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Home › Media › Releases 2003 › CapMan invests in Northlight Optronics AB, an Ericsson spin-off

Press release - 20 January 2003

CapMan invests in Northlight Optronics AB, an Ericsson spin-off

An investor syndicate led by CapMan will invest in Northlight Optronics AB which has acquired Ericsson’s Optoelectronics unit. CapMan is making this investment together with European Digital Partners (EDP), a UK based investor group specialised in the optics industry and the company’s new management team. Northlight Optronics will be led by Keith Halsey, Robert Green, David Darby and Tom Mellqvist who all have substantial experience on various optics companies such as Lyte Optronics, Demeter, Bookham Technology and ADC (formerly Altitun AB).

Northlight Optronics is one of the leading suppliers of active fiberoptic components for optical communication systems. Its product range includes laser modules (Tx), receiver modules (Rx), integrated transponder/transmitter modules, and optical fiber amplifiers (EDFAs). Components are used in optical network equipment systems and subsystems. Northlight Optronics largest customers are network equipment system suppliers such as Lucent, Alcatel, Cisco and Siemens.

CapMan has a strong position in the Nordic private equity field and is specialised in mid-sized buy-outs and technology and life science investments. After closing its newest private equity fund CapMan Equity VII in December 2002, the total size of funds managed/advised by CapMan is EUR 1,653 million. CapMan’s remaining investment capacity is some EUR 500 million.

”CapMan has been active in companies in the optics industry such as Altitun and EM4. Based on this experience and long-term industry insight, the investment is seen as attractive despite a heavy shakeout in the worldwide optics industry,” says Lennart Jacobsson from CapMan. ”We believe Northlight Optronics is well placed to benefit from the recovery of the market, which is expected to happen in the next two to three years. The technology has a strong pedigree, and the management team has a very strong track record in the sector. This investment also proves CapMan’s ability to drive substantial technology investments in Nordic companies operating in global industries,” Jacobsson continues.

“Northlight Optronics has a world class capability in optical chip production in a very cost efficient organisation. We are well positioned to meet the recovery in demand in this sector and have substantial revenues in place,” says Keith Halsey.

For more information please contact:
Mr. Lennart Jacobsson, Head of CapMan’s Technology Business Unit, tel. +46 8 5458 5474
or +46 705 551 050

CapMan Group

CapMan is one of the leading private equity investors in the Nordic countries and specialises in mid-sized buy-outs in various industry sectors, technology investments in the IT and telecommunications sectors and investments in life science companies. CapMan team comprises more than 70 people in Helsinki, Stockholm and Copenhagen.

CapMan manages/advises funds with approximately EUR 1.653 billion in total capital, of which appr. EUR 527 million is managed by the affiliated company Access Capital Partners, which invests in European private equity funds. To date, the funds managed by CapMan have invested in 129 companies in the Nordic countries and exited from 49 companies. CapMan Plc is listed on the Main List of the Helsinki Stock Exchange.

EDP

European Digital Partners (EDP) is a European venture group specialised in equity investments focusing on private technology growth- and turnaround companies.

EDP was formed in early 2000 by the principals of Arkwright Capital Partners and the executives of Kohlberg Kravis Roberts & Co. EDP’s investment philosophy is based on intensive, fundamental research and experiences in the fields of the networking and communication industries. Through its predecessor Arkwright Capital Partners, EDP has been active in these sectors since 1994 and has conducted in excess of 30 investments.

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