CapMan sells remaining stake in Lumene

Under CapMan's stewardship, the company expanded its operations in both the Russian and Nordic markets. The company stated more than 50% of its 2013 revenues came from international markets.

The transaction generated carried interest income for the CapMan Equity VII B fund.

In April this year, CapMan also agreed the sale of its 92% stake in Espira – a Norwegian provider of pre-school services – to Swedish education company AcadeMedia.

Previous funding
In 2003, CapMan acquired a 60% stake in Lumene, previously the Noiro branded cosmetics unit of pharmaceutical company Orion. At the time, Langholm also acquired 30% of the company, in a deal worth €100m overall.

Langholm acquired 48% of the company from CapMan in December 2010, in a deal valued at between €25-50m by unquote" data.

Company
Lumene is a producer and retailer of cosmetics, personal hygiene and professional hair care products. The company generated sales of €90m in 2013 with more than 50% coming from international markets.

Headquartered in Espoo, Finland, Lumene was established in 1948 and has a headcount of 530.

People
Tuomo Raasio is the senior partner at CapMan responsible for the investment. Tapio Pajuharju is CEO of Lumene.

Advisers
Equity – Borenius, Jari Vikiö (Legal).
Vendor – KPMG, Lars Hagelstam (Corporate finance).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Nordics
• Consumer
• Expansion
• Finland
• CapMan
• Langholm Capital Partners LLP