Ascade has around 100 employees and offices in Stockholm, Miami, Dubai and Singapore.
Although financial terms of the deal were not disclosed, Ascade posted net sales of €11.3m in 2010, according to CapMan’s website.
CapMan made its initial investment in the company in 2002. Prior to the transaction, the firm owned around 41.4 per cent of Ascade’s shares.
“During our investment period, Ascade has expanded internationally, improved the scalability of its business, and reached a significant strategic position with a top-tier customer base,” said CapMan Technology senior advisor Lennart Jacobsson.
“We are confident that Ascade will continue to thrive under new ownership.”
The sale marks Capman’s third in less than two months, following the exits of Finnish discount chain Tokmanni to Nordic Capital and Russian telecoms service provider Tascom.
The exit does not impact CapMan Plc’s result for the current year as the selling funds are not in carry, it said.
Copyright © 2012 AltAssets