CapMan Group press release
2 February 2023 at 08:30 a.m. EET
CapMan has sold its subsidiary JAY Solutions
CapMan Plc and minority owners of JAY have sold JAY Solutions Oy (“JAY”) to Swedish Bas Invest Ab and JAY’s management.
CapMan became the majority owner of JAY’s business following the acquisition of wealth advisory, analytics and reporting company JAM Advisors in 2019. In 2020, JAY’s business was separated from the wealth advisory business aligned with CapMan’s core offering, in order to develop JAY from a wealth advisory support function into an independent provider of analytics and reporting services. JAY had 20 employees at the end of 2022 and a turnover of MEUR 2.1. The turnover has grown more than 35% p.a. since 2019.
The debt and cash free total consideration for JAY was MEUR 8.5, including a MEUR 0.5 additional consideration, if JAY reaches operating targets as agreed together with the buyer. CapMan’s ownership in JAY prior to the transaction was 60%.
The new ownership structure accelerates the execution of JAY’s internationalisation strategy and service offering to other Nordic countries, especially Sweden. The focus of JAY’s business remains unchanged, and the company continues to focus on offering its services to Finnish and Swedish institutional investors, banks and asset managers.
“There is clear demand for independent reporting, analytics and data management services. The transaction enables an accelerated development of our service offering, which will be evident to our customers as improved and even more versatile services,” says JAY’s Managing Director Jani Laitinen.
“In just a few years, JAY has grown from a support function into a strong and independent business. I’m pleased that the company now has a new home where to continue its trajectory,” says CapMan’s CEO Joakim Frimodig.
The transaction does not impact JAY’s customer relationships or operations and all existing employees continue with JAY. The transaction does not affect CapMan’s other business areas.
For additional information, please contact:
Joakim Frimodig, CEO, CapMan Plc, tel. +358 50 529 0665
Jani Laitinen, Managing Director, JAY Solutions, tel. +358 40 554 0812
About JAY Solutions
JAY offers consolidated information about investment wealth in order to support decision-making and provide reporting services. Its clients are banks, institutional investors, asset managers and high-net-worth individuals.
About CapMan
CapMan is a leading Nordic private asset expert with an active approach to value creation. We offer a wide selection of investment products and services. As one of the Nordic private equity pioneers, we have developed hundreds of companies and real estate assets and created substantial value in these businesses and assets over the past 30 years. With over €5 billion in assets under management, our objective is to provide attractive returns and innovative solutions to investors. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover Private Equity, Real Estate and Infra. We also have a growing service business that includes procurement services. Altogether, CapMan employs around 190 people in Helsinki, Stockholm, Copenhagen, Oslo, London and Luxembourg. We are a public company listed on Nasdaq Helsinki since 2001 and a signatory of the UN Principles for Responsible Investment (PRI) since 2012. Read more at www.capman.com.
