CapMan Buyout invests in fast-growing Forenom
(Thomson Reuters ONE) -
CapMan Buyout Press Release 7 December 2016 at 12.00 noon
EEST
CapMan Buyout invests in fast-growing Forenom
CapMan Buyout X fund has agreed to invest in Forenom, a leading Nordic temporary
housing service operator. CapMan acquires a majority equity share in the company
with the aim to grow the company's core business and further strengthen its
market position in the Nordic countries. Forenom's current owner Barona Group as
well as Forenom's active management will continue holding minority stakes in the
company.
Forenom manages more than 3,200 furnished apartments, several aparthotels as
well as hostels across the Nordics. The company was established in 2000 and is
the Nordic market leader in its field as measured by the number of apartments
and turnover. Forenom's diverse clientele includes 25,000 private individuals
and corporations. The company has approx. 260 employees and expects turnover of
around ?60 million for 2016. In addition to offices in Finland, the company has
offices in Stockholm, Oslo as well as Copenhagen.
"We are very pleased with our investment, which allows us to accelerate
Forenom's growth and utilise the opportunities of a dynamic market.
Traditionally there has been a gap in accommodation services between hotel
accommodation and permanent housing. The demand for high quality housing
solutions has grown and the market for accommodation services is becoming
increasingly diverse. Migration and for example more prevalent international
secondments support this trend and we expect the Nordic markets for serviced
apartments to grow significantly faster compared to other accommodation and
hospitality markets. We see growth opportunities in accelerating organic growth
and in consolidating the fragmented Nordic market thanks to Forenom's strong
position and brand. Forenom's committed management has been successful in
developing the company and in creating a strong and unique corporate culture. We
are glad to continue together from here," says Pia Kåll, Partner at CapMan
Buyout.
"We sought a strong partner for the implementation of Forenom's strategy. We
believe that CapMan, with expertise in the hotel and real estate sectors as well
as in the internationalisation of businesses, is the right partner to help
Forenom reach its goals," says Markus Oksa, CEO of Barona Group.
"The development of the field is fierce. We have reach a status as a frontrunner
and market leader as part of Barona Group. In this situation, it is especially
inspiring to have a top professional of CapMan's calibre as our growth partner.
Together, and with the support of our customers, we are well-positioned to earn
our place in the forefront of the development of the accommodation business,"
comments Johannes Kangas, Forenom's CEO.
The investment in Forenom is the ninth of the CapMan Buyout X fund, which was
established in 2012. The transaction is subject to the approval of the
competition authorities and is expected to close on 31 December 2016.
For more information, please contact:
Pia Kåll, Partner, CapMan Buyout, p. +358 207 207 555
Johannes Kangas, CEO, Forenom Oy, p. +358 40 572 1421
CapMan
www.capman.com
twitter.com/CapManPE
CapMan Buyout is a specialised mid-market private equity partnership in the
Nordic region, with 18 investment professionals in Finland and Sweden. The team
has made more than 80 investments and 60 exits since 1989 and its tenth fund
CapMan Buyout X is currently in active investment phase.
CapMan is a leading Nordic investment and asset management company. For more
than 25 years, we have been developing companies and real estate and supporting
their sustainable growth. We are committed to understanding the needs of our
customers in an ever-changing market environment. Our objective is to provide
attractive returns and innovative solutions for our investors and value adding
services for professional investment partnerships, growth-oriented companies and
tenants. Our independent investment partnerships - Buyout, Real Estate, Russia
and Nest Capital - as well as our associated company Norvestia are responsible
for investment activities and value creation. CapMan's service business offering
includes fundraising advisory services, purchasing activities and fund
management services to both internal and external customers. CapMan has 100
professionals and assets under management of ?2.8 billion.
Forenom
www.forenom.fi
twitter.com/Forenom
Founded in 2000, Finnish Forenom manages over 3,200 furnished apartments, as
well as several aparthotels and hostels around the Nordic countries. By the
number of apartments and turnover, Forenom is the market leader in business
accommodation in the Nordic countries. The versatile clientele of Forenom
includes 25,000 private customers and corporations. Forenom has a staff of
around 260 employees and is expecting ?60 million in turnover in 2016. In
addition to offices in Finland, Forenom has offices in Stockholm, Oslo, and
Copenhagen. Friday Flats, an online community for home rental and hosting, is
also a part of Forenom.
Barona Group
www.baronagroup.com
twitter.com/BaronaGroup
Barona Group is a community of Finnish companies working in various sectors to
improve working life. Barona Group was founded in 1999, and its turnover in
2016 is expected to exceed ?300 million. We employ over 5,000 employees. Our
mission is to build bespoke, innovative solutions in order
to facilitate development and growth for our customers. Currently, we operate in
nine countries including Finland, Sweden, Norway, Denmark, Estonia, Russia,
Poland, Spain, and Belgium.
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: CapMan Oyj via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 07.12.2016 - 11:00 Uhr
Sprache: Deutsch
News-ID 511331
Anzahl Zeichen: 6708
contact information:
Town:
Helsinki
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 218 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"CapMan Buyout invests in fast-growing Forenom"
steht unter der journalistisch-redaktionellen Verantwortung von
CapMan Oyj (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
