CapMan Press release 17 November 2010 3.00 p.m. CET
CapMan Life Science invests in Swereco
The CapMan Life Science IV fund has decided to invest in Swereco AB, the Swedish producer of ergonomic products primarily designed for the physically challenged. The investment is intended to accelerate the company’s expansion in the Nordic region and strengthen its existing business model.
Founded in 1973, Swereco produces a wide range of products for people with limited mobility and functional disabilities, including crutches and walking frames as well as ergonomic products for bathrooms and kitchens. Swereco recorded net sales of approx. EUR 5.5 million in 2009. The company has its head office in Stockholm, while production is based in Lenhovda in southern Sweden.
“Working together with Swereco’s other owners and the company’s management, we plan to develop Swereco’s offering and its sales and distribution channels in order to support further expansion, particularly in the Nordic region.” says CapMan Partner and Head of CapMan’s Life Science team, Johan Bennarsten.
“We need a strong partner for the next stage in our growth and are excited that CapMan has decided to invest in Swereco and give us access to their Nordic network and healthcare expertise. I believe that the investment will enhance our potential to offer our customers well-designed quality products for making them more mobile and making it easier for them to continue living at home.” says Ulf Groth, Swereco’s Managing Director and one of the company’s owners.
The CapMan Life Science IV fund will together with Svenskt Företagskapital be the main owners in Swereco following the investment. CapMan Plc is a major investor in the CapMan Life Science IV fund.
Further information:
Johan Bennarsten, Partner and Head of the CapMan Life Science Team, tel. +46 8 545 854 72 or +46 707 49 56 59
Ulf Groth, Managing Director, Swereco AB, tel. +46 8 444 38 24 eller +46 70 788 98 98
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, Moscow and Luxembourg. CapMan was established in 1989 and its B shares are listed on the Helsinki Stock Exchange since 2001.
