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Press release - 1 September 2005

CapMan exits Junttan

The funds managed by CapMan will sell their investment in piling equipment specialists Junttan Oy to a Finnish consortium of investors, which is lead by Primaca Partners Oy and which will become the majority owner of Junttan. The exit from Junttan does not impact on CapMan Plc’s result for 2005, because the exiting funds have not begun to generate carried interest income.

CapMan funds Finnventure IV and Finnventure V invested in Junttan in 2000. The funds have a stake of about 32% in the company prior to the realisation of their investment. Junttan had net sales of MEUR 34 in 2004 and it employs some 150 persons. The investment in Junttan has been good for investors in CapMan funds.

”Junttan is the industry leader in North Europe and the company’s business has developed favourably in the last few years,” says Tuomo Raasio, Senior Partner at CapMan.

”Junttan is a pioneer in the piling works industry and it has a strong market position in hydraulic piling rigs, comprehensive customers and a good financial position. The company’s qualifications create preconditions for the further development of its business and generate opportunities for continuing strong growth. The continuation of Junttan’s founders, the Heinonen family, in the company’s management and as a minority owner, together with the skilled personnel, secures the retention of know-how and customer relationships within the company,” comments Veli-Matti Mynttinen, Managing Director of Primaca Partners Oy.

”The continuation of Junttan’s long term development plans will be secured by the new domestic owners,” states Juha Heinonen, Managing Director of Junttan Oy.

For further information, please contact:
Tuomo Raasio, Senior Partner, CapMan, tel. +358 400 405 682
Veli-Matti Mynttinen, Partner, Managing Director, Primaca Partners Oy, tel. +358 50 2895
Juha Heinonen, Managing Director, Junttan Oy, tel. +358 17 287 4400

Background information on the companies:

CapMan

CapMan is one of the leading private equity investors in the Nordic countries and specialises in middle market buyouts in various industry sectors, technology investments in the IT and communications sectors and investments in life science companies. In addition, CapMan manages/advises private equity real estate funds. The CapMan team comprises around 95 people in Helsinki, Stockholm, Copenhagen and Oslo. CapMan manages/advises Nordic funds with approx. EUR 1.9 billion in total capital. To date, the funds managed by CapMan have invested in 142 companies in the Nordic countries and exited from 73 companies. The latest investments are made in Swedish Aerocrine AB, Norwegian Cardinal Foods AS, Finnish Moventas Oy and Danish Anhydro Group. The portfolio of CapMan’s first private equity real estate fund consists of 17 commercial properties in the Helsinki metropolitan area. CapMan Plc is listed on the Main List of the Helsinki Stock Exchange.

Junttan Oy

Junttan, which was established in 1976, is the leading manufacturer of hydraulic piling rigs in Europe. The company specialises in the marketing, design and manufacture of hydraulic piling equipment for the construction industry and it is respected throughout the world for its high quality and state of the art technology. Junttan PM hydraulic piling rigs, developed in 1983, are the first totally hydraulic piling rigs designed from the ground up for piling work.

Today Junttan’s product range includes hydraulic piling rigs, hydraulic rotary heads and hydraulic hammers. The company has delivered in excess of 300 rigs and 600 hammers in 40 countries. Junttan has direct sales to customers as well as a network of sales representatives in 15 countries. The company’s major markets are Europe and Russia, which account for more than 80% of sales. The comprehensive customer base includes both large construction companies as well as local piling contractors around the world. Junttan is located in Kuopio, Finland. Junttan Oy had net sales of approx. EUR 34 million in 2004 and the company employs some 150 persons.
www.junttan.fi

Primaca Partners Oy

Primaca Partners Oy was founded at the start of 2005. The company specialises in direct private equity investments with a focus on small and middle market Finnish buyouts. Primaca Partners Oy acts as an expert between investors. The company manages/advises invested capital by active involvement in the portfolio company’s operations, together with the operative management, to develop the company’s strategy, structure and internal business model. The owners of Primaca Partners Oy are private individuals with extensive and well-rounded busin

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