Highlight 20 December 2017

Krogerus advises Panostaja and other shareholders on the sale of KotiSun Group to fund managed by CapMan

Krogerus advised Panostaja Oyj and other shareholders on the sale of KotiSun Group Oy to CapMan Buyoyt X fund. The total debt-free sale price of the shares sold is estimated to be EUR 88 million.

As a result of the transaction, CapMan will become the majority owner of KotiSun Group, together with Finnish Industry Investment Ltd and Varma Mutual Pension Insurance Company. The management of KotiSun Group will own 30% of the company.

Founded in 2006, KotiSun Group is a nationwide company specialising in renovations of service water, heating and drainage systems with a turnover of EUR 42.5 million. The company employs some 400 people throughout Finland and has begun its expansion into Sweden.

Panostaja is an investment company developing Finnish SMEs in the role of an active majority shareholder. Panostaja’s shares are quoted on the Nasdaq Helsinki Stock Exchange.

The transaction, which is subject to regulatory approvals and other customary closing conditions, is anticipated to close 31 January, 2018.

The Krogerus team was led by partner Mika Ståhlberg. He was assisted by senior associate Joakim Jansson and associates Jasmin Wardi and Timo Rautiainen.

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