CapMan's Eastavab merges with Swedish Starlight

The owners of Starlight, which offers solutions in technical equipment, stage structures, and logistics for the entertainment industry, will become shareholders in the Eastavab Group. Following the merger, the group will have a presence in Finland, Norway, and Sweden, and is expected to generate a €75m turnover in 2012.

CapMan senior partner Olli Liitola described the merger as a significant step towards its strategy to grow Eastway into a leader in the Nordic audiovisual equipment rental market. The owners will look to increase the company's market share in the region and expand to new market areas.

CapMan holds a 55.61% stake in the Eastavab Group, following a January 2011 buyout of Finnish audiovisual equipment rental and event organising company Eastway. The buyout included capital for pursuing a buy-and-build strategy in the Nordics. The company generated net sales of €23m in 2009/10.

In June 2011, Eastway merged with Norwegian trade player AVAB CAC under new holding company Eastavab Group. The group was estimated at the time to generate a turnover of around €55m in 2011.

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• Finland
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