Press release - 5 September 2007
CapMan exits from Copterline
Finnventure Fund V has sold its shareholding of 14.7 percent in Copterline Oy to a Finnish investor consortium in which Ilmarinen via its investment fund and Ilkka Herlin are in the leading position. The exit has no substantial impact on CapMan Plc’s result for 2007.
Finnventure Fund V managed by CapMan invested in Copterline, the Finnish helicopter operation and maintenance organisation, in 2000. Copterline provides search and rescue services, helicopter emergency medical services and charter flights, among others. Copterline operated scheduled route flights between Helsinki and Tallinn in 2000–2006. The company had to suspend the scheduled route in August 2005 as a result of a helicopter accident caused by a technical failure in the helicopter’s main rotor servo.
”Copterline’s business and the scheduled route in particular developed well prior to the unfortunate accident. The new owners are prepared to make the required substantial further investments for the reopening of the scheduled route in early 2008. We are pleased with their plans to develop the company’s business, and we are confident that there is still a strong demand for scheduled route flights,” says CapMan’s Senior Partner Tuomo Raasio.
For further information, please contact:
Tuomo Raasio, Senior Partner, CapMan Buyout, tel. +358 9 6155 8305 or +358 400 405 682
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