May 17 - Finnish Institutional investor CapMan Buyout IX has taken a significant stake in the Havator Group, one of the Nordic region's leading suppliers of crane services, special transports, section assembly and harbour crane services.
CapMan's aim is to further strengthen Havator's position in the Nordic market.
"Havator's business has grown strongly, both organically and through a number of acquisitions which have been completed in the 2000s. The company has excellent references in handling challenging projects successfully. We believe that, together with the company's management, we can further strengthen Havator's competitiveness and market position, particularly in the Nordic countries, for example through acquisitions," says CapMan partner Anders Björkell.
Founded in 1956, Havator operates in Finland, Sweden, Norway, Russia, and the Baltic countries. The company recorded net sales of approximately EUR77 million in 2009 and employs over 450 people. Following completion of the transaction, CapMan Buyout IX fund will have an approximate 45 percent stake in the company.
The transaction is subject to e.g. the approval of the competition authorities, and is expected to be completed in June.