CapMan makes targeted consolidation play

The Finnish private equity firm has bought 50 per cent of the sharecapital of Danish woodworking SMEF Group.

CapMan Capital Management Oy, alongside Nordic Private Equity Group [NPE], has invested in SMEF Group A/S, as part of a build-up strategy for the woodworking industry in Northern Europe.

In a statement the company said it aims to become one of the leading distributors of machinery, fittings and services to the woodworking industry in the Nordic countries.

The investment enables SMEF to acquire three other Danish companies in the sector: Ludvig M. Larsen A/S, Lind Maskiner A/S and Nissenpack A/S. CapMan estimates that the Nordic market for machinery, equipment and fittings to the woodworking industry is worth from E500m to E700m per annum.

In April 2001 CapMan acquired the entire share capital of NPE. The deal is the first co-investment made by the enlarged firm.