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Flexible capital solutions for special situations

We invest in Nordic companies with healthy core operations and sizeable unrealised value creation possibilities. Our approach combines flexible capital solutions with strong operational capabilities to transform businesses and build new growth. We are active owners, with over thirty-five years of experience from investing in Nordic private assets, accomplishing success stories.

Expertise in steering transformations

Proven ability to revitalise businesses and unlock value in complex or transitional situations.

Highly Competent and Experienced Team

Strong experience in navigating complex situations.

Focus on Value Creation

Aim to delivering strong outcomes across all stakeholders and finding value in complex situations.

Targeted partnership

We partner with Nordic companies that have strong fundamentals yet operate in complex or transitional situations, helping unlock their value.

Flexible approach

Our flexible investment approach entails a comprehensive range of  capital solutions, tailored optimally to match each situation.

Operational support

We provide strong hands-on strategic and operational transformation capability to create new value with controlled risks.

Our solutions

  • We make control-oriented capital investments with a comprehensive suite of equity and debt financing instruments. We can make majority equity investments or finance through tailored loan and minority equity investments coupled with applicable governance rights. We can also acquire existing financing instruments.

    Our investment ticket ranges from €10 million to €25 million per company over the holding period.

  • We provide end-to-end operational capability to successfully steer companies through situations that require repositioning and operational turnaround. Our senior operational advisors and managers are the most experienced turnaround operatives in the market, covering all main industry sectors. Our operational execution approach and toolkit enables companies to execute large-scale change with rigor and speed.

  • We are a responsible investor and our mission is to contribute to societal wellbeing by ensuring that viable companies can successfully steer through demanding situations and thrive. We strive towards environmentally sustainable practices and towards increasing transparency and professionalism in corporate governance.

Our team

Tuomas Rinne

Tuomas Rinne

Partner Special Situations
Tuomas Rinne has more than 20 years of experience in steering large-scale change, strategic repositioning and turnarounds. Before joining CapMan, Tuomas was with the Boston Consulting Group since 2000 where he was a Managing Director and Partner in Nordics (2010–2011, 2016–2020) and in Southeast Asia (2012–2016).
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Antti Uusitalo

Antti Uusitalo

Partner Management Group
Antti Uusitalo has 15 years of experience in mergers and acquisitions as an investment banker. Before joining CapMan, Antti was Partner and Corporate Finance lead in Finland at EY (2015–2020), and Partner at investment bank Summa Capital (2007–2015).
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Jari Vikiö

Jari Vikiö

Partner Special Situations
Jari Vikiö has 25 years of experience in complex corporate and private equity transactions as an M&A lawyer. Before joining CapMan, Jari was a Senior Partner at Borenius, where he was a partner since 2001 and served as the firm’s Managing Partner during 2008–2016.
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Sustainability themes

We integrate climate and nature considerations into all phases of our investment process during turnaround and restructuring situations. Our approach focuses on identifying the broad material nature risks and opportunities early, and embedding them into turnaround and value creation plans.

Through active ownership, we support our portfolio companies in improving energy efficiency, reducing emissions, and strengthening their environmental performance as part of operational transformation. Throughout the investment lifecycle, we monitor key nature indicators and work systematically to reduce the companies’ footprints, supporting their transition.

We contribute to a resilient and inclusive economy by supporting companies through critical transformation phases, helping preserve viable businesses, and enable future growth. By stabilising and repositioning companies, we play a role in strengthening local communities and long-term economic wellbeing.

We believe that responsible restructuring and transformation must go hand in hand with fair and inclusive workplace practices. We work closely with portfolio companies to promote safe, equitable, and healthy working environments, ensuring that employees are treated fairly and that equal opportunities are upheld during periods of change.

Transparency, strong governance, and ethical conduct are central to our approach, particularly in complex situations such as turnarounds, financial restructurings, and carve-outs. We take an active role in strengthening governance frameworks, enhancing reporting and transparency, and ensuring disciplined decision-making.

We work closely with management teams and stakeholders to embed responsible business practices, manage risks effectively, and build a strong foundation for long-term value creation and sustainable performance.

Our funds

Name Size Year Phase
CapMan Special Situations Fund €77m 2021 Actively investing