Skip to content

Komas and Ruukki create Fortaco, Europe’s leading manufacturing partner for the engineering industry


CapMan Press Release 17 October 2012 at 9:00 a.m. EET

Komas and Ruukki create Fortaco, Europe’s leading manufacturing partner for the engineering industry

Funds managed by CapMan (CapMan) and Rautaruukki Corporation (Ruukki) have agreed to combine units of Komas and Ruukki’s Engineering division to form a new company through an asset deal. The new company is called Fortaco and will be Europe’s largest system and component manufacturer for the mechanical engineering industry. The transaction does not impact CapMan Group’s result or cash flow.

In 2012, Fortaco is expected to generate turnover (pro forma) of approx. €270 million and will have approx. 2,600 employees. The new company is formed through the combination of compatible and complementary units of Ruukki and Komas. Komas units in Jyväskylä will not be part of Fortaco and will continue to operate as an independent company under CapMan’s and other present ownership.

CapMan invested in Komas in 2007 and owns 82 per cent of the company’s shares. Under CapMan’s ownership the company has grown from a local enterprise to an international system supplier for the engineering industry. Komas currently generates turnover of approx. €124 million per year and employs approx. 1,500 persons in Finland, Poland and Estonia.

“When we originally invested in Komas, we envisaged building a leading contract manufacturing company in the mechanical engineering industry with the aptitude to grow and develop together with its customers. The transaction enables us to form a highly competitive company with state-of-the-art manufacturing operations in Finland, Poland, Estonia, Hungary and Slovakia. As a consequence, we are able to offer flexible and high quality services to customers both in the Nordic countries and in Continental Europe”, says Jan Mattlin, Partner, CapMan Buyout.

Fortaco’s customer base consists of the world’s leading engineering OEM’s, which benefit from a broader product and service offering. The company’s main products are high performing welded and machined components, ready-to-install operator cabins and fully-assembled machines and equipment.

Following the completion of the transaction, CapMan will become Fortaco’s largest shareholder with a 66.5% stake in the company. Ruukki will hold 19.0% of the company’s equity. The current CEO of Komas, Mika Kari, will become CEO of Fortaco and the management team will include members from both Ruukki and Komas. Fortaco’s complete management team and the composition of its Board of Directors will be announced in connection with the closing of the transaction.

“We are very satisfied with this agreed transaction. The arrangement strengthens the know-how of the new company and provides it with comprehensive production capacity in Eastern Europe in addition to Finland. Fortaco will become the largest manufacturing partner for the engineering industry in Europe, which allows us to better service our international customer base”, says Mika Kari, CEO of Komas.

The completion of the transaction is subject to approval from the competition authorities and is expected to be finalised during November 2012.

Additional information:
Jan Mattlin, Partner, CapMan Buyout, tel.+358 40 508 64 06
Mika Kari, CEO, Komas Group, tel. +358 40 531 97 58

Press and analyst conference:
Komas, Ruukki and CapMan will host a joint conference for the press and analysts starting at 11am at Event Arena Bank, Unioninkatu 20, Helsinki (room Meeting Point). The press conference will be held in Finnish.

Additional material available at

Komas (
Komas is a system supplier for the engineering industry. Its operations cover machining, assembly, hydraulics and logistics services. The company has facilities in six Finnish municipalities and factories in Poland and Estonia. The Komas Group employs approx.1500 people and its turnover in 2011 was MEUR 124.

Ruukki (
Ruukki provides its customers with energy-efficient steel solutions for better living, working and moving. Ruukki operates in some 30 countries and employs around 11,800 people. Net sales in 2011 totalled EUR 2.8 billion. The company’s share is quoted on NASDAQ OMX Helsinki (Rautaruukki Oyj: RTRKS).

CapMan is one of the leading private equity firms in the Nordic countries and Russia, with assets under management of €3.0 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. 110 people in Helsinki, Stockholm, Oslo, Moscow and Luxembourg. CapMan was established in 1989 and has been listed on the Helsinki Stock Exchange since 2001.