CapMan sells Farmos to KiiltoClean
CapMan´s funds have, along with fellow investor Langholmen Capital, sold their shareholdings in Farmos Holding to KiiltoClean. Finnish-based Farmos is a leading manufacturer and supplier of detergents, cleaning and hygiene products, as well as industrial chemicals.
Founded in 1953, Farmos’ net sales totalled approximately EUR 44 million in 2009 and ther company currently employs around 250 people in Finland, Russia, Estonia, Latvia, Lithuania, and Sweden.
The sale of Farmos is a partial exit for the CapMan funds CapMan Equity VII A, B, and Sweden, along with Finnmezzanine III A, B, and C, which originally invested in Lumene by acquiring Orion’s Noiro cosmetics unit in 2003. Farmos was spun off as an independent business from Lumene in 2008 and both companies have developed market leading positions in their respective sectors.
The exit will not impact CapMan Plc’s result in 2010, as the funds in question are not yet in carry.
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| Fund | CapMan Equity VII LP Argentum share 22.33% |
| Portfolio Company | Lumene |
| Date of Transaction | 2010-08-11 |
| Transaction | Trade-sale, Spin-out |
| Seller | CapMan Funds |
| Buyer | |
| Size of Transaction | |
| Ind. Focus | Consumer |
| Geography | Finland |
| Stage | Small/mid-cap buyout |