CapMan backs Finnish sauna business Harvia


FinlandPrivate equity firm CapMan has agreed to buy a majority stake in Finnish sauna business Harvia via its Buyout X fund.

In addition to sauna heaters, Harvia has expanded its production to include steam rooms, bathroom saunas and sauna accessories.

Last year Harvia shipped its products to more than 60 countries, which accounted for 60 per cent of its total sales of €47m.

Partner at CapMan Buyout Anders Björkell said, “Harvia fits our investment strategy very well. The company is a market leader in its industry and it is exceptionally well managed. It also has a strong corporate culture, a respected brand and loyal customers.

“Harvia’s success is based on its competent staff, efficient production and excellent R&D.

“We are happy about the opportunity to support Harvia’s growth and to further develop the company together with Harvia family.”

Last month the firm invested in Finnish window and door renovation company Suomen Lämpöikkuna.

Copyright © 2013 AltAssets