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Management buy-back of Euran

Nordea Capital and CapMan have exited their investment in Finland-based Euran Kuluttajatuotteet thanks to a management buy-back of their stake in the company. Christian Fredman, managing director of consumer products company Euran, and his family, bought the 65 per cent stake in the company that was previously held by the two private equity houses. Fredman and his family are now the sole owners, having acquired a 35 per cent stake at the time of the buyout.

The value of the deal was not disclosed but Markus Sjholm, a partner on CapMan’s buyout team and board member of Euran, said the firm was satisfied with the exit. The carried interest earned by CapMan from the deal is EURO0.5 million. Sjholm said Euran had developed steadily into a very profitable company.

CapMan and Nordea Capital, the private equity division of Nordic financial services group Nordea, invested in the management buyout of Euran from Ahlstrom Consumer Products in 1997. The company makes paper, plastic and foil food packaging and preparation products. It supplies industrial, catering and retail markets and last year had a turnover of o16.9 million. Euran employs 65 people in Lappi and Espoo, Finland.