Nordic Capital sells €74.7m stake in Tokmanni

The shares were sold at 830 cents per share, an increase of around 24% on the share price at the time of Tokmanni's IPO in May 2016.

It was Nordic Capital's first stock sale since it floated the company and saw the GP divest a nine million unit block, equivalent to around 15.29% of the total shares and votes. The sale reduces Nordic Capital's shareholding from 42% to approximately 26.7%.

Following the sell-down, Nordic Capital agreed to a lock-up period lasting until 9 February 2017 – subject to certain criteria.

Carnegie and Nordea acted as joint lead managers in the accelerated bookbuilding process.

Previous funding
Tokmanni was listed in Helsinki in May 2016 with a market cap of €394m, four years after Nordic Capital acquired the company in an SBO from Finnish GP CapMan, through the Nordic Capital Fund VII vehicle. CapMan owned Tokmanni for eight years, taking a 60.6% stake in the company in November 2004 and exiting in May 2012.

Company
Founded in 2004, Tokmanni is a Finnish discount goods retailer. Headquartered in Mäntsälä, the company generated €755m in revenues in 2015 and employs a staff of 3,200.

People
Nordic Capital – Robert Furuhjelm (partner).

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• Topics
• Exits
• Consumer
• Nordics
• Nordic Capital
• Partial sale