CapMan exits Fortaco, buys Netox

CapMan formed Fortaco in 2012 with the merger of combined units from Komas and Ruukki Engineering division. In 2019, it divested Komas in a trade sale.

Fortaco was the last unrealised asset from CapMan Buyout VIII, which held a final close in June 2006 at EUR 440m. 

Buyer One Equity targets companies with USD 10m-USD 70m EBITDA in healthcare, industrials and technology. It closed its eighth USD 2.75bn private equity fund in April 2022. 

In another deal announced today, CapMan acquired Finnish IT services and cybersecurity group Netox. The deal is CapMan's sixth investment via Buyout XI, which has raised around EUR 190m, following a EUR 160m first close in June 2019.

The Netox acquisition is expected to close in July 2022 and Fortaco in the second half. 

Founders and management retain a significant minority stake while Bocap's growth fund Bocap SME Achievers Fund II Ky, will sell all its share. 

Netox's core segments of cybersecurity, cloud, server and network services account for 80% of its recurring revenue, said CapMan. The company sells mostly to SMEs and the public sector.

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