CapMan exits Finlayson & Co

As part of the transaction, Finlayson has also divested duvet and mattress business Familon in a trade sale to the Trading House Scandinavia group.

The exit has generated carried interest for the Fenno Program, Finnmezzanine II B and Finnmezzanine III B funds.

CapMan first invested in the company – initially a manufacturer of flexible foam products called Espe Group – in 1999. The GP acquired 75.6% of the group with capital drawn from its equity funds and an additional 10.4% via its mezzanine funds.

The Espe group undertook a buy-and-build strategy under the GP's stewardship. In 2000, Espe acquired home textile company Finlayson and in 2006 the group rebranded itself as Finlayson & Co. In the same year, the company also repaid its mezzanine loans to Finnmezzanine II and III.

Finlayson sold the Espe brand as well as Ewona, a manufacturer of non-woven textiles, in 2007.

Company
Finlayson is a Helsinki-based producer of home textiles, mattresses, duvets and beds. The company has a headcount of 265, with operations in Finland, Russia and the Baltic region. The company generated net sales worth €44.8m in 2013.

People
Jouko Salakka is CEO of Finlayson. Tuomo Raasio is senior partner at CapMan. Peter Hunt is the owner of Trading House Scandinavia.

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