CapMan sells Profit Software to Via and Finnish Industry

The new owners will own 100% of the company's shares, picking up CapMan's 70% stake as well as the remainder, which was held by private investors, employees, founders and management.

CapMan first invested in Profit Software in 2009 through its 2007-vintage CapMan Technology fund, taking a 34% stake. The Finnish GP subsequently increased its holding to around 70% through add-on investments in the early stages of owning the company.

The sale of Profit Software is CapMan's fifth exit this year, most recently having handed off market intelligence advisory firm Global Intelligence Alliance in a trade sale.

For Via, the acquisition of Profit Software follows close on the heels of its recent trade sale of another Nordic software company, Dolphin Software.

Via investment officer Benjamin Kramarz said the GP had been looking at the Nordic market for insurance software for several years, and is now planning on expanding Profit Software's operations across the Nordic market.

Company
Founded in 1992, Profit Software has operations in Finland and the Baltic countries, employing 90 people.

The Espoo-headquartered company managed revenues of around €9.6m in 2013.

People
Vesa Walldén was responsible for CapMan's investment in Profit Software and worked on the deal on behalf of CapMan Technology.

Investment officer Benjamin Kramarz worked on the deal for Via, while Finnish Industry Investment was represented by investment director Juha Lehtola.

Ilkka Starck is the CEO of Profit Software.

Advisers
Company – Hampleton Partners (Corporate finance).

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• Topics
• Exits
• Buyouts
• Nordics
• Technology
• Secondary buyout
• CapMan
• Via Venture Partners
• Finnish Industry Investments
• Finland