September 5th, 2007
CapMan exits from Copterline
Finnventure Fund V has sold its shareholding of 14.7 percent in Copterline Oy to a Finnish investor consortium in which Ilmarinen via its investment fund and Ilkka Herlin are in the leading position. The exit has no substantial impact on CapMan Plcs result for 2007.Finnventure Fund V managed by CapMan invested in Copterline, the Finnish helicopter operation and maintenance organisation, in 2000.
Copterline provides search and rescue services, helicopter emergency medical services and charter flights, among others. Copterline operated scheduled route flights between Helsinki and Tallinn in 20002006. The company had to suspend the scheduled route in August 2005 as a result of a helicopter accident caused by a technical failure in the helicopters main rotor servo.
Copterlines business and the scheduled route in particular developed well prior to the unfortunate accident. The new owners are prepared to make the required substantial further investments for the reopening of the scheduled route in early 2008. We are pleased with their plans to develop the companys business, and we are confident that there is still a strong demand for scheduled route flights, says CapMans Senior Partner Tuomo Raasio.
CapMan is one of the leading alternative asset managers in the Nordic countries and manages Nordic buyout funds with approximately EUR 3 billion in total capital. CapMan has four investment areas (CapMan Buyout, CapMan Technology, CapMan Life Science and CapMan Real Estate), and each of them has a dedicated team. Altogether CapMan employs around 100 people in Helsinki, Stockholm, Copenhagen and Oslo. CapMan was established in 1989 and its B shares are listed on the Helsinki Stock Exchange since 2001.
CapMan Buyout makes both equity and mezzanine investments in middle market buyouts in almost all industries in the Nordics. The Buyout team comprises 25 experienced professionals. The current team has made over 60 Nordic investments and close to 40 exits. Examples of the current portfolio are Finnish Lumene, Swedish MQ, Norwegian Cardinal Foods and Danish Anhydro. The aggregate turnover of current portfolio companies is approx. EUR 2.8 billion and the companies employ nearly 18,000 people.
Tuomo Raasio, Senior Partner
CapMan Buyout, tel. +358 9 6155 8305 or +358 400 405 682
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