CapMan press release 11 December 2012 at 1:30 pm EET
European Commission clearance for the agreement to create Fortaco from Komas’ and Ruukki’s units
Funds managed by CapMan (CapMan) and Rautaruukki Corporation (Ruukki) agreed in October to combine units of Komas and units of Ruukki Engineering division to form a new company called Fortaco. The agreement has now received European Commission clearance and is expected to be finalised by the end of 2012. Fortaco becomes Europe’s largest manufacturing partner for the engineering industry.
Additional information:
Jan Mattlin, Partner, CapMan Buyout, tel.+358 40 508 64 06
Mika Kari, CEO, Komas Group, tel. +358 40 531 97 58
Komas www.komas.fi
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 www.ruukki.com
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 www.capman.com
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.
