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Home › Media › Releases 2007 › CapMan, SEB Venture Capital and Aloe Private Equity acquire Swedish KMW Energi AB

Press release - 15 June 2007

CapMan, SEB Venture Capital and Aloe Private Equity acquire Swedish KMW Energi AB

Funds managed by CapMan will together with SEB Venture Capital and the energy and environment fund specialist Aloe Private Equity acquire a majority holding in KMW Energi. KMW Energi is a leading supplier of bio fuel combustion plants in Sweden.

KMW Energi is a supplier of bio fuel heating plants and Combined Heat and Power (CHP) plants. KMW Energi supplies turn-key solutions, where the Company designs the entire combustion process. The combustion systems operate on a wide range of cellulose fiber based fuels, such as forest and sawmill waste, briquettes and pellets.

KMW Energi was founded in 1958 but has focused on the development of CHP plants since 2001. In a CHP plant mechanical power is produced by a heat engine, which transforms thermal energy from the bio fuel combustion, into rotational energy. Approximately 70% of the thermal energy produced in a CHP plant comes out as heat however, which is then used for district heating or industrial processes, and the remaining 30% is transformed to electricity. KMW Energi supplies plants within the 10–40 MW thermal effect range and customers are today mainly Swedish municipalities. The Company has also delivered plants to Finland and Norway. KMW Energi’s turnover in 2006 was EUR 21.6 million and the Company has 40 employees.

”KMW Energi is a leading clean-tech company in its segment. CHP plants have superior efficiency and economy compared to many other energy solutions. Plants based on KMW Energi’s technological competence and solutions are safe and efficient with low environmental impact,” says CapMan Senior Partner Lars Hagdahl.

”KMW Energi has excellent prerequisites to grow its customer base especially in the industrial sector and to expand operations internationally. The Company is profitable and recognised for its high quality products and its combustion technology competence in particular,” says KMW Energi’s CEO Leif Granroth.

CapMan funds, SEB Venture Capital and Aloe Private Equity will own 80% of KMW Energi’s shares after the transaction has been completed with equal holdings. The current owners will hold the remaining 20% of the shares in the Company. It is expected that the transaction will be finalised in early July.

For further information, please contact:

Lars Hagdahl, Deputy Head of CapMan Technology, Senior Partner, tel. +46 8 545 854 76 or +46 70 728 8880

Jonas Nyman, SEB Venture Capital, Senior Investment Manager, tel. +46 8 763 79 05 or +46 70 265 79 05

Leif Granroth, CEO, KMW Energi AB, tel. +46 176 20 5652 or +46 70 256 0838

CapMan
CapMan is one of the leading private equity investors in the Nordic countries and manages Nordic buyout, mezzanine, technology, life science and real estate funds with approximately EUR 3.0 billion in total capital. Each investment area has a dedicated team and altogether CapMan employs around 100 people in Helsinki, Stockholm, Copenhagen and Oslo. Established in 1989, CapMan has strong experience as a fund manager and as a partner for investors and entrepreneurs. To date CapMan has made over 150 Nordic investments and over 90 exits. The current portfolio encompasses over 60 companies with an aggregate turnover of approx. EUR 2.7 billion and aggregate personnel of 17,000 people. The latest investments are made in Finnish Movial Applications Oy, Danish IT2, Swedish QuickCool AB and Norwegian InfoCare ASA. In addition, CapMan has invested in almost 30 real estate assets and exited from 22. The B shares of CapMan Plc are listed on the Main List of the Helsinki Stock Exchange since 2001. www.capman.com

The investment in KMW Energi is made by CapMan Technology 2007 fund, in which CapMan Plc is a substantial investor. CapMan Technology invests in Nordic expansion and later stage technology companies. The portfolio companies of CapMan Technology typically deliver industrial (OEM) and B-to-B infrastructure, applications or services.

Aloe Private Equity
Aloe Private Equity is a global firm with offices in London, Paris, Stockholm, Beijing and Hyderabad which manages two Private Equity Funds which are dedicated to the Energy and Environment. These Funds are focussed on investing in companies who have proven technologies and products who wish to expand into Europe, India and ASEAN countries. The Aloe team members are experienced entrepreneurs who have developed long-term strong trustworthy relationship in the markets mentioned. The Funds’ strategies are to invest in only a few companies and to partner with the company to grow the business together. Aloe actively supports Management Buy Outs and consolidation strategies. www.aloe-group.com or aloe@aloe-group.com

SEB Venture Capital
SEB Venture Capital is the European Venture Capital arm of SEB with offices in Stockholm, Gothenburg, Malmö, Vilnius and London. We are an evergreen investor with SEK 2 billion under management. Since inception in 1995 we have made more than 70 investments and 35 exits. SEB Venture Capital has 20 investment professionals targeting Technology, Life Science and Industrial growth investments across the Nordics, Baltics and U.K. New investments in 2007 include SP Devices Sweden AB and Quickcool AB. www.seb.se/venturecapital

KMW Energi AB
KMW Energi AB was founded in 1958 and is the leading supplier of mid-range bio fuel combustion plants in Sweden. The Company’s peak competence and patented combustion technique guarantee safe and efficient solutions combined with a low environmental impact. KMW Energi’s corporate office and manufacturing facility is located in Norrtälje and the Company employs 40 persons. KMW Energi is a member of the Swedish Bioenergy Combustion Association (SBCA). www.kmwenergi.se

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