Stock exchange release - 22 May 2008
CapMan exits StaffPoint, impact on CapMan Plc’s result approx. EUR 4 million
CapMan funds Finnventure Fund V and Finnmezzanine Fund II B and D as well as Finnmezzanine Fund III A, B and C have announced the realisation of their investment in Finnish staffing agency StaffPoint Oy. The exit will have an impact of approx. EUR 4 million on CapMan Plc’s result for 2008 as a result of carried interest income received from Finnventure Fund V and Finnmezzanine II B.
The funds managed by CapMan will sell their 66 per cent stake in StaffPoint to Oy G.W.Sohlberg Ab, Varma and the company’s management. The funds invested in StaffPoint in 2002 and the investment has been successful for investors in Finnventure Fund V and the mezzanine funds.
StaffPoint is Finland’s leading temporary personnel agency with some 18,000 workers on their books. The company’s turnover was EUR 87 million in 2007.
”StaffPoint has developed very well in the last few years and the company’s turnover has grown by almost one-fifth annually. I believe that the strategic position we have built for the company together with the management during CapMan’s investment period and the growth forecasts for the temporary staffing industry create good prerequisites for StaffPoint’s business also in future,” states Tuomo Raasio, Head of CapMan Buyout and Senior Partner.
SUMMA Corporate Finance acted as financial adviser to CapMan and other sellers.
For further information, please contact:
Tuomo Raasio, Head of CapMan Buyout, Senior Partner, tel. +358 207 207 505 or +358 400 405 682
CAPMAN PLC
Mari Reponen
Communications Director
Investor Services
DISTRIBUTION
Helsinki Stock Exchange
Principal media
www.capman.com
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