CapMan Public Market Fund invests in Proffice AB

CapMan press release 15 December 2009 at 9.00 a.m EET



The fund holds 20.1 per cent([1]) of the votes and 4.3 per cent of the outstanding shares
CapMan Public Market Fund has acquired 4.3 per cent of shares in the Nordic staffing company Proffice AB from the company's main owner Mr. Christer Hägglund. The fund currently holds 20.1 per cent(1) of the votes in the company. The aim of CapMan Public Market Fund is to support Proffice in its future growth.
"Proffice has very good potential for further growth. The company is a leader in its markets and is, with its scale, strong management and specialist staffing focus well positioned to take advantage of increased penetration of temporary staffing. We are excited to participate in the further development of Proffice in cooperation with the company's Board of Directors, management and other large owners," says CapMan Senior Partner Joakim Rubin.
"Proffice has developed very favorably. I am proud of the company and its strong and committed management team and personnel," says Christer Hägglund. "The company is now in a position to take the next step in its development. I consider this a suitable time to share the main ownership responsibility, which I have held since 1989, with an owner who can bring additional commitment and competence to the company. I have therefore chosen to sell a part of my holdings in Proffice to CapMan, who I consider to be a serious and professional owner. I will remain the second largest owner in the company after the transaction and I am excited to take Proffice to the next level in cooperation with CapMan," Mr. Hägglund continues.
Proffice provides staffing solutions, recruitment as well as career and development services in the Nordic region. Founded in 1960, the company employs over 12,000 people in some 100 offices in Sweden, Norway, Denmark and Finland. Consolidated revenues amounted to SEK 4.3 billion in 2008. Proffice AB is listed on Nasdaq OMX Nordic Exchange in Stockholm.
CapMan Public Market Fund invests in listed Nordic mid-cap companies. The fund aims to bring CapMan's value creation tools to its portfolio companies and seeks to achieve long-term value enhancement through active ownership. To date the fund has announced investments in Europe's leading kitchen company Nobia AB and in Europe's leading credit management services company Intrum Justitia AB. Both companies are listed on the Nasdaq OMX Nordic Exchange in Stockholm.
For more information, please contact:
Joakim Rubin, Senior Partner, CapMan Public Market, tel. +46 70 558 42 78
CapMan www.capman.com
CapMan is one of the leading alternative asset managers in the Nordic countries and Russia 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 Market and 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.




[1] Adjusted for treasury shares
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