CapMan Plc Stock Exchange Release 4 May 2011 9:55. a.m. EET

CapMan sells Proxima to Aleris, impact on CapMan’s result for 2011 approximately EUR 4.8 million

The funds managed by CapMan and the other owners of Proxima Intressenter AB will sell their shareholding in Proxima Intressenter AB to the private healthcare service provider Aleris. CapMan funds’ ownership in Proxima amounts to approximately 70%. The exit will have an approximately EUR 4.8 million impact on CapMan Plc’s result for 2011 as a result of income on own fund investments. In addition the transaction is expected to have an approximately EUR 8.1 million impact on CapMan Plc Group’s cash flow in 2011. The closing of the transaction is subject to the approval of competition authorities and it is expected to be finalised during the second quarter 2011. The exit will not change CapMan’s result guidance for 2011 given on 4 May 2011.

Proxima is a private healthcare company including primary care, diagnostics, specialist care, occupational care and rehabilitation. CapMan made its initial investment in Proxima on 1 August 2007, when the private healthcare service provider Nacka Närsjukhus Proxima AB was acquired from the company’s founders and Praktikertjänst AB. The initial investment has been followed by 16 add-on investments (add-on acquisitions and won tenders), supporting the company’s growth into a full scale health care service provider. During CapMan’s ownership Proxima’s turnover has grown from EUR 19 million in 2007 to EUR 110 million (budget) for 2011. The investment has been very good for investors in CapMan funds. CapMan’s Buyout and Life Science teams have successfully combined their expertise in this investment.

“CapMan’s and the management’s shared vision has been to build a full scale health care service provider. We have now achieved this goal and I want to thank the company’s management and personnel for a job well done. I am very pleased with the transaction and I am convinced that Aleris is dedicated to further develop Proxima,” says Mats Gullbrandsson, Partner CapMan Buyout.

“The acquisition of Proxima is strategically important for Aleris as it strengthens our position in the Swedish and Nordic markets. Through the acquisition, we broaden our offering in specialist care and strengthen our positions within primary care and local health care services. Proxima also adds new competencies in terms of primary care rehabilitation and occupational health. We are looking forward to further developing the company in close cooperation with its management and employees”, comments Stanley Brodén, CEO of Aleris.

The funds exiting Proxima are CapMan Buyout VIII, CapMan Life Science IV and CapMan Mezzanine IV. CapMan is a substantial investor in all these funds, and as a consequence of these fund investments the impact of the transaction on CapMan Plc Group’s cash flow is expected to be approximately EUR 8.1 million in 2011.

Carnegie Investment Bank acted as financial advisor, Advokatfirman Vinge KB acted as legal advisor and KPMG provided transaction support services in connection to the transaction.

For further information, please contact:
Mats Gullbrandsson, Partner, CapMan Buyout, +46 8 545 854 81 or +46 734 40 84 88
Johan Bennarsten, Partner and Head of the CapMan Life Science, +46 8 545 854 72 or +46 707 49 56 59
Niko Haavisto, CFO, CapMan, +358 207 207 583 (CapMan financials)

CAPMAN PLC    

Mari Reponen
Communications Director                       




DISTRIBUTION
NASDAQ OMX Helsinki
Principal media
www.capman.com

CapMan
CapMan is one of the leading private equity firms in the Nordic countries and Russia, with assets under management of €3.4 billion. CapMan has four key investment partnerships – CapMan Buyout, CapMan Russia, CapMan Public Market, and CapMan Real Estate – each of which has its own dedicated investment team and funds. Altogether, CapMan employs approx. 140 people in Helsinki, Stockholm, Oslo, Moscow and Luxembourg. CapMan was established in 1989 and has been listed on the Helsinki Stock Exchange since 2001. www.capman.com

Proxima
Proxima is a private healthcare provider of primary care, diagnostics, specialist care, rehabilitation and occupational health care. Operations are concentrated to the Stockholm area, but the company is also active in the Uppsala, Östergötland and Skåne regions.