CapMan Sells Stake in OneMed Group to 3i

Private equity firm CapMan and other owners of OneMed Group will sell their stakes to private equity firm 3i Group and OneMed’s management. CapMan owned roughly 66% of OneMed Group prior to the deal, which is expected to close in February 2011. OneMed is a medical supplies company based in Northern Europe. The company has offices in Finland, Sweden, Norway, Denmark and Poland.

The funds managed by CapMan and the other owners of OneMed Group Oy will sell their shareholding in OneMed Group Oy to 3i and OneMed’s management. CapMan funds’ ownership in OneMed was approx. 66% prior to the transaction. The impact of the transaction on CapMan Plc Group’s cash flow is expected to be approx. EUR 13 million in 2011. The transaction also moves Finnmezzanine III B and CapMan Buyout VIII funds considerably closer to carry. The closing of the transaction is subject to the approval of competition authorities and it is expected to be finalised in February 2011. The exit from OneMed does not have substantial impact on CapMan Plc Group’s result in 2010 or 2011.

In connection with the closing of the transaction, approximately one fourth of the CapMan Buyout VIII fund’s paid-in capital will be returned to investors in the fund. CapMan is a substantial investor in CapMan Buyout VIII fund, and as a consequence of this fund investment the impact of the transaction on CapMan Plc Group’s cash flow is expected to be approx. EUR 13 million in 2011.

OneMed is the leading medical supplies company in Northern Europe with operations in Finland, Sweden, Norway, Denmark, the Baltic countries and Poland.

CapMan made its initial investment in OneMed in June 2006, when it acquired Tamro Corporation’s healthcare product business unit Tamro MedLab. The name of the company was later changed to OneMed. The initial investment was followed by several add-on investments and significant acquisitions in the Nordic region and Poland, supporting the company’s growth into a leading position in Northern Europe. During CapMan’s ownership OneMed’s turnover has grown from EUR 148 million in 2006 to close to EUR 400 million pro-forma in 2010.

“CapMan’s and the management’s shared target has been to establish a market leading position in Northern Europe through becoming the customers’ one partner in medical supplies. We are well advanced, and OneMed now enjoys a strong strategic position. The cooperation with OneMed’s management has been very fruitful and we are very pleased to have found in 3i a new owner that is dedicated to further develop OneMed in its next growth phase,” says CapMan’s Senior Partner Ari Tolppanen, who has headed the investment in OneMed.

“OneMed has achieved tremendous growth during the four-year period demonstrating that a company operating in a fragmented and complex market can, with the assistance of an investment partner, make great progress. It is with confidence and enthusiasm that we enter this new chapter of our development,” comments OneMed’s CEO Andreas Göthberg.

“We are excited to get the opportunity to support Andreas and his team in building the leading distributor of medical supplies and devices in Northern and Eastern Europe by providing customers with quality products at competitive prices and superior service levels. Our experience within healthcare and distribution and our deep Asian network fits OneMed well,” says 3i’s Partner Mattias Eklund.

The funds exiting OneMed are CapMan Buyout VIII, CapMan Mezzanine IV and Finnmezzanine III B. CapMan was advised by Danske Bank Corporate Finance and DC Advisory Partners in this transaction.