CapMan invests in Picosun

Finnish state-backed industrial investment fund Tesi also took part in the round, as well as Risto Siilasmaa's First Fellow Partners.

Existing investors Hannu Turunen and R Ruth also took part in the financing.

The family office of Kustaa Poutiainen, Stephen Industries, remains the majority investor.

CapMan invested from its €86m CapMan Growth Equity Fund, which held a final close in 2017 and makes investments of €2-10m in high-growth Nordic companies.

Previous funding
A consortium of private investors including Hannu Turunen and Ilkka Hiidenheimo invested €5.6m in Picosun in 2013.

Company
Picosun was founded in 2003 and is headquartered in Espoo. ALD was invented by Picosun board member Tuomo Suntola, who won the Millennium Technology Prize for the invention. It is a method of creating chemical coatings for electronic components and medical devices. Picosun makes ALD machinery and equipment, as well as providing technical support to its clients. It generated sales of €26m in 2018 and employs 100 people.

People
CapMan Growth – Juha Mikkola (managing partner).
Picosun – Kustaa Poutiainen (chairman).

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• Topics
• Expansion
• Nordics
• Industrials
• Finland
• CapMan