CapMan exits Samsa to Attendo
CapMan Plc Stock Exchange release 1 June 2016 at 9.00 a.m EEST
CapMan exits Samsa to Attendo
Funds managed by CapMan have agreed to sell their holdings in Sweden-based Samsa AB to the leading Nordic care company Attendo. The transaction is expected to close on 1 July 2016.
"We have exceeded our expectations for this investment. During CapMan's ownership, Samsa has grown rapidly both organically and through acquisitions. Samsa is in excellent shape through its long-term investments in quality and competence improvements among the personnel. Samsa is a role model and there are numerous opportunities for the new owner to continue developing the operations," says Johan Bennarsten, Chairman of the Board of Samsa and advisor of the CapMan Life Science IV fund.
Samsa and its subsidiaries provide treatment, residential care and educational services for young individuals with complex mental or behavioural problems as well as specialised supported living services for adults in the Mälardalen region in Sweden. The CapMan Life Science IV fund, in which also CapMan is a significant investor, invested in Samsa in 2009.
The exit has a significant result and cash flow impact to CapMan Plc
The transaction generates approx. €5.8 million in cash flow to CapMan Plc from CapMan's own fund investments and contributes approx. €1.6 million to CapMan Plc's 2016 result through additional positive changes in the fair value of CapMan's own fund investments that have not yet been booked during the course of the investment.
"The exit from Samsa builds on CapMan's positive development this year. Our result development and cash flow are favourable. One measure of our success as owners is whether our portfolio companies interest trade buyers. We have been a frontrunner in the care sector in both Finland and Sweden," comments Heikki Westerlund, CEO of CapMan Plc.
For more information, please contact:
Heikki Westerlund, CEO, CapMan Plc, tel. +358 50 559 6580
Johan Bennarsten, CapMan Life Science, tel. +46 707 495 659 (Samsa)
Manager, Communications & IR
CapMan is a leading Nordic investment and asset management company. For more than 25 years, we have been developing companies and real estate and supporting their sustainable growth. We are committed to understanding the needs of our customers in an ever-changing market environment. Our objective is to provide attractive returns and innovative solutions for our investors and value adding services for professional investment partnerships, growth-oriented companies and tenants. Our independent investment partnerships - Buyout, Real Estate, Russia and Nest Capital - as well as our associated company Norvestia are responsible for investment activities and value creation. CapMan's service business offering includes fundraising advisory services, purchasing activities and fund management services to both internal and external customers. CapMan has 100 professionals and assets under management of €2.7 billion.
Samsa AB offers, together with its subsidiaries Parangons, Dungens Korttidshem, Provide Omsorg, Lappvärket and Sälltäppans Behandlingshem, specialised living services, daily activities, educational services and short-term residence for young individuals, and adults with special needs. Samsa AB operates in the Mälardalen region in Sweden.