Aurajoki, a company that specialises in metal surface treatments, surfacing more than 40,000 tonnes of metal annually, has been sold by CapMan’s Finnventure IV and Finnmezzanine II funds for E6.7m. This represented a 72% stake in the business in which CapMan first invested in 1999. Aurajoki has been sold to Primaca Partners, the firm started earlier this year by a number of private individuals to invest in small and medium sized Finnish buyout opportunities.
Sanna Argillander, partner at CapMan, said: “Aurajoki Oy is the industry’s market leader in Finland. The company has good prospects in both hot-dip galvanising and electrolytic metal plating. The favourable development of Aurajoki’s customer segments also gives a solid foundation for the further development of the company’s business.”
MCF Corporate Finance acted as financial advisor to CapMan in the deal. CapMan originally invested in the business alongside the managing director Sakan Laitervo, who held the remaining equity in the business.