[PRESS RELEASE]
Sponsor Capital fund becomes the biggest owner (ca 30 %)
CapMan, which has been an active shareholder in Northern Europe’s largest financial management and payroll services company Pretax for the past nine years, is selling its holdings to another Finnish fund.
Sponsor Capital is a Finnish private equity investor, which primarily makes majority investments in medium-sized Finnish companies interested in expanding their operations. A common denominator of Sponsor investment clients is that they also seek growth outside Finland and wherever corporate acquisitions are considered a means to achieve growth and strengthen market position.
Sponsor Capital and its predecessor Sponsor Oy possess vast experience in helping medium-sized companies to expand their operations at home and abroad. Examples of these companies include Kaukomarkkinat, Suunto, Exel, Teleste, Ensto, Saunatec, Indoor Group, Huoneistokeskus, SKV, Contant/Lindorff, Erätukku and Barona.
”We’ve received a great deal of support from CapMan in different phases of our growth. Because everything in the world of private equity investments is temporary, it’s especially gratifying to get another Finnish private equity investor to help us continue realise our vision. The new shareholder agreement also comprehends capital for the company's next growth phase. We’re full steam ahead,” says Pretax CEO and partner Asko Schrey.
”Pretax is an inspiring company. In the past ten years it has expanded 30 times over, because it has a loyal and satisfied clientele, exceptionally motivated personnel, a third of its turnover already outside Finland and, consequently, an excellent starting point from which to continue internationalizing in a field where it is already one of the world’s largest companies,” says Sponsor Capital Oy partner Kaj Hägglund on their latest investment.
Further information:
Pretax
Asko Schrey, CEO
Tel. +358 (0)40 500 1655, asko.schrey(at)pretax.net
Sponsor Capital
Kaj Hägglund
Tel. +358 (0)400 403046
Pretax is the largest financial management and payroll processing services company in the Nordic countries. It will celebrating its 65th anniversary this autumn. We are a pioneer in the electronisation of financial services. Our goal is to give clients the freedom to succeed: providing information for decision-making with effective services. 15, 000 businesses and organisations have outsourced part or all of their financial management functions to us. We maintain operations in the Nordic countries, Holland, the Baltic countries, Russia and the Ukraine. We employ a staff of 1,400 professionals, 950 of which work at various locations throughout Finland. In international business operations Pretax uses the marketing name Accountor Group.
