Finnish Industry Investment et al. back Visedo

Finnish Industry Investment invested alongside existing owners Power Fund II and Sinituote. The fresh capital will be used to accelerate the company's international growth.

Finnish Industry Investment said it was attracted to the company due to its global market potential, significant customer base and expertise in electrical drive technology. The firm believes the global electrical drive market is due to grow to €1bn by 2020.

Finnish Industry Investment is a government-owned investment company - it has invested €720m to date in 510 companies that employ 50,000 people in total.

Company
Founded in 2009 and headquartered in Lappeenranta, Finland, Visedo develops, manufactures and delivers electrical drive trains for heavy mobile work machine, marine vessel and bus applications. With 18 staff, the company also has a subsidiary in Germany and is expected to post a turnover of €1m for 2013.

People
Jussi Sainiemi led the deal for Finnish Industry Investment. Harri Ollila is chairman of the board of Visedo.

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