CapMan, the Nordic alternative asset firm based in Helsinki, has reached a deal enabling it to fully divest from Inflight Service Intressenter AB. CapMan’s 67% stake in the Swedish travel service company will be sold to Triton for an undisclosed amount. CapMan acquired Inflight Service in 2005 and with the divestiture, is very pleased with the return provided to fund investors. Funds involved in the exit include CapMan Equity VII, CapMan Mezzanine IV, and Finnmezzanine III A and B funds.
Inflight Service Intressenter AB
Inflight Service is primarily involved in providing purchasing and distribution services to Scandinavian airlines, cruise lines, and ferries. The company also operates retail shops in airports and and ship terminals, plus a wide range of full concession outlets. Inflight was founded in 1991, building a solid reputation with Air Finland, Norwegian Air Shuttle, Thomas Cook Airlines Scandinavia Primera Air and others. 2008 turnover was reported to be just over $206 million.
CapMan (www.capman.com)
CapMan was established in 1989 and has emerged as one of the leading private equity firms operating within the Nordic and Russian markets.
CapMan is a active in the life sciences, manufacturing, medical, retail, IT, and telecom sectors. The fund prefers companies with a €50 million to €500 million annual turnover, investing between €10 million and €50 million per transaction. Investors in the firm’s funds are mostly pension funds, insurance institutions, banks, public organizations, and funds of funds.
In addition to their Helsinki headquarters, CapMan also has offices in Copenhagen, Guernsey, Moscow, Oslo and Stockholm.
December 16, 2009
Exit, Private Equity News, Sweden