Sponsor Capital exits Espotel to trade buyer

The deal saw Etteplan acquire the entire share capital of Espotel, with the company's management team selling its stake alongside the GP.

Sponsor's exit comes three years after it acquired Espotel in a management buyout financed through the PE firm's €175m 2008-vintage Sponsor Fund III.

For Helsinki-listed Etteplan, the bolt-on forms part of an acquisition-driven growth strategy sanctioned by the company's largest shareholder, Ingman Group.

The parties expect the deal to complete by 4 April.

Company
Headquartered in Espoo, Espotel is a research and development service for electronic devices and systems, and software and industrial internet applications, such as Internet-of-Things-related products.

The company employs a staff of 300 across its sites in Finland, Poland and Sweden, and generated revenue of €26m in 2015.

People
Sponsor Capital – Juhani Kalliovaara (partner).
Espotel – Kari Liuska (CEO).

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