interest Period. The Borrower shall procure that, unless
          the Loan is previously repaid or cancelled, the final Interest Period
          ends on or before the Final Maturity Date.

5.4       For the purposes of determining an Interest Period, a month shall mean
          a period starting on one day in a calendar month and ending on the
          numerically corresponding day in the next calendar month; provided,
          however, that if there is no numerically corresponding day in the
          month in which the period for such Interest Period is to end then such
          Interest Period shall end on the last Business Day of the calendar
          month in which such period is to end.

5.5       Whenever the last day of an Interest Period would otherwise be a day
          that is not a Business Day, the last day of such Interest Period shall
          be extended to the next succeeding Business Day, provided that, if
          such extension would cause the last day of such Interest Period to
          occur on the following calendar month, the last day of such Interest
          Period shall be the immediately preceding Business Day.

5.6       Interest shall be calculated for each number of days actually elapsed
          on the basis of a year which consists of 365 days.

6         INTEREST

6.1       In this Agreement, the term "LIBOR" means for any Interest Period:

          (i)     an interest rate per annum determined on the basis of the
                  London interbank offered rate for deposits in GBP for a period
                  equal to such Interest Period commencing on the first day of
                  such Interest Period, as shown on the page which displays the
                  British Bankers Association Interest Settlement Rate (Page
                  3750 or such other page as may replace that page in that
                  service) on Dow Jones Market Service (or otherwise on such
                  service) at approximately 11:00 a.m., London time on the first
                  day of such Interest Period; or



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          (ii)    if the rate as mentioned in (i) above is not available on the
                  page specified (or such other page as may replace that page
                  from time to time) or if the British Bankers Association
                  Interest Settlement Rate is not available on another service,
                  the rate specified by the Lender as representing its costs of
                  funds from time to time.

 6.2      The Borrower shall pay to the Lender interest on the Loan at a rate
          per annum which is the sum of the LIBOR applicable to the Loan and the
          Margin, payable on the last day of each Interest Period and on the
          Final Maturity Date and at any prepayment date pursuant to Clause 8 or
          9 hereinbelow, as the case may be.

 7.       DEFAULT INTEREST

 7.1      If any payment of principal or interest on the Loan, or any other
          amount becoming due under this Agreement, is not paid when due, the
          Borrower shall pay to the Lender default interest ("Default Interest")
          on the Loan or such other amount (each an "Unpaid Amount") at a rate
          of the sum of LIBOR plus the Margin plus two (2) per cent per annum.
          Default Interest shall be payable on each Unpaid Amount from the
          agreed due date until the actual date of payment (as well after as
          before judgment) and shall be paid on demand made by the Lender from
          time to time.

 7.2      The provision of Clause 5.6 shall apply correspondingly to the
          calculation of Default Interest.

 7.3      If Default Interest has accrued for a period of longer than one month
          and has not been paid to the Lender, the Lender may (but shall be
          under no obligation to) notify the Borrower that it requires the
          amount of such Default Interest to be capitalised and added to the
          Loan and Default Interest will be payable on the new amount of the
          Loan at the rate specified in Clause 7.1 and on the terms set out
          therein.

 8.       REPAYMENT AND VOLUNTARY PREPAYMENT

 8.1      To the extent not previously repaid, the Loan shall be repaid on the
          Final Maturity Date, together with all accrued interest up to but
          excluding such date and any other sums then outstanding under this
          Agreement.

 8.2      The Borrower may, subject to it having given the Lender at least ten
          (10) Business Days prior written notice, at any time prepay the Loan
          in whole or in part (but if in part in a minimum amount of GBP
          1,000,000). In the event such voluntary prepayment is made during the
          first or the second year after the Closing Date, the Borrower shall
          pay the Lender a prepayment fee. Such fee shall, (i)



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     where prepayment is made on or before the first anniversary of the Closing
     Date, be GBP 800,000 or (ii) where prepayment is made before the second
     anniversary of the Closing Date but after the first anniversary of the
     Closing Date be, GBP 400,000.



9.   MANDATORY PREPAYMENT

9.1  The Borrower shall upon the occurrence of (i) a Trade Sale or (ii) a
     Flotation or (iii) a Change of Control prepay the Loan, together with
     accrued interest and fees and any other sums then outstanding under this
     Agreement in accordance with the provisions of this Clause 9.

9.2  The Borrower shall without undue delay and, in any event, at least ten
     Business Days prior to completion thereof inform the Lender through written
     notice of the occurrence of a Trade Sale or a Flotation or a Change of
     Control.

9.3  Following a notice from the Borrower pursuant to Clause 9.2, the Lender
     shall be entitled to send a written notice to the Borrower requesting
     payment and specifying the account to which repayment of the Loan shall be
     made.

9.4  The Borrower shall then be obliged, within thirty (30) days of the date of
     the notice in Clause 9.3, to prepay the Loan together with accrued interest
     and the fees and any other sums outstanding under this Agreement. Further,
     the Borrower shall always be entitled to repay the Loan at any time to the
     account specified in Clause 12 (unless in receipt of instructions that
     payment shall be made to another account as specified by the Lender in the
     notice delivered to the Borrower pursuant to Clause 9.3).

9.5  In the event mandatory prepayment is made pursuant to this Clause 9, during
     the first or the second year after the Closing Date, the Borrower shall pay
     the Lender a prepayment fee. Such fee shall, (i) where prepayment is made
     on or before the first anniversary of the Closing Date, be GBP 800,000 or
     (ii) where prepayment is made before the second anniversary of the Closing
     Date but after the first anniversary of the Closing Date be, GBP 400,000.

10.  REPRESENTATIONS AND WARRANTIES

     The Borrower represents and warrants on the date hereof:

     (i)  it is a limited liability company duly incorporated under the laws of
          the Kingdom of Sweden;


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     (ii)   the acceptance of the terms and the execution of this Agreement have
            been duly authorised by all necessary corporate and other (as
            appropriate) actions and the performance of the obligations of it
            under this Agreement does not contravene its constitutional
            documents, any material agreement to which it is a party or which is
            binding upon it or any of its assets or any applicable law,
            regulation or official or judicial order and all necessary
            governmental and other regulatory consents necessary to enter into
            this Agreement have been obtained and are in full force and effect;

     (iii)  this Agreement constitutes valid, legal, and binding obligations of
            it enforceable in accordance with its terms;

     (iv)   no material litigation, arbitration or similar administrative
            proceeding is taking place or pending against it;

     (v)    it is not in default under any agreement or contract to which it is
            a party or which is binding upon it which default would materially
            adversely affect its ability to duly perform and observe its
            obligations under this Agreement;

     (vi)   it has not created any encumbrance upon any of its assets in respect
            of any indebtedness except such encumbrances as are created or
            permitted by the terms applicable to such debt of the Borrower as
            ranks prior to the debt under this Agreement pursuant to the
            Intercreditor Deed;

     (vii)  no stamp or other taxes or fees with respect to the preparation,
            execution, delivery, filing, recording or registering by the
            Borrower or the Lender of this Agreement are required by Sweden or
            any authority thereof or therein including but not limited to taxing
            and fiscal authorities;

     (viii) it has not borrowed any other money which ranks in priority to the
            Loan other than the Senior Liabilities and all amounts due under the
            Existing Mezzanine Facility; and

     (ix)   it has good title to or valid leases or licences of or is otherwise
            entitled to use all of its material assets necessary to carry on its
            business as presently conducted.



11.  INFORMATION

     So long as this Agreement is and will remain in force or any sum is payable
     under this Agreement the Borrower shall:


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       (i)     as soon as the same become available, but in any event within six
               (6) months after the end of each of its financial years, deliver
               to the Lender its consolidated audited financial statements for
               such financial year together with the consolidated financial
               statements for the immediate prior financial year of the
               Borrower;

       (ii)    not later than forty-five (45) days after the end of the
               respective balance day deliver to the Lender its interim
               quarterly consolidated financial statements; and

       (iii)   provide the Lender with such general information as is required
               by law to be supplied or made available to all or any class of
               shareholders (in their capacity as such) of the Borrower, or its
               creditors generally.

12.    PAYMENTS

12.1   All amounts to be paid under this Agreement by the Borrower to the Lender
       shall be paid on the due dates thereof in GBP in immediately available
       funds by not later than 11.00 a.m. (London time) or such other time as
       may become customary, to the Lender's account with National Westminster
       Bank plc, 23 Hall Quay, Great Yarmouth, Norfolk NR30 IHQ, sort code-
       55-81-45, account No. 01122762 or to such other account in London as may
       from time to time be notified in writing by the Lender to the Borrower;
       and any payments to be made by the Lender hereunder to the Borrower, if
       any, shall be paid not later than 11:00 a.m. (London time) on the due
       dates thereof in GBP in immediately available funds.

12.2   If a date on which any amount under this Agreement is due and payable is
       not a Business Day then the date for payment of such amount shall
       automatically be deferred to the next succeeding Business Day, unless it
       would thereby fall in the next calendar month, in which case it shall
       instead fall on the immediately preceding Business Day.

12.3   All payments to be made by a party under this Agreement (whether in
       respect of principal, interest or otherwise and including the additional
       amount mentioned hereafter in this Clause 12.3) shall be made in full
       without such party being entitled to any set-off or counterclaim and
       shall be made free and clear of and without deduction or withholding for
       or on account of any present or future income or other taxes. However, if
       such party shall be required by law or regulation to make any deduction
       or withholding from any payment for the account of the other party under
       this Agreement then such party will ensure that such deductions or
       withholdings do not exceed the respective minimum legal liabilities
       therefor and will forthwith pay to the other party such additional
       amounts as will result in the net receipt by the other party (free and
       clear of any


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     such deductions and withholdings) of the full amount which would otherwise
     have been received had no such deductions or withholdings been made.

13.  EVENTS OF DEFAULT

     There shall be an Event of Default if:

     (i)    the Borrower fails to pay any sum payable under this Agreement when
            due or otherwise in accordance with the provisions in this Agreement
            unless the failure to pay is caused by administrative or technical
            error and payment is made within two (2) Business Days of the due
            date;

     (ii)   any borrowed money of the Borrower is not paid when due or any
            borrowed money has been demanded by a creditor to be immediately due
            and payable before its stated maturity as a result of a event of
            default (howsoever described) (provided, however, that such borrowed
            money in all cases above in this Clause 13 (ii) exceeds GBP
            5,000,000 or the equivalent in any other currency);

     (iii)  the Borrower or any other person petitions or applies to any court
            for the appointment of, or there shall otherwise be appointed any
            receiver (Sw.: konkursforvaltare), liquidator (Sw.: likvidator), or
            other similar officer of the Borrower or of all or any material part
            of the Borrower's assets and such petition if filed by a person
            other than the Borrower is not discharged within 21 days; or

     (iv)   the Borrower becomes or is declared by any competent authority to be
            insolvent or admits in writing its inability to pay its debts as
            they fall due or is or becomes subject to or applies for any
            suspension of payment, bankruptcy (Sw.: konkurs), reorganisation
            proceedings (Sw.: foretags-rekonstruktion) or dissolution or
            liquidation proceedings (Sw.: likvidation), if such inability in the
            reasonable opinion of the Lender materially adversely affects the
            Borrower's ability duly to perform its obligations hereunder;

     then, in any such event and at any time thereafter the Lender may, subject,
     however, to it being permitted under the terms of the Intercreditor Deed,
     by written notice to the Borrower declare the Loan and all or any accrued
     interest, fees and other amounts payable under this Agreement to be
     forthwith due and payable whereupon these amounts shall become immediately
     due and payable without further demand or other notice of any kind being
     necessary.

                                       9

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14.   NOTICES

      All notices or other communications under or in connection with this
      Agreement shall be in writing and shall be delivered personally or by mail
      or confirmed telefax transmission and shall be deemed to be duly given or
      made when delivered (in case of personal delivery or mail) and when
      despatched (in the case of telefax) and shall be addressed to:

      (a)  if to the Lender:

           Enodis plc
           1 Farnham Road
           Guildford GU2 4RG
           United Kingdom
           Fax: +44 1483 549580
           Attention: Andrew Allner/David Hooper


      (b)  if to the Borrower:

           Nobia AB
           P O Box 5436
           SE-402 29 Goteborg
           Sweden
           Fax: +46 31 703 53 60
           Attention: Finance Director

15.   ASSIGNMENT

15.1  The Lender may not assign or transfer all or any rights and obligations
      under this Agreement without (i) the prior written consent of the
      Borrower, which consent shall not unreasonably be withheld or delayed, it
      being understood that it will be reasonable for the Borrower to withhold
      its consent if it considers that the transferee is not a reputable
      financial institution, and (ii) the relevant assignee becomes a party to
      the Intercreditor Deed and acknowledges all the rights and obligations
      created thereunder.

15.2  In the event the Lender wants to assign or transfer a part of the rights
      and obligations under this Agreement, such assignment or transfer may not
      be made unless such part of the Loan to be assigned or transferred
      exceeds GBP 10,000,000.

15.3  The Borrower may not assign or transfer its obligations hereunder without
      the consent of the Lender.


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16.    GOVERNING LAW AND JURISDICTION

16.1   This Agreement and its performance shall be governed by and construed in
       accordance with the laws of England.

16.2   The Borrower and the Lender hereby irrevocably and expressly submit to
       the non-exclusive jurisdiction of the Courts of England. This submission
       shall not (and shall not be construed so as to) limit the right of the
       Lender to take proceedings as it deems fit against the Borrower or any of
       its assets in any court in Sweden, which may otherwise exercise
       jurisdiction over the Borrower and/or any of its assets.

16.3   For the purpose of this Agreement and any opinion or document
       contemplated hereby or thereby, the Borrower elects as its agent for
       service of process in England:

       Advokatfirman Vinge KB
       43 New Broad Street
       London EC2M 1JD, England
       Att: Maria-Pia Midenback Hope

16.4   The Borrower irrevocably agrees to maintain its agent for service of
       process in England at all times during the validity of this Agreement and
       as long as any amount is outstanding or due or contingently due. The
       Borrower may change its agent for service of process in England. Should
       for any reason beyond the Borrower's control the elected agent for
       service of process no longer be suitable for the purpose mentioned in
       Clause 16.3 then the Borrower shall forthwith elect another suitable
       agent for service of process within England. The Borrower shall then
       immediately notify the Lender thereof in writing.

                             ______________________


IN WITNESS whereof the parties hereto have caused this Agreement to be duly
executed in two counterparts on the day and the year first written above.

Place:                                    Place:

NOBIA AB                                  ENODIS PLC


/s/ Lennart Rappe                         /s/ Peter Brooks
---------------------------               ----------------------------
Lennart Rappe                             Peter Brooks

/s/ Fredrik Cappelen
---------------------------
Fredrik Cappelen