MB Funds, the Finnish private equity firm which became fully independent from Sampo last year, has hired its sixth partner as its seeks to step up its activity in the Nordic buyout market.
The firm has hired Eero Niiva, who has fifteen years of investment banking experience including eight years in the corporate finance unit at Carnegie in Helsinki. Managing partner Juhani Suomela said Niiva’s role would centre around initiating and executing buyout deals in the Nordic region.
Last month, MB paid E59m to acquire Suomen Autokatsastus, the Finnish motor vehicle inspection company in a privatisation transaction from the Finnish government. The deal followed last year’s spin-off from Finnish bank Sampo. The firm is currently raising MB Equity Fund III, a later stage buyout fund, which held a final close on E96.1m. The final target for the fund has not been disclosed.
MB Funds currently has E290m under management across five funds, and has made 20 investments across the Nordic region since 1988. The current portfolio includes Engel Group, Panda, Medivire, Finnish Chemicals and Inspecta, a automotive technical testing and inspection organisation.