CapMan takes an equity position in Havator from FInland.

CapMan, the Helsinki, FInland-based private equity group, announced that it made an equity share acquisition in the Havator Group, one of the Nordic region's leading suppliers of crane services, special transports, section assembly and harbor crane services.

Following completion of the transaction, CapMan Buyout IX fund will have an approx. 45% stake in the company. Erkki Hanhirova, who has been the majority owner of the company up until now, will hold approximately 40% stake. The remaining shares will be held by the Varma Mutual Pension Insurance Company and the company's management and other employees.

The transaction is subject to e.g. the approval of the competition authorities, and is expected to be completed in June. CapMan Plc is a major investor in the CapMan Buyout IX fund.

Founded in 1956 and led by CEO Jussi Yli-Niemi, Havator operates in Finland, Sweden, Norway, Russia, and the Baltic countries. The company recorded net sales of approx. €77 million in 2009 and employs over 450 people.