UNQUOTE

SWEDEN - InnovationsKapital generates 9x return on Carmen Systems

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InnovationsKapital and other major shareholders have entered into an agreement to sell all of their interests in Carmen Systems to The Boeing Company. As a result, the net proceeds to InnovationsKapital are at least SEK 190m, equivalent to 9x the invested capital.

InnovationsKapital has in total invested SEK 21m in the busines. Since the initial investment, Carmen Systems has developed into a leading resource optimisation solution provider in the railroad and airline industries.

'We have seen the company grow from a very small venture to 300 employees. The management has succeeded in turning Carmen into a leading international business in its field,' says Gunnar Fernström, Investment Director at InnovationsKapital.

Carmen Systems develops, markets and implements resource optimisation solutions for clients found primarily in the transportation industry. The company will join the Jeppesen group of companies within Boeing Commercial Aviation Services, and will report into Jeppesen's Commercial & Military Aviation business unit.

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