CapMan builds Nordic television production company

CapMan press release 29.5.2008
CapMan funds and the management of television production company Varesvuo Partners will join in cooperation with Monster AS, one of Norway's leading production companies. Varesvuo Partners and Monster will merge and form a new Nordic television, film and commercial production company, and Monster's founders will become significant owners in the new group.
CapMan Buyout VIII fund, Roope Lehtinen and the company's other management acquired Varesvuo Partners Oy from Talentum Corporation in January 2008. CapMan's target together with the management is to build the company into a substantial independent production company in the Nordic region. The merger with Monster is the first strategic step to achieve the goal. Varesvuo Partners' and Monster's aggregate turnover is estimated to total approx. EUR 40 million in 2008.
"Both companies are very well positioned in their respective countries, and as a group we are in a strong position to respond to the challenges in the internationalising content market. We are looking forward to start building the future together with Monster as it is Norway's leading production company and we share common values and passions." says Roope Lehtinen, CEO of Varesvuo.
"We're extremely pleased about becoming a part of the new Nordic group. Our Nordic footprint will enable us to better serve and attract clients on a pan-Nordic basis and enable us to further develop Monster and the group's initiatives. With the support of CapMan's active ownership, we will continue to strengthen our position strategically, financially and industrially and exploit both Nordic and international possibilities," says Monster's co-founder and CEO Olav Øen.
"We share a common vision with the management to build the new group into a substantial independent production company in the Nordic countries. We believe that content will grow further in importance in the rapidly evolving media sector, and that the new group has excellent prerequisites to gain clientele on the Nordic level. Both Varesvuo and Monster are trailblazers in their respective markets." says Olli Liitola, CapMan's Senior Partner and Chairman of the Board of the new group.
The add-on investment in the new company is made by CapMan Buyout VIII fund in which CapMan Plc is a substantial investor. CapMan funds will hold a majority in the new company and the group's management the remainder.
For more information, please contact:
Olli Liitola, Senior Partner, CapMan Buyout, tel. +358 207 207 506 or +358 400 605 040
Roope Lehtinen, CEO, Varesvuo Partners, tel. +358 41 590 007
CapMan www.capman.com
CapMan is one of the leading alternative asset managers in the Nordic countries and manages Nordic funds with approximately EUR 3.1 billion in total capital. CapMan has five investment areas (CapMan Buyout, CapMan Technology, CapMan Life Science, CapMan Russia and CapMan Real Estate), and each of them has a dedicated team and funds. Altogether CapMan employs 130 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.
Share on LinkedIn Share on Twitter