Investee Company & Country – Marioff Corporation Oy (Finland)
Investee Company Business Type – Manufactures fire extinguishing systems
Type of Financing – Acquisition
Equity Providers – Nordic Capital
Equity Leader (Individual) – Felix Bjoklund, Partner Nordic Capital
Debt Providers – No debt provided
Debt Type – N/A
Debt Leader (Individual) – N/A
Equity Amount – FIM100 million (euro16.8 million)
Total Deal Value – FIM100 million (euro16.8 million)
Comments – This acquisition by Nordic Capital is to acquire 50% of the company through an investment of FIM100 million. This will be done through a combination of purchase shares and a subscription of new shares. Founder and owner of Marioff, Goran Sundholm, will retain the other 50% share.
Felix Bjorklund said: “Marioff is already now a profitable fast growing company. With Nordic Capital as partner additional capital will be available for further growth and global expansion. We look forward to developing the company jointly with its management.”
Goran Sundholm, managing director of Marioff Corporation, said the aim of the business is to significantly increase sales through organic growth and geographic expansion.
Marioff develops fire extinguishing solutions based on high pressure water mist technology called HI-FOG. The technology is a registered brand with more than 700 world patents. The technology has an approximate world market share of 90% of installations in cruise and passenger vessels.
The Company has a turnover of FIM292 million (euro49.1 million), and employs 222 people. Based in Vantaa, Finland, the company has subsidiaries throughout the Nordic countries and the rest of Europe. It also produces land-based systems for underground trains and stations.