The Finnish investment company Sievi Capital Plc together with minority owners have agreed to sell the entire share capital of Finelcomp Oy to the company’s CEO Esa Kivi and to a private equity fund managed by Juuri Partners Oy.
Finelcomp develops and manufactures enclosures and fastening solutions for electrical and telecommunication systems. The company also produces high-quality metal components for the machinery industry. Finelcomp is the Finnish market leader in its field with a 50% market share and the company is growing in the Nordic countries.
Net sales of Finelcomp were 16 million euros in 2017 and the operating profit was 2.9 million euros. The company employs approximately 80 persons.
The debt free enterprise value of the transaction was approximately 13.4 million euros including a customary purchase price mechanism at the completion of the transaction.
-Sievi Capital invested in Finelcomp in 2014 and is now selling the company after a 3.5-year ownership period. During our ownership Sievi Capital has executed a business succession plan, implemented measures to increase production efficiency and launched the internationalization process. Our investment in Finelcomp has been very good and fulfilled the targets set, says Heikki Vesterinen, the CEO of Sievi Capital.
-The joint ownership with Juuri Partners is an excellent solution. I become the majority shareholder and at the same time the company gets strategic support from Juuri Partners for the development of the business. We continue to focus on product quality, reliability of deliveries and smooth co-operation with our vendors and partners. Our target is to continue growing in the future especially in the export markets, says Finelcomp’s CEO Esa Kivi.
ProMan IMAP Finland advised Sievi Capital throughout the sale process of Finelcomp.