Verdane buys CAP-Group

Financial terms were not disclosed. Pension fund Elo and insurance company LähiTapiola will fully exit the business, while all the entrepreneur shareholders will stay on as minority owners. CEO and founder Pekka Kari will stay on as a shareholder and CEO.

With the backing of Verdane, the company intends to stretch beyond its local Finnish market. The Norwegian market will be of particular interest, as will the rest of Europe.

Verdane stated that the use of technology in driver instruction would be a strong value driver – the use of simulators is already advanced in Finland, it said.

Company
CAP's roots date back to 2005, when the founder started offering training in economical driving techniques to transport companies. It branched out to the driving school market in 2009 and now claims to be the largest driver instruction company in the Nordic region.

CAP posted a €21m turnover in 2018, up 25% on the previous year, and employs 330 staff.

People
Verdane – Janne Holmia (principal).

Advisers
Company, vendors – Jonver Capital (corporate finance); Smartius (legal).

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• Topics
• Buyouts
• Nordics
• Consumer
• Verdane Capital Partners
• Finland