Press release - 30 June 2006
Quartal Oy will redeem CapMan funds’ holding in the company. Quartal is a Finnish IT and software company that delivers solutions and services for financial reporting and online investor relations. The exit does not have impact on CapMan Plc’s result for 2006, as the exiting funds have not begun to generate carried interest. The exit also does not have impact on earlier estimates for the transfer of the funds to carry.
CapMan funds Finnventure IV, Finnventure V and Finnventure V ET invested in Quartal Oy in 2000. Quartal’s turnover totalled EUR 8.3 million in 2005, and the Group has 95 employees in Finland, Germany and Switzerland. In autumn 2005 Quartal’s subsidiary Content Management was sold to Satama Interactive Plc.
”Quartal’s business has developed very well, and the company’s profitability is at a good level. Quartal has all the prerequisites to independently develop its business,” states CapMan’s Senior Partner Petri Saavalainen.
”82% of Quartal’s turnover today is accrued outside of Finland. The corresponding figure was less than 20% at the time of CapMan’s investment, and CapMan has had a substantial role in enabling this change,” states Aarne Aktan, CEO of Quartal.
For further information, please contact:
Petri Saavalainen, Senior Partner, CapMan Technology
tel. +358 9 6155 8314 or +358 500 415 911
Aarne Aktan, CEO, Quartal Oy,
tel. +358 424 258 204 or +358 40 7740 204
CapMan is one of the leading private equity investors in the Nordic countries and specialises in middle market buyouts in various industry sectors, investments in expansion and later stage technology companies and investments in life science companies. In addition, CapMan manages private equity real estate funds. The CapMan team comprises around 100 people in Helsinki, Stockholm, Copenhagen and Oslo. CapMan manages Nordic funds with approx. EUR 2.3 billion in total capital. To date, the funds managed by CapMan have invested in 153 companies in the Nordic countries and exited from 86 companies. The latest investments are made in Finnish Tamro MedLab Oy, Danish ScanJour A/S, Swedish Neoventa AB and Norwegian InfoCare ASA. The portfolio of CapMan’s first private equity real estate fund consists of 19 commercial properties in the Helsinki metropolitan area. CapMan Plc is listed on the Main List of the Helsinki Stock Exchange. www.capman.com
Quartal specialises in content management and corporate online communications. The Quartal Group employs 95 persons in Finland, Germany and Switzerland. The company’s client base includes Novartis, Julius Bär, TNT, Danske Bank, Dresdner Allianz, Nokia, Lufthansa, Volkswagen, Aldata and Puma. www.quartal.com