CapMan exits Profit Software Oy
(Thomson Reuters ONE) -
CapMan Press Release - 30 September 2014 at 2:45 pm EEST
CapMan exits Profit Software Oy
Funds managed by CapMan have sold their holding in Profit Software Oy to Via
Venture Partners, Finnish Industry Investment Ltd and the company's management
team. Profit Software provides IT solutions to the insurance sector.
Funds managed by CapMan invested in Profit Software in 2009. Profit Software
provides software solutions that allow insurers to manage all their services,
business lines and processes. The company has operations in six countries and
its headquarters are located in Espoo. Profit Software is a market leader in
Finland and the Baltic countries, it employs over 90 people and its turnover in
2013 was approx. EUR 9.6 million.
"Cooperating with CapMan has been very rewarding and made our growth in the
Nordics possible in recent years. During CapMan's ownership we have built a
strong foothold in the Swedish market, among others. Furthermore, it is
important that the transaction enables us to remain as an independent company,"
says Ilkka Starck, CEO of Profit Software.
"We are very satisfied with our investment in Profit Software. It has been great
to cooperate with the company's competent management and personnel. Profit
Software has grown in the Nordics and become a leading domestic provider of IT
solutions to the insurance sector, which demonstrate clear industry expertise.
Profit Software has excellent prerequisites to continue its growth under the
leadership of its new owners," comments Vesa Walldén from CapMan Technology and
responsible for the investment.
The majority of the investment in Profit Software was made from CapMan
Technology 2007 fund, which owned approx. 70% of Profit Software Oy's shares
prior to the exit. The exit will not change CapMan's outlook estimate for 2014
given on 7 August 2014 as the exiting funds are not yet in carry.
For further information, please contact:
Vesa Walldén, CapMan Technology, tel. +358 400 616 997
Ilkka Starck, CEO, Profit Software Oy, tel. +358 40 760 0074
CapMan www.capman.com
CapMan Group is one of the leading private equity firms in the Nordic countries
and Russia, with assets under management of ?3.1 billion. CapMan has five key
investment partnerships - CapMan Buyout, CapMan Real Estate, CapMan Russia,
CapMan Credit and CapMan Public Market - each of which has its own dedicated
investment team and funds. Altogether, CapMan employs approx. 100 people in
Helsinki, Stockholm, Moscow, Luxembourg and London. CapMan was established in
1989 and has been listed on the Helsinki Stock Exchange since 2001.
Profit Software Oy www.profitsoftware.com
Founded in 1992, Profit Software provides software solutions that allow insurers
to manage all their services, business lines and processes. Profit Software has
operations in six countries and it is headquartered Espoo, Finland. The company
employs over 90 people and its turnover in 2013 was approx. EUR 9.6 million.
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: CapMan Oyj via GlobeNewswire
[HUG#1859672]
Unternehmensinformation / Kurzprofil:
Datum: 30.09.2014 - 13:45 Uhr
Sprache: Deutsch
News-ID 342355
Anzahl Zeichen: 3894
contact information:
Town:
Helsinki
Kategorie:
Business News
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"CapMan exits Profit Software Oy"
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CapMan Oyj (Nachricht senden)
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