Vehicle Logistics Unit provides logistics services to vehicle manufacturers, importers and dealers. The Unit has operations in Finland, Sweden, Denmark and in the Baltic states, and it is the leading provider of vehicle logistics services in the Baltic Sea region. The Unit operates in Sweden and in Denmark through a sister company SkandiaTransport.
The transaction will be made for a new company. After the restructuring the funds managed by CapMan will hold 60% of the company, John Nurminen Oy 25% and the operative management 15%. The Vehicle Logistics Unit’s 500 employees will continue in their previous duties. The Managing Director of John Nurminen, Mr Jan Lönnblad, will transfer to the management of the new company. The execution of the transaction is subject to approval by competition authorities and it is expected to be finalised by the end of March.
In 2006, the combined turnover of its vehicle logistics companies amounted to around EUR 93 million. The focus with the expansion of the ownership base will be on growth and development of the vehicle logistics business – particularly by expanding in Russian and Baltic markets. John Nurminen Oy will focus on the development of its other core businesses in future.
”The divestment of John Nurminen’s Vehicle Logistics Unit will enable the centralisation of the vehicle logistics business in accordance with our growth strategy. We are very pleased to have CapMan’s resources and wide Nordic network supporting the development and expansion of Vehicle Logistics’ operations,” states Jan Lönnblad, Managing Director of John Nurminen Oy.
”CapMan’s investment decision was influenced by the Vehicle Logistics Unit’s leading position in Nordic and Baltic markets, strong growth potential and highly experienced management. Together with the management we will develop Vehicle Logistics as an independent company through organic growth and possible acquisitions,” says CapMan Senior Partner Markus Sjöholm.
The investment in the company was made by CapMan Buyout VIII and CapMan Mezzanine IV funds, in which CapMan Plc is a substantial investor.
For further information, please contact:
Markus Sjöholm, Senior Partner, CapMan Buyout, tel. +358 9 6155 8312 or +358 40 508 0121
Jan Lönnblad, Managing Director, John Nurminen Oy, tel. +358 10 545 2420