CapMan Russia invests in MAYKOR - a leading Russian IT outsourcing service provider

Press Release - 26 August 2013 at 08.00 a.m. EEST

CapMan Russia invests in MAYKOR - a leading Russian IT outsourcing service provider

CapMan Russia II, a fund managed by CapMan, has made its first investment in MAYKOR - the leading Russian IT outsourcing service provider. The investment is made jointly with the Russian Direct Investment Fund (RDIF) and the European Bank for Reconstruction and Development (EBRD). The objective of the transaction is to further increase MAYKOR's market share in Russia.

MAYKOR has a leading market position with a federal footprint in Russia and is especially focused on the comprehensive one-stop-shop servicing of IT equipment, facility systems and business applications. The MAYKOR Group was founded in 2010. Today MAYKOR has 83 regional branches, over 400 service subdivisions and employs over 3000 certified engineers. The Group serves over 1,000 large and medium geographically distributed clients in various industries across Russia.

"We see great potential in the outsourcing industry and have first-hand experience in this space through several portfolio companies in the Nordics. The Russian outsourcing market consists of small service providers with limited regional coverage. In contrast, MAYKOR enjoys significant economies of scale that allow the company to remain highly competitive across Russia," states Heikki Westerlund, CEO and Senior Partner, CapMan Group.

"This investment will enable MAYKOR to continue to lead the process of industry consolidation through our selective M&A strategy. Integrating newly acquired service providers and increasing our cross-selling opportunities will further boost organic growth and improve our capability to support our customers. Moreover, the investment will help MAYKOR to improve corporate governance according to international standards,"says Sergey Sulgin, President of MAYKOR.

The IT market in Russia exceeded USD 24 billion in 2012. In the last year the sector has expanded by approximately 15 % and the growth rate is expected to increase further.

Further information:

Kåre Wessel, Investment Director, CapMan Russia, Tel: +7 495 620 48 85

Vadim Grishin, Director Investor Relations, MAYKOR, Tel: +7 917 557 83 77

CapMan Russia www.capman.com

CapMan Russia is a leading Russian private equity manager focused on small to mid-cap Russian growth companies. The team has made 40 investments and 28 exits since 1996. The latest fund held a first closing of €97 million in 2013. The team includes 12 people in Moscow. CapMan Russia is part of CapMan Group, a leading private equity firm in the Nordic countries and Russia, with assets under management of €3.3 billion. CapMan has five key investment partnerships - CapMan Buyout, CapMan Russia, CapMan Credit, CapMan Public Market and CapMan Real Estate - each of which has its own dedicated investment team and funds. Altogether, CapMan employs 105 people in Helsinki, Stockholm, Oslo, Moscow and Luxembourg.

MAYKOR Group (Service Holding Company LLC) www.maykor.com

MAYKOR is the largest group of companies on the Russian service and outsourcing market and specialized in comprehensive servicing of IT equipment, building utility systems and business applications. MAYKOR Group's mission is to ensure efficient operation and development of the infrastructure of large and medium-sized businesses throughout the entire country. With its own network of 83 branches and 400 local divisions covering the entire territory of Russia, MAYKOR Group provides services based on the "one-stop shopping" principle and has over 3,000 certified on-staff engineers. MAYKOR Group has a customer base of over 1000 companies, including some of the largest geographically distributed companies in all industries. MAYKOR Group has a one-of-a-kind competency center, advanced specialty training programs for its technical experts, a well-developed logistics infrastructure, an automated service monitoring and control system, and a quality management system compliant with international ISO -standards.

RDIF www.rdif.ru

Russian Direct Investment Fund (RDIF) was established in June 2011 to make equity investments primarily in the Russian Federation. In each investment it makes, RDIF is mandated to secure co-investment that as a minimum matches its commitment, thus acting as a catalyst for direct investment into the Russian economy.

EBRD www.ebrd.com

The EBRD, owned by 63 countries and two intergovernmental institutions, supports the development of market economies and democracies.

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