Stock Exchange Release - 7 January 2010
“We saw a good opportunity to take part in the changes reshaping the financial management of small and medium-sized companies by investing in Pretax, and be part of consolidation in the field and moves to leverage the potential of new technology in accounting,” says CapMan Senior Partner Olli Liitola. “The company’s net sales have over thirty-folded during our ownership period. After a relatively long holding period the exit now announced was a normal step.”
“We have been very satisfied with how Pretax has developed during the time CapMan has been involved with the company. Pretax is well-placed to continue seeking further growth, and the other major owners continue supporting the company. In order to secure the company’s growth it was a natural step forward to search a financial owner for CapMan’s share in Pretax”, says Asko Schrey, the CEO of Pretax Oy and its largest owner.
The investment in Pretax has proved a very good one for investors in the CapMan funds concerned.
Olli Liitola, Senior Partner, CapMan Buyout, tel. +358 400 605 040
Asko Schrey, CEO, Pretax Oy, tel. +358 40500 1655
Helsinki Stock Exchange
CapMan is one of the leading alternative asset managers in the Nordic countries andRussia and manages private equity funds with approximately EUR 3.5 billion in total capital. CapMan has six investment areas (CapMan Buyout, CapMan Technology, CapMan Life Science, CapMan Russia, CapMan Public Marketand CapMan Real Estate), and each of them has a dedicated team and funds. Altogether CapMan employs approx. 150 people in Helsinki, Stockholm, Copenhagen, Oslo and Moscow. CapMan was established in 1989 and its B shares are listed on the Helsinki Stock Exchange since 2001.