CapMan Buyout X Fund A L.P and CapMan Buyout X Fund B Ky (together the “funds managed by CapMan”) have sold part of their shares in Harvia Plc (”Harvia” or the ”Company”) in an accelerated book-building to a limited number of institutional investors (the ”Share Sale”). The funds managed by CapMan sold a total of 12.3 per cent of the shares and votes in the Company. The subscription price in the Share Sale was set at EUR 6.00 per share and the gross sales proceeds amounted to approximately EUR 13.8 million. After the Share Sale, the funds managed by CapMan own 12.3 per cent of the shares in the Company.
In connection with the Share Sale, the funds managed by CapMan have entered into a lock-up undertaking, under which they have, subject to certain exceptions, agreed not to sell any shares in Harvia for a period ending May 7, 2019.
Pia Kåll, Managing Partner of CapMan Buyout, comments: “CapMan has supported Harvia through a number of important milestones and will continue with a 12.3 per cent stake. Following our investment in 2014, together with the management we developed and implemented a new growth strategy for the company, as a result of which Harvia is one of the leading sauna and spa companies in the world. This is an excellent basis for both current and new owners to continue from.”
Danske Bank A/S, Finland Branch acted as the Sole Lead Manager in the Share Sale.
Further information:
Pia Kåll, Managing Partner, CapMan Buyout, +358 207 207 555
Disclaimer
Danske Bank acted exclusively for the funds managed by CapMan and no one else and it will not regard any other person (whether or not a recipient of this release) as their respective client in relation to the Share Sale. Danske Bank will not be responsible to anyone other than the funds managed by CapMan for providing the protections afforded to their respective clients and will not give advice in relation to the Share Sale or any transaction or arrangement referred to herein. Danske Bank assumes no responsibility for the accuracy, completeness or verification of the information set forth in this release and, accordingly, disclaim, to the fullest extent permitted by applicable law, any and all liability which they may otherwise be found to have in respect of this release. Nothing contained in this release is, or shall be relied upon as, a promise or representation as to the past or the future.
The information contained herein is not for publication or distribution, directly or indirectly, in or into the United States, Canada, New Zealand, Australia, Japan, Hong Kong, Singapore or South Africa or any other country where such publication or distribution would be unlawful. This release does not constitute an offer of securities for sale in any country. The securities mentioned herein have not been registered under the U.S. Securities Act of 1933, as amended, or the rules and regulations thereunder.
About CapMan
CapMan is a leading Nordic private asset expert with an active approach to value creation. We offer a wide selection of investment products and services. As one of the Nordic private equity pioneers, we have developed hundreds of companies and real estate assets and created substantial value in these businesses and assets over the past 30 years. CapMan employs today approximately 120 private equity professionals and has over €3 billion in assets under management. Our objective is to provide attractive returns and innovative solutions to investors. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover Private Equity, Real Estate and Infra. We also have a growing service business that currently includes procurement services, fundraising advisory and fund management services. www.capman.com
