GP Bullhound Advised CapMan in the EUR 75 Million Divestment of CaPS

The transaction aligns with CapMan’s strategy of focusing on its core private asset fund management business. By divesting CaPS, CapMan will be able to allocate more resources towards accelerating the growth of this segment, while significantly enhancing its financial position, with a positive impact on its 2024 earnings and liquidity.

CaPS was originally established as a service for CapMan’s portfolio companies, but over the years, it has grown into a fast-growing, standalone platform. With more than 280 members and 290 vendors across Finland, Sweden, and the Baltics, CaPS achieved a turnover of EUR 10.2 million and an operating profit of EUR 5.9 million in 2023.

“I want to thank Maximilian for his excellent work in building CaPS into the unique platform it is today and wish him and the team all the best going forward. Already for some time CaPS has been operating largely as a standalone business with limited operational links to the rest of the group. As CapMan’s strategy is to grow the private asset fund management business, now is a natural time to divest CaPS and focus all our resources on developing the core,” says Pia Kåll, CEO of CapMan.

“CaPS has developed strongly as part of CapMan Group, and I am proud of the consistent work we have done with the CaPS team over these 15 years. Now it is time to move into the next phase of our growth journey. With this new ownership structure, we will become an even more valuable partner to our members and vendors and accelerate international growth of our unique offering” says Maximilian Marschan, Managing Partner of CaPS.

Carl Wessberg and Sven Raeymaekers, Partners at GP Bullhound, commented: “We are excited to have supported CapMan in the carve-out and majority sale of CaPS to Proxer Bidco Oy. With Proxer Bidco as a partner during this next era of growth, we look forward to seeing Maximilian and the team expand their market influence across the Nordics and beyond, while delivering ever increasing value to vendors and members across the network. This transaction highlights the strength and future potential of CaPS’s business model, and we eagerly anticipate seeing Maximilian and his team lead the company to even greater success.”

The transaction is set to provide CapMan with strong liquidity, and the company’s board is expected to propose a significant dividend at the 2025 Annual General Meeting, further demonstrating the financial benefits of this divestment. CapMan will also host a Capital Markets Day on 11 March 2025 to discuss its future strategic focus areas and growth initiatives.

Enquiries:
For enquiries, please contact:
Sven Raeymaekers, Partner at GP Bullhound sven.raeymaekers@gpbullhound.com
Carl Wessberg, Partner at GP Bullhound carl.wessberg@gpbullhound.com
Press: press@gpbullhound.com

About CapMan
CapMan is a leading Nordic private asset expert with an active approach to value creation and €5.8 billion in assets under management. As one of the private equity pioneers in the Nordics we have developed hundreds of companies and assets creating significant value for over three decades. Our objective is to provide attractive returns and innovative solutions to investors by enabling change across our portfolio companies. An example of this is greenhouse gas reduction targets that we have set under the Science Based Targets initiative in line with the 1.5°C scenario and our commitment to net-zero GHG emissions by 2040. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover real estate and infrastructure assets, natural capital and minority and majority investments in portfolio companies. We also provide wealth management solutions. Our service business includes procurement services. Altogether, CapMan employs around 200 professionals in Helsinki, Jyväskylä, Stockholm, Copenhagen, Oslo, London and Luxembourg. We are listed on Nasdaq Helsinki since 2001. Learn more at www.capman.com.

About GP Bullhound
GP Bullhound is a leading technology advisory and investment firm, providing transaction advice and capital to the world’s best entrepreneurs and founders. Founded in 1999, the firm operates across 12 offices in Europe and the US. For more information, visit www.gpbullhound.com.