CapMan Plc, Finnish Industry Investment Ltd and Varma Mutual Pension Insurance Company acquires 70% stake in KotiSun Oy from Panostaja Oyj

Aventum Partners acted as an adviser to investment company Panostaja and other selling shareholders on the sale of KotiSun. KotiSun is the leading detached house focused heating and plumbing renovation and maintenance company in Finland with a growing presence in Sweden since 2017. The company has grown rapidly, on average over 30% p.a. and generated sales of 42.5 million euros and EBITDA of 9.3 million euros in 2017. With a strong, defendable market position, excellent track record of profitable growth and attractive potential for expansion within the Nordics and within broader detached house renovation and maintenance markets, KotiSun was an attractive investment target. Through sharp positioning and an interesting investment story the company generated a large amount of buyer interest and was sold in a carefully prepared competitive process managed by Aventum. The deal saw the entire share capital of KotiSun Group Oy transfer to CapMan Buyout X, a fund managed by Nordic private equity investor CapMan, Tesi, the Finnish state-owned owned investment company and Varma, the pension insurer. The management of KotiSun made a significant reinvestment in the business. The total consideration of the transaction was 88 million euros on an enterprise value basis. The transaction was signed in December 2017 and closed in January 2018.