CapMan Plc has announced a partial exit from its Lumene investment of 2003. The firm has joined co-investor Langholm Capital in selling its interest in Farmos Holding Oy to KilltoClean Oy, which plans to merge the two under the Kiilto name. Farmos was spun off from Lumene in 2008, and various CapMan funds combined to own 60% of the company.
During CapMan’s involvement, Farmos has grown to be a market leader in Finland, Russia, and the Baltic countries. CapMan funds will continue holding shares in Lumene for the time being.
Farmos Holding Oy (www.farmos.com)
Farmos is a Finnish manufacturer and distributer of hygiene products, cleaning supplies, and industrial chemicals. The company is a market leader in Finland where it carries products under the Erisan and Serto brand names.
The company was founded in 1953. Farmos employs 250 people at various locations in Finland, Estonia, Latvia, Lithuania, Russia, and Sweden. Net sales for 2009 sales were reported at nearly €44 million.
KiiltoClean Oy (www.kiiltoclean.fi)
KiiltoClean is part of the family of companies owned by Kiilto Oy, a Finnish chemical company founded in 1919. KiiltoClean manufactures and distributes cleaning and hygiene products for home and commercial use. Their product list also includes machines and equipment designed for commercial cleaning. In addition to serving the Finnish market, KiiltoClean exports to the Baltic and Nordic countries, Poland, Russia, and Ukraine.
Langholm Capital (www.langholm.com)
U.K.-based Langholm Capital is a unique private equity firm dedicated to investing in projects that directly promote health and well-being, services for the aged and greater consumer convenience. Equally unique is Langholm’s commitment to not invest in a number of undesirable projects including adult entertainment, gambling, invasive medical or cosmetic procedures, and tobacco. Specific sectors of interest include themed tourism, health foods, hospitality, and financial services for the retired.
The firm typically invests for an average of five years, in Western European and Nordic companies with a value between €20 million and €200 million.
CapMan (www.capman.com)
CapMan is an alternative asset management firm founded in 1989 and active in the Nordic region and Russia. CapMan currently manages a total of 18 funds worth a combined €3.6 billion.
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.
25/08/2010
Chemicals, Exit, Finland, Private Equity News