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Home › Media › Releases 2005 › CapMan exits Tamore Group

Stock exchange release - 1 June 2005

CapMan exits Tamore Group

Tamore Group Oy, a portfolio company of the funds managed/advised by CapMan, has sold its subsidiary company Tamore Oy to Managing Director Erkki Mattila. In addition Tamore Group has sold its shares in real estate companies. As a result of these transactions, CapMan funds will realise their investment in Tamore Group. The exit transfers Fenno Fund to the stage where the next substantial cash flow received by the fund will move Fenno Fund to carry. Additionally, the exit from Tamore Group moves Finnventure IV and V funds closer to carry.

Tamore Oy is the market leader in IT and office supplies in Finland. CapMan funds Finnventure IV and V, Finnmezzanine II as well as the Fenno Fund co-managed by CapMan and Fenno Management Oy made investments in Tamore Group in 1998–2000. The funds have a stake of about 64% in the company prior to the realisation of their investment. Earlier this spring, Tamore Group sold its other subsidiary Printel Oy to Swedish LL Intressenter AB. The investment in Tamore Group has been satisfactory for investors in CapMan funds.

”We are very pleased to have found Tamore Oy a good owner, who is committed to the company for the long-term,” says CapMan Partner Jukka Järvelä. ”Tamore Oy has been one of the most profitable companies in its segment for many years, and we believe that this MBO secures good opportunities for the further development of the company.”

”The business will continue to be developed in line with Tamore’s strategy,” states Erkki Mattila, Managing Director of Tamore Oy. ”Tamore’s focus is on digital solutions for our customers’ systems, international partnership and the development of service concepts and new business areas. In addition, there will be a sharp increase in investments for sales to the Baltic region.”

SUMMA Corporate Finance has acted as a financial advisor for Tamore Group and its owners in the transaction.

For further information, please contact:
Jukka Järvelä, Partner, CapMan, tel. +358 9 6155 8334 or +358 50 553 8990
Erkki Mattila, Managing Director, Tamore Oy, tel. +358 9 8255 9211

CapMan Group
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. The CapMan team comprises around 80 people in Helsinki, Stockholm, Copenhagen and Oslo. CapMan manages/advises Nordic funds with approx. EUR 1.4 billion in total capital. To date, the funds managed by CapMan have invested in 141 companies in the Nordic countries and exited from 69 companies. The latest investments are made in Norwegian Cardinal Foods AS, Finnish Moventas Oy (formerly Metso Drives Oy), Swedish SciBase AB and Danish Anhydro Group. CapMan Plc is listed on the Main List of the Helsinki Stock Exchange.
www.capman.com

Tamore Oy
Tamore Oy is Finland’s leading supplier of office supplies and computer consumables. The company has also a subsidiary in Estonia. Tamore has 100 employees, 50 of whom work in sales. The majority of sales are oriented directly to end-users, about 35% to retail and a few per cent to exports to Russia and the Baltic region. Tamore had revenues of MEUR 32 in 2004 representing a growth of 5%. Tamore’s business premises are located in Vantaa, Finland and the company has 10,000 m2 of storage space to guarantee efficient logistics. Tamore’s cash-and-carry store and Printel Oy also operate in the same premises.
www.tamore.fi

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