CapMan exits Inflight Service
(Thomson Reuters ONE) - CapMan Press Release 7 December 2009 2.00 p.m. EETCapMan exits Inflight ServiceFunds managed by CapMan will sell their holdings in the Nordicregion's leading travel retail company, Inflight Service, to fundsmanaged by Triton.The CapMan-managed funds have signed an agreement to sell theirapproximately 67% holding in Inflight Service Intressenter AB tofunds managed by the private equity firm Triton. The company wasacquired in 2005 from the original founders and investment companyWasatornet Invest AB.Swedish-based Inflight Service, the market leader in the Nordictravel retail market, provides the travel industry with merchandisethat travellers purchase, offering its customers a wide range oftravel retail solutions and distribution services. In 2008 thecompany reported net sales of approx. ?152 million employing some 300people."We are very pleased with the transaction that has been announcedtoday and with the development in Inflight Service during ourownership period. Inflight is now ready for a new phase in itsinternational expansion, and has good growth prospects going forward.We believe that Triton is a strong owner for the company and theywill be able to support the management team in taking InflightService to the next level," says CapMan Partner, Mats Gullbrandsson.The funds exiting from Inflight Service are CapMan Equity VII, CapManMezzanine IV, and Finnmezzanine III A and B funds. The investment hasbeen good for the investors in the exiting funds. The exit will notaffect CapMan Plc's result, as the exiting funds are not yet incarry. The funds concerned, with the exception of CapMan MezzanineIV, are expected to start generating carried interest during2010-2011.The transaction is subject to customary closing conditions andrequires the approval of competition authorities. It is expected thatthe transaction will be closed by the end of January 2010.Catella Consumer, KPMG and Vinge have acted as CapMan's advisors inthe transaction.For further information, please contact:Mats Gullbrandsson, Partner, CapMan Buyout, tel. +46 8 545 854 81 or+46 734 40 84 88CapMan www.capman.comCapMan is one of the leading alternative asset managers in the Nordiccountries and Russia and manages private equity funds withapproximately EUR 3.5 billion in total capital. CapMan has sixinvestment areas (CapMan Buyout, CapMan Technology, CapMan LifeScience, CapMan Russia, CapMan Public Market and CapMan Real Estate),and each of them has a dedicated team and funds. Altogether CapManemploys approx. 150 people in Helsinki, Stockholm, Copenhagen, Osloand Moscow. CapMan was established in 1989 and its B shares arelisted on the Helsinki Stock Exchange since 2001.This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 07.12.2009 - 13:00 Uhr
Sprache: Deutsch
News-ID 9337
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