CapMan Press Release 9 June 2010 14.30 p.m. EET
CapMan exits Foreca
Funds managed by CapMan have sold their minority holding in Foreca Oy to the company and its management team. The exit will not have a substantive impact on CapMan Plc’s result for 2010.
Founded in 1996, Foreca is Finland’s first privately owned weather service company and the largest privately owned business in the field in the Nordic region, and serves customers worldwide today. The Finnventure IV, Finnventure V, and Finnventure V ET funds managed by CapMan invested in Foreca in 2000.
“Foreca’s growth and financial development have progressed well in recent years. Based on our experience as a long-term investor in the company, we believe that Foreca is well-placed to continue its successful operation in the future,” says CapMan Senior Partner, Petri Saavalainen.
For further information, please contact:
Petri Saavalainen, Senior Partner, CapMan, tel. +358 (0)500 415 911
Jarkko Virtanen, CapMan Advisor, tel. +358 (0)40 547 6945
CapMan www.capman.com
CapMan is one of the leading alternative asset managers in the Nordic countries and Russia and manages private equity funds with approximately EUR 3.6 billion in total capital. CapMan has six investment areas (CapMan Buyout, CapMan Technology, CapMan Life Science, CapMan Russia, CapMan Public Market and CapMan Real Estate), and each of them has a dedicated team and funds. Altogether CapMan employs approximately 150 people in Helsinki, Stockholm, Copenhagen, Oslo and Moscow. CapMan was established in 1989 and its B shares are listed on the Helsinki Stock Exchange since 2001.
