CapMan Press Release 1 July 2010 at 8.00 a.m.  EET

CapMan Buyout IX fund closes at EUR 294.6 million

Disclaimer
This press release may not be copied or forwarded on by any person. This notice is not an offer of securities for sale in the United States or to a US person. The securities described in this notice have not been registered under the United States Securities Act of 1933 and may not be offered or sold in the United States or to a US person absent registration or an applicable exemption from the registration requirements. The terms “United States” and “US person” each have the meanings set forth in Regulation S promulgated under the United States Securities Act of 1933.  

CapMan Buyout IX fund has held its final closing at EUR 294.6 million. The CapMan Buyout IX fund invests in middle market buyout transactions in the Nordic countries. The new capital raised in the final fundraising round will have a slightly positive impact on the management fees that the fund pays to CapMan Plc.  

Investors in the fund comprise flagship institutional investors, primarily from the Nordic region but also from Central Europe and the US. CapMan’s own commitment to the fund is EUR 13 million.

“Investments made by institutional investors in private equity funds fell by 80% in Europe in 2009 compared to year 2008 and the fundraising environment continues to be challenging. As a result, we very much appreciate the confidence that Nordic and international institutional investors have continued to place in CapMan and the new investors that the CapMan Buyout IX fund has attracted,” says Jerome Bouix, CapMan Plc’s Deputy CEO and Senior Partner responsible for fundraising for CapMan funds.

To date, the CapMan Buyout IX fund has invested in Swedish-based Metals and Powders Thomas Klier AB and two Finnish companies, Esperi Care Oy and Havator Group Oy. Metals and Powders is a family firm specialising in metal powders and crushed metal products, Esperi Care is a leading company in the care sector in Finland, and Havator is one of the Nordic region’s leading suppliers of crane services, special transports, section assembly and harbour crane services.

“The completion of fundraising for the second-largest buyout fund in CapMan’s over 20-year history gives us a good foundation to continue our Nordic investment strategy. In addition to the three investments that we have already made, we intend making five to seven further investments in medium-sized companies that we believe have the best growth opportunities in their sectors. The Nordic M&A market has improved compared to last year and we have already made two new investments this year, exited four companies, and completed the listing of our portfolio company MQ on NASDAQ OMX Stockholm,” says the Head of the CapMan Buyout and Senior Partner Tuomo Raasio.

During the CapMan Buyout IX fund’s investment period the management fee paid by the fund to CapMan is based on the fund’s final size and thereafter on the acquisition cost of the remaining portfolio. If the fund transfers into carry in the future, the division of the fund’s cash flows will be 80% to investors, 10% to CapMan Plc and 10% to the investment team responsible for the fund’s investment activities during its life cycle.

For further information, please contact:
Jerome Bouix, Deputy CEO, CapMan Plc, Senior Partner, tel. +358 207 207 558 or +358 40 820 8541
Tuomo Raasio, Head of CapMan Buyout, Senior Partner, tel. +358 207 207 505 or +358 400 405 682

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 approximately150 people in Helsinki, Stockholm, Copenhagen, Oslo and Moscow. CapMan was established in 1989 and its B shares have been listed on the Helsinki Stock Exchange since 2001.