CapMan Growth exits Avidly

September 7, 2022

CapMan Growth Equity Fund 2017 has sold its holdings in marketing service provider Avidly Oyj as the tender offer by Anton Holding II Oy (Adelis Equity Partners) has been approved by (96% of) all shareholders.

Avidly’s shareholders were offered a fully diluted share price of 5.50 euros per share. The offer price represented a premium of approximately 49% over the closing price on 11 July.

CapMan Growth Equity Fund 2017 first invested in Avidly in 2018, increased its holdings in a directed offering in 2020 and now sells its shares with a profit. “Since our initial investment the company has grown into a leading European HubSpot partner, operating in seven countries. We are happy with the financial outcome and the fact that Avidly will now have an even stronger financial backing as a private company owned by Adelis Equity Partners.“ says Juha Mikkola, Avidly board member and senior partner of Capman Growth.

Avidly is a leading European martech service provider deeply rooted in creating innovation in creativity, sales & technology. Avidly was formed in 2018 from a company fusion of four HubSpot diamond partners: Zeeland Family (Finland), Doidea (Sweden), Katalysator (Denmark), and Inbound Norway (Norway). In 2019, Avidly acquired NetPress from Germany as part of the company.