Procuritas takes majority stake in Fidelix

Fidelix's management will retain a "considerable" stake in the business after the deal, according to Procuritas, with the capital raised through the acquisition funding product development and expansion into new markets.

The investment was made through Procuritas Capital Investors V, a 2012-vintage €200m Nordic-focused fund, and follows the GP's strategy of investments in companies developing sustainable technologies.

Company
Fidelix is a Finnish company focusing on building management and security systems, as well as care products for those systems. The company's products control a building's heating and energy systems to optimise energy use.

Founded in 2002, the Vantaa-based company had revenues of €18.6m this fiscal year and employs 115.

People
James Orrick is a director for the Procuritas fund, and Jussi Rantanen is the CEO of Fidelix.

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• Nordics
• Buyouts
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• Procuritas