Nordic investment group CapMan has sold its stake in Synerco, the Swedish provider of security and office services, to service management company Addici Holding and its majority owner Argan Capital, for an undisclosed sum.
Synerco manages corporate facilities, mainly in Sweden, and had sales of €76 million in 2006. The company employs around 1200 people.
CapMan invested in the company in 2003 through the acquisition of Swedish holding company Serco Sverige from the UK public service company Serco Group. This later became Synerco.
CapMan partner Göran Barsby said the range of services provided by Synerco and Addici will make the combined entity a significant player in the Service Management market.
CapMan said the exit, which should be completed by the end of May, will not have a significant impact on its results for 2007.
CapMan manages Nordic mezzanine, technology, life science and real estate funds with around €2.9 billion under management. The Nordic investor employs around 100 people and its portfolio includes medical technology company Aerocrine and hardware and software solutions developer Tritech Technology.