CapMan Russia, a Russian private equity fund managed by CapMan, has acquired a 29% share in Russian laboratory analytical equipment manufacturer Lumex Instruments. The company has operations in Russia, the CIS, China, the European Union, the US and Canada. Financial details of the acquisition were undisclosed.
CapMan Russia, a leading Russian private equity fund managed by CapMan, has acquired a 29% share in a Russian laboratory analytical equipment manufacturer Lumex Instruments. With operations in Russia, the CIS, China, the European Union, the USA and Canada, the company aims at becoming the leading player in its field globally. In the coming years, CapMan will accelerate Lumex’s international expansion.
Headquartered in St. Petersburg, Lumex is an innovative developer and manufacturer of analytical instruments. The products are used in a large number of scientific, industrial and environmental applications in various industries. Lumex has a leading position in Russia and currently exports to more than 70 countries worldwide. Going forward, Lumex seeks to expand to the Life Science market with attractive growth opportunities. The company’s turnover is expected to exceed €11 million in 2011.
“With proven business model, high-quality products and major growth potential, Lumex is an excellent fit to our investment focus in Russia. Our goal is to further develop the company’s existing strong position in its current markets and to help the management in building Lumex into a truly international player. In addition, we will focus on strengthening the company’s distribution and marketing functions to accelerate growth and expansion to new market segments”, says Maxim Popov, Investment Director at CapMan in charge of the investment.
“We are happy to team up with CapMan to further develop Lumex. As an established investor in the Russian market, CapMan has a strong track record in backing successful companies. I am therefore confident that by working together with CapMan, we will achieve our goal of becoming one of the leading players in the analytical instruments market globally”, says Alexander Stroganov, CEO of Lumex Instruments.
CapMan Russia currently holds approx. 29% of the shares in Lumex and is targeting to increase its ownership to 44% during the next year. The founding shareholders will hold the remaining shares. CapMan Plc is a major investor in CapMan Russia fund.
Maxim Popov, Investment Director, CapMan Russia, tel. +7 495 620 48 85
Alexander Stroganov, CEO, Lumex Instruments, tel. +7 812 718 55 81