Eqvitec Technology Fund III and Finnish Industry Investment Ltd acquire majority stake in Scaninter Nokia

31.3.2008

Eqvitec Technology Fund III, advised by Eqvitec Partners Oy, has together with Finnish Industry Investment Ltd acquired a majority of shares in Oy Scaninter Nokia Ltd, one of the leading vertical access equipment manufacturers in Northern Europe.

 

Scaninter Nokia designs, manufactures and sells Scanclimber branded mast climbing work platforms and industrial hoists. The company has headquarters at Pirkkala, Finland and manufacturing takes place in Gniezno Poland. The company’s products include mast climbing work platforms (MCWPs) and material & personal hoists. The company constantly develops new products and has a strong product portfolio. Products are delivered to customers in Europe, Asia, Australia, Middle-East and USA. The company had revenues of EUR 28 million in 2007 and it employs some 320 people.

 

“We are excited to have new owners who are growth and entrepreneurship oriented. Eqvitec brings in valuable experience and we have now the resources to invest in growth and especially production”, says Juha Asikainen, Managing Director of Scaninter Nokia.

 

Jussi Hattula, Investment Director at Eqvitec Partners Oy, states: “We have a strong belief in that the mast climbing work platforms continue to gain market share in construction, especially in the market of rental equipment. Scaninter Nokia has a strong product portfolio to take advantage of this trend both in the fast growing Eastern European and Russian markets. We have also been impressed by the management’s professionalism and customer focused drive for growth.”

 

Kimmo Viertola, Director at Finnish Industry Investment Ltd, sees this co-investment as strengthening Scaninter’s market position in the already established international markets.

 

The current management members Juha Asikainen and Markku Simanainen of Scaninter Nokia remain significant owners in the company. Key employees were also offered ownership in the company.


Oy Scaninter Nokia Ltd
is Finnish one of the leading vertical access equipment manufacturer in Northern Europe, which manufactures and develops mast climbing work platforms and material/personnel hoists. The company was founded 1989. Head office, administration, marketing and R &D are located in Finland and the factory in Poland . The company functions globally, export is more than 80% of revenues. www.scanclimber.com

 

Finnish Eqvitec Partners Oy is one of the largest technology focused venture capital and private equity firms in Northern Europe. The company was founded in 1997 and employs 15 investments professionals in Helsinki and Stockholm. Eqvitec Partners currently advises five funds with a total capital base of 440 million euros. The funds invest in technology companies in all phases from start-up to buyouts. At the moment the funds have investments in 40 companies and have carried out 35 exits. www.eqvitec.com

 

Finnish Industry Investment Ltd is a government-owned investment company. The company invests the proceeds accrued from the privatisation of state-owned companies in stimulating the growth and internationalisation of Finnish businesses. Finnish Industry Investment invests in venture capital funds and directly in growth companies, together with private co-investors. The targets are in all sectors. Capital investments are needed for financing the growth of investee companies, and for spin-offs, major industrial investments, and sector and corporate restructurings. The investments of Finnish Industry Investment amount to some EUR 470 million. www.teollisuussijoitus.fi

 

 


More information:

 

Juha Asikainen, CEO, Oy Scaninter Nokia Ltd,
tel. +358 10 680 7070 or +358 400 636 616, juha.asikainen@scanclimber.com

 

Jussi Hattula, Investment Director, Eqvitec Partners Oy,
tel. +358 207 809 840 or +358 400 669955, jussi.hattula@eqvitec.com

 

Kimmo Viertola, Director, Finnish Industry Investment Ltd,
tel. +358 9 6803 6815 or +358 50 309 2734, kimmo.viertola@industryinvestment.com

 

 


Oy Scaninter Nokia Ltd
is Finnish one of the leading vertical access equipment manufacturer in Northern Europe, which manufactures and develops mast climbing work platforms and material/personnel hoists. The company was founded 1989. Head office, administration, marketing and R &D are located in Finland and the factory in Poland . The company functions globally, export is more than 80% of revenues. www.scanclimber.com

 

Finnish Eqvitec Partners Oy is one of the largest technology focused venture capital and private equity firms in Northern Europe. The company was founded in 1997 and employs 15 investments professionals in Helsinki and Stockholm. Eqvitec Partners currently advises five funds with a total capital base of 440 million euros. The funds invest in technology companies in all phases from start-up to buyouts. At the moment the funds have investments in 40 companies and have carried out 35 exits. www.eqvitec.com

 

Finnish Industry Investment Ltd is a government-owned investment company. The company invests the proceeds accrued from the privatisation of state-owned companies in stimulating the growth and internationalisation of Finnish businesses. Finnish Industry Investment invests in venture capital funds and directly in growth companies, together with private co-investors. The targets are in all sectors. Capital investments are needed for financing the growth of investee companies, and for spin-offs, major industrial investments, and sector and corporate restructurings. The investments of Finnish Industry Investment amount to some EUR 470 million. www.industryinvestment.com