Finnish private equity firm CapMan has acquired Danish investor Nordic Private Equity (NPE) in an all share deal.
CapMan has paid about E1.9m for NPE. It will dish out 1,130,000 CapMan B shares, which are quoted on the Helsinki stock exchange and stand at about E1.7. The shares come to about 1.6 per cent of CapMan’s share capital.
The deal has been announced just days after CapMan moved up to the main list of the Helsinki stock exchange. It remains to be approved by the competition authorities and by the CapMan board at an extraordinary general meeting.
NPE said it hoped the deal would strengthen its position in technology investments. The firm consists of two equity funds with a total of DKK 264m (E35.4m), which have invested in nine companies.
CapMan will inherit NPE’s three existing investments, Audio Nord International (a loudspeaker manufacturer); Lindplast (a packaging company) and Reima-Tutta (a clothing company).
CapMan said the acquisition was part of its expansion plan in the Nordic region. “NPE has an experienced team, which creates an opportunity for us to expand our business in Denmark,” said Vesa Vanha-Honko, senior partner at CapMan.
CapMan has about E1.15bn under management in 12 equity funds. It has invested in about 100 European companies and has exited 26 companies to date. CapMan has also invested in about 20 equity funds through its affiliate company Access Capital Partners.