CapMan’s Eastway merges with AVAB CAC

The owners of the merging companies will become shareholders in the new holding company. Following the merger, the new group aims to increase market share in its existing geographies and to grow through further mergers and acquisitions in other Nordic countries.

AVAB CAC is a rental, seller and installer of lighting, sound, video, drapes and fabrics, staging and rigging systems in Norway. The company owns a 35% stake in AVAB CAC Bergen, which operates in the same field but in western Norway. AVAB CAC has been involved in a number of installations and productions over the years, such as the Nobel Peace Prize Concerts and Bergen International Festival.

CapMan acquired Eastway Sound & Lighting Oy in January 2011. The Finnish audiovisual equipment rental company is a full-service organiser of public and corporate events. In the 2009/2010 financial year the company generated net sales of €23m.

The combined group of companies is estimated to generate a turnover of approximately €55m in 2011.

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• Topics
• Nordics
• Industrials
• Portfolio management
• CapMan
• Finland
• Norway