CapMan buys majority stake in KotiSun

The GP is deploying capital from its CapMan Buyout X fund for the investment.

Following the deal, CapMan will become the majority owner of KotiSun, together with Finnish Industry Investment and Varma Mutual Pension Insurance Company. The management of KotiSun will own 30% of the company.

The transaction is subject to the approval of the competition authorities and is expected to close by 31 January 2018.

Capman's Buyout X fund held a final close in September 2014 on €245m. It invests in mid-market buyout transactions in the Nordic countries.

Company
Founded in 2006 and headquartered in Vaajakoski-Jyskä, in western Finland, KotiSun specialises in the renovation of service water, heating and drainage systems.

According to CapMan, the company has been growing at an annual rate of 30% over the last five years. The company employs a staff of 400 throughout Finland and has started expanding into Sweden. The firm's turnover for 2016 was €42.5m.

People
CapMan Buyout – Antti Karppinen (investment director). 
KotiSun Group – Kalle Lahtinen (CEO).

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