CapMan press release – 28 December 2012 at 9:00 am EET
The agreement to create Fortaco from Komas’ and Ruukki’s units is finalised
Funds managed by CapMan (CapMan) and Rautaruukki Corporation (Ruukki) agreed in October to combine units of Komas and Ruukki’s Engineering division to form a new company called Fortaco. The agreement has now been finalised. Fortaco becomes Europe’s largest manufacturing partner for the engineering industry.
CapMan is Fortaco’s largest owner with a 66.5% stake. Ruukki will hold 19.0% of the company’s equity. MSc (Industrial Engineering and Management) Mika Kari has been appointed Fortaco’s CEO. In addition, the management team comprises Esko Harila (CFO), Erik Skogström, Ville Jaakkola, Jukka Mäkelä, Tomas Forsgård and Juha Simola. The Board of Directors comprises representatives designated by CapMan, Peter Augustsson (Chairman), Jan Mattlin and Lars Hellberg, members designated by Ruukki, Mikko Hietanen and Marko Somerma and in addition Jukka-Pekka Nikula.
The company is formed through the combination of compatible and complementary units of Ruukki and Komas. Komas’ units excluded from the arrangement will continue to operate as an independent company, Komas Keski-Suomi, with Antti Jokitalo as new CEO and under CapMan’s and other present ownership.
Additional information:
Jan Mattlin, Partner, CapMan Buyout, tel.+358 40 508 64 06
Mika Kari, CEO, Fortaco, tel. +358 40 531 97 58
Fortaco www.fortacogroup.com
Fortaco is Europe’s largest manufacturing partner for the engineering industry. The company’s main products are high performing welded and machined components, ready-to-install operator cabins and fully-assembled machines and equipment for the world’s leading engineering OEMs. The company employs 2,600 persons at 11 sites in Finland, Poland, Estonia, Hungary and Slovakia. Expected pro forma net sales for 2012 are EUR 270 million.
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.
