CapMan Press Release – 13 February 2014 at 10.00 a.m.
CapMan invests in LämpöLux – the leading provider of turnkey window and door renovations in Finland
Funds managed by CapMan have invested in Suomen Lämpöikkuna Oy, best known for its service brand LämpöLux – the leading provider of turnkey window and door renovation solutions in Finland. The current management remains a significant minority owner in the transaction, which aims to further expand the market position of LämpöLux in Finland.
Suomen Lämpöikkuna Oy was established in 2010, and its service brand LämpöLux has since then grown fast into the market leader of its segment, providing turnkey window and door renovation solutions to household customers. The company’s success is based on strong concept know how, a wide direct sales network and comprehensive tailor-made service according to customer preferences. The company’s turnover for 2013 was 23 million and it currently employs 130 people around Finland. The window renovation market for households in Finland is currently estimated at 175 million annually and the market is expected continue its steady growth.
“The industry has excellent growth forecast as the current age of the Finnish single house building stock makes maintenance renovations topical for a significant portion in the near future. In addition, consumers are increasingly looking for more energy efficient solutions. According to surveys, the customers of LämpöLux are very satisfied with the unique service concept, which provides LämpöLux with excellent possibilities to profit from the growing demand. We have solid experience in the field through our investment in a similar case, Pohjolan Design-Talo Oy,” says Tuomo Raasio, Senior Partner at CapMan Buyout, responsible for the investment.
“According to recent consumer surveys the window renovations have not been carried out with the highest standards in Finland. It is very important for us to ensure the window installations are done with special care and that our service is always of the highest quality. The agreement with CapMan will further strengthen the market position of LämpöLux as the leading provider of window and door renovation solutions in Finland. This is an excellent position from which to continue to the next development stage,” says Pekka Koskelo, CEO of Suomen Lämpöikkuna Oy.
Suomen Lämpöikkuna Oy is the third investment of the CapMan Buyout X fund. The objective of the fund is to invest in successful Nordic mid-market companies and transform them into market leaders.
Tuomo Raasio, Senior Partner, CapMan Buyout, tel. +358 207 207 505 or +358 400 405 682
Pekka Koskelo,CEO, Suomen Lämpöikkuna Oy, tel. +358 405 254 330
CapMan Buyout is the largest mid-market private equity team in the Nordic region, with 20 investment professionals in Finland, Norway and Sweden and 24 years of experience. The team has made a total of 76 investments and 55 exits and its tenth fund CapMan Buyout X is currently in active investment phase.
CapMan Buyout is part of CapMan Group, a leading private equity firm in the Nordic countries and Russia, with assets under management of EUR 3.1 billion. CapMan has five key investment partnerships – CapMan Buyout, CapMan Russia, CapMan Credit, CapMan Public Market and CapMan Real Estate – each of which has its own dedicated investment team and funds. Altogether, CapMan employs around 100 professionals in Helsinki, Stockholm, Oslo, Moscow and Luxembourg.
Suomen lämpöikkuna Oy www.lampolux.fi
Established in 2010, Suomen Lämpöikkuna Oy is best known for its service brand LämpöLux, providing turnkey window and door renovation solutions in Finland. The company’s turnover for 2013 was 23 million and it currently employs 130 people. The company is headquartered in Oulu and has 16 offices around Finland.