CapMan sells Espira

CapMan has sold Espira, a provider of pre-school services in Norway to the Swedish education company AcadeMedia. CapMan’s funds own approximately 92 percent of Espira’s shares.

PRESS RELEASE

CapMan sells Espira, one of the largest providers of pre-school services in Norway

Funds managed by CapMan have signed an agreement to sell Espira, one of the largest providers of pre-school services in Norway, to the Swedish education company AcadeMedia. CapMan’s funds own approx. 92% of Espira’s shares. The transaction is expected to be finalised during the second quarter of 2014.

CapMan’s funds initially invested in Espira in 2008. Since then the company has grown significantly, and is today one of the largest providers of pre-school services in Norway with around 7,500 children in 75 pre-schools. The core of the Espira strategy is to build high quality pre-schools based on a comprehensive pedagogical framework and an excellent service level. The company employs some 2,000 people and its turnover in 2013 was approximately EUR 140 million.

“During CapMan’s ownership, Espira has grown its operation from 36 to 75 pre-schools, and also built a substantial pipeline of new pre-schools to be established over the next few years. Moreover, we have invested significantly in quality measures, which has resulted in improved parental and employee satisfaction, providing a significant competitive advantage. We are confident that the Espira concept will continue its successful growth as part of AcadeMedia,” says Hans Tindlund, Partner at CapMan Buyout and responsible for the investment.

The majority of the investment in Espira was made from CapMan Buyout VIII fund, which owns approximately 85% of Espira’s shares.

For further information, please contact:
Hans Tindlund, Partner, CapMan Buyout, tel. +47 92 66 99 66