Sponsor Capital acquires and merges Likeit, Nepton

The merged company, called Likeit Nepton Group, will provide services in the fields of HR, work management, financial management and analytics, to 700 customers in Finland and northern Europe. The company will have combined revenues of around €8m in 2020, and employ 50 staff.

Sponsor Capital's latest fund is Sponsor Fund V, which held a first and final close in August 2020 on €202m and was due to start making investments this quarter. The vehicle will acquire majority stakes in small and medium-sized Finnish companies with a turnover of €15-150m, aiming to accelerate companies' growth and internationalisation.

The GP said Likeit and Nepton had both grown rapidly, maintained profitability and continuously expanded functional scope of their services.

The new company is managed by CEO Kaj Rintala and deputy CEO Jukka Kivistö. Rintala will continue as CEO of Likeit, while Kivistö will continue as CEO of Nepton.

Company
Founded in 2003 and based in Espoo, Likeit provides SaaS and financial administration services for labour-intensive sectors.

Founded in 2000 and also based in Espoo, Nepton is a provider of work time management SaaS in Finland. 

People
Sponsor Capital – Jussi Seppälä (partner).
Likeit – Kaj Rintala (CEO).
Nepton – Jukka Kivistö (CEO).

Advisers
Equity – Bird & Bird (legal).  

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• Small-cap buyout
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