Management buys Sentica's small cap business

Sentica Partners has sold its small cap business area to key management who will continue operations under the name Canelco Capital Ltd. The new venture will focus on MBO and MBI transactions in small- to mid-sized companies, with enterprise values of EUR1-10m. Canelco will manage about EUR55m. The venture capital firm employs eight people in offices in Kuopio, Helsinki and Tampere. Mikko Kuparinen is the deputy managing director and head of regional funds.

Following the division, Sentica Partners will have EUR150m of assets under management and an investment team of 13 people. The firm recently held a second closing of its third buyout fund on EUR74m. The fundraising process will continue as normal, targeting EUR100m. The fund will now focus solely on buyouts in the lower mid-market targeting companies in industrial production and services, IT services and healthcare with enterprise values of EUR15-100m. Mika Uotila will continue as managing partner of Sentica Partners.

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