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CapMan invests in Finnish window, door company LämpöLux

13 Feb 2014

Nordic private equity firm CapMan has invested in Finnish window and door renovation company Suomen Lämpöikkuna.

The company is best known for its service brand LämpöLux, which provides turnkey window and door renovation services to household customers

The current management remains a significant minority owner in the transaction, which aims to further expand the market position of LämpöLux in Finland. The company’s turnover for 2013 was €23m and it currently employs 130 people around Finland. The window renovation market for households in Finland is currently estimated at €175m annually and the market is expected continue its steady growth.

“The industry has excellent growth forecast as the current age of the Finnish single house building stock makes maintenance renovations topical for a significant portion in the near future. In addition, consumers are increasingly looking for more energy efficient solutions. According to surveys, the customers of LämpöLux are very satisfied with the unique service concept, which provides LämpöLux with excellent possibilities to profit from the growing demand. We have solid experience in the field through our investment in a similar case, Pohjolan Design-Talo Oy,” said Tuomo Raasio, senior partner at CapMan Buyout, responsible for the investment.

Suomen Lämpöikkuna Oy is the third investment from the CapMan Buyout X fund, which targets the Nordic mid market.

CapMan Buyout is the largest mid-market private equity team in the Nordic region, with 20 investment professionals in Finland, Norway and Sweden. CapMan Buyout is part of CapMan Group, with assets under management of €3.1bn. The firm has five key investment partnerships – CapMan Buyout, CapMan Russia, CapMan Credit, CapMan Public Market and CapMan Real Estate.

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