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FINLAND - Eqvitec Technology acquires Powernet

Linn
15 May 2008

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Eqvitec Technology Fund III has acquired the majority of the shares in Powernet Oy, a power supplies provider, for an undisclosed sum. Management maintains a significant stake in the business.

The company designs, manufactures and sells power supplies, power supply systems and related products for use in several industries. Its customers include multinational companies mainly within the electric power, machinery and telecommunication sectors. Turnover in 2007 totalled EUR 13m.

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