Procuritas acquires Temporary Space

Procuritas made the acquisition for an enterprise value of around €53m, according to a stock exchange note.

It plans on growing Temporary Space by focusing on an improved customer offering and building on the position the business has taken in the Nordic markets.

The GP made the deal via its Procuritas Capital Investors VI fund, which held a final close on its €318m hard-cap in May last year.

Nasdaq Helsinki-listed Ramirent reported sales of €724m last year. It employs a staff of 2,800 in 290 customer centres across 10 countries in northern and eastern Europe.

Company
Based in Helsinki and established in 1955, Temporary Space offers temporary premises primarily for accommodation, schools, health centres and office spaces. The company operates in Sweden, Norway, Finland and Denmark. It posted sales of €30m and an EBIT of €3.5m in 2017.

People
Procuritas Capital Investors – Oskar Lindholm-Wu (director); Erik Fougner (partner).
Ramirent – Tapio Kolunsarka (CEO).

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