Nordic-focused private equity investor CapMan has agreed its second investment of the year by arranging to buy a majority stake in Finnish hotel chain Kämp Group.
The 127-year-old hotel business includes the five-star luxury Hotel Kämp in Helsinki, several GLO Hotels, four restaurants and a spa.
Financial details of the deal were not disclosed by Capman. Kämp Group has targeted a turnover of about €45m this year.
Capman Buyout senior partner Ari Tolpannen said, “The outlook for hotel business is excellent in the Helsinki metropolitan region, as both business and leisure travel are on the rise. We plan to increase the number of hotels and focus on international sales, high service standards and top quality.
“The current owner of the Kämp Group, Berling Capital Oy – co-owned by Esa Karppinen, his wife and three children – will remain an important minority owner of the Group.
“We are happy about the opportunity to further develop this legendary institution in Helsinki.”
Earlier this month CapMan bought 63 per cent of digital communications company The North Alliance.
The business comprises seven companies including Swedish agencies Åkestam Holst, Great Works and Bold and Norwegian design and technology company making waves.
TNA’s combined turnover is more than €50m, and it currently employs 450 people in Stockholm, Oslo, Copenhagen, New York and Krakow.
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