CapMan Press Release – 11 January 2013 16:15 EET
CapMan exits IT2 Treasury Solutions
CapMan Technology 2007 funds managed by CapMan and other owners of IT2 Treasury Solutions (IT2) have sold 100 percent of IT2’s shares to Wall Street Systems. Prior to the transaction, funds managed by CapMan owned approximately 86 percent of IT2’s equity. The transaction has no substantive impact on CapMan’s financial results for 2012 or 2013 as the selling funds are not in carry. IT2 has been a very good investment for investors in funds managed by CapMan.
IT2 provides treasury management software and services for large corporations and small and mid-sized financial institutions. The company is headquartered in London and has offices in Copenhagen, Amsterdam, New York and Hong Kong. CapMan Technology 2007 L.P. Fund and CapMan Technology 2007 B KB Fund invested in IT2 in July 2007. During the funds’ holding period, IT2’s revenue increased at CAGR of 17%.
“IT2 was a very successful investment for the CapMan Technology 2007 funds and we are pleased with the opportunity to develop the company into a significant treasury management service provider. We invested in IT2 primarily because of the company’s competitive product, strong reputation and international growth opportunities. The business has developed even faster than we initially expected, especially in the United States, and profitability has remained high throughout CapMan’s investment period,” says Tommy Valther Hansen, IT2’s Chairman of the Board.
“The company’s prospects to continue its successful operations as part of a larger group remain excellent,” says Vesa Walldén, Head of CapMan Technology and Senior Partner.
For further information, please contact:
Tommy Valther Hansen, Chairman of the Board, IT2 Treasury Solutions, tel. + 45 29 41 14 80, email tommy.valther.hansen@capman.com
Vesa Walldén, Senior Partner, CapMan Technology, tel. +358 207 207 561, email vesa.wallden@capman.com
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. 120 people in Helsinki, Stockholm, Oslo, Moscow and Luxembourg. CapMan was established in 1989 and has been listed on the Helsinki Stock Exchange since 2001.
