CapMan Growth together with the consortium announces a public tender offer for all the shares in Innofactor Plc
The CapMan Growth Equity III fund and Innofactor’s founder, main shareholder and long-time CEO Sami Ensio, through his company Ensio Investment Group Ltd, have formed a consortium for a voluntary, recommended public cash tender offer for all shares issued by Innofactor Oyj. Osprey Capital Ltd is involved in the consortium as a co-investor.
Innofactor offers IT services, such as design services for critical IT solutions, delivery projects, implementation support and maintenance services with the Microsoft ecosystem solutions. The company also develops its own software and services. Innofactor is a respected and strong partner for about 1,000 private and public sector organizations in the Nordic countries. In 2023, Innofactor’s net sales was around 80 million euros and EBITDA was around 9 million euros.
With the experience and versatile resources offered by CapMan Growth and Sami Ensio’s company and industry knowledge, the consortium has exceptional operational experience and know-how to further develop Innofactor ‘s operations and grow the business.
”As a strategic partner, CapMan Growth provides the company with extensive experience in developing IT service companies and a range of resources to accelerate Innofactor’s growth strategy, particularly through acquisitions, as well as a stable and secure domestic owner for the demanding Nordic customer base. I am excited about the opportunity to develop the company together with the company’s founder Sami Ensio”, says Antti Kummu, Managing Partner of CapMan Growth.
As a private company, Innofactor would be able to better focus on its customers, innovations and the implementation of the growth strategy, as well as obtain more flexible financing opportunities.
”I have acted as the CEO of Innofactor during its almost 15 years as a listed company and, in my view, while being a listed company has brought about many positive things to Innofactor, it has also limited Innofactor’s growth and profit potential due to, among others, increased reporting obligations and low liquidity in shares. After careful consideration and exploring a wide range of options, I believe that the current tender offer, supported by CapMan Growth, is the best option for Innofactor ‘s future and its existing shareholders. I am very committed to continue leading the company and to executing its growth strategy. At the same time, I will increase my ownership stake in the company if the public tender offer is completed”, says Sami Ensio, main shareholder of Innofactor and member of the consortium.
Osprey Capital Ltd is involved in the consortium as a co-investor. Osprey Capital Ltd is an investment company founded in 2014 and owned by Timo Larjomaa, a Senior Advisor of CapMan Growth, and his family. Osprey Capital invests e.g. in IT-companies and private equity funds.
CapMan Growth is the leading Finnish growth investor making investments in entrepreneur-led growth companies with revenues ranging between €10–200 million euros. CapMan Growth offers entrepreneurs an alternative to selling the majority of their business by facilitating a partial exit while also supporting growth and internationalisation. CapMan Growth has been part of building companies such as Coronaria, Cloud2, Digital Workforce, Fennoa, Fluido, Neural DSP, Picosun, Sofigate, Silmäasema and Unikie.
For further information, please contact:
Antti Kummu, Managing Partner, CapMan Growth, +358 50 432 4486
About CapMan
CapMan is a leading Nordic private asset expert with an active approach to value creation and €5.7 billion in assets under management. As one of the private equity pioneers in the Nordics we have developed hundreds of companies and assets creating significant value for over three decades. Our objective is to provide attractive returns and innovative solutions to investors by enabling change across our portfolio companies. An example of this is greenhouse gas reduction targets that we have set under the Science Based Targets initiative in line with the 1.5°C scenario and our commitment to net-zero GHG emissions by 2040. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover real estate and infrastructure assets, natural capital and minority and majority investments in portfolio companies. We also provide wealth management solutions. Our service business includes procurement services. Altogether, CapMan employs around 200 professionals in Helsinki, Jyväskylä, Stockholm, Copenhagen, Oslo, London and Luxembourg. We are listed on Nasdaq Helsinki since 2001. www.capman.com
Innofactor
Innofactor is the leading driver of the modern digital organization in the Nordic Countries for its about 1,000 customers in commercial and public sector. Innofactor has the widest solution offering and leading know-how in the Microsoft ecosystem in the Nordics. Innofactor has about 600 enthusiastic and motivated top specialists in Finland, Sweden, Denmark and Norway. For more information: www.innofactor.com
