Investments in companies - 10.3.2016
Touhula Varhaiskasvatus was founded in 2010 and today operates over 80 pre-schools and day-care centers across Finland. Coronaria Hoitoketju, the majority shareholder of Touhula, has agreed on a transaction that upon closing will make EQT Mid Market fund the majority shareholder of Touhula.
The company has a unique high-quality education philosophy and operates two different brands: Touhula and Aarresaari, encouraging children to natural physical activity and adventure. As a private company, Touhula complements the welfare services provided by municipalities and increases the options available to parents in choosing a suitable day-care provider for their children. The majority of Touhula’s day-care centers operate under a voucher model. The voucher model ensures equal access to private day care to all Finnish families.
"The Touhula way – our new purpose-built facilities and high quality early education services – have received very positive feedback from parents in over 30 municipalities across Finland. With satisfied parents and EQT as a responsible owner, Touhula will be able to expand to new areas in Finland and in the future provide additional services and day-care concepts”, says Touhula’s CEO Jari Mäki-Runsas.
The customer and working relationships of Touhula Varhaiskasvatus Oy will continue as before. The resources of Touhula Varhaiskasvatus to develop quality early childhood education and offer attractive employment to professionals in the field will further strengthen with the expansion of the ownership base.
”It is really exciting to join the company at this stage with EQT and previous owners going forward to the next growth phase. Together we want to facilitate Touhula’s long-term development and expansion”, comments Juuso Puolanne, Investment Director from Finnish Industry Investment.
“EQT is an active and responsible owner, with a long history of developing companies and adding value to society by having a sustainable and long term approach. Touhula has excellent service concepts, as well as high levels of customer and employee satisfaction, which signal that the business is run in a good and sustainable manner. We believe EQT is well suited to support the Company’s growth in Finland, and add value to society at large through high-quality pre-school education services. We are very pleased to have the current owners, Cor Group, Finnish Industry Investment and Norvestia, to continue as minority shareholders of Touhula”, says Jarkko Murtoaro, Director at EQT Partners, the Investment Advisor to EQT Mid Market.
After completion of the acquisition, EQT Mid Market will be the majority owner of Touhula Varhaiskasvatus Oy. The current management, Cor Group Oy, Finnish Industry Investment Oy and Norvestia Oyj will continue as minority shareholders. The transaction is subject to approval of the Finnish Competition Authority and is expected to be completed during April.
Jari Mäki-Runsas, CEO, Touhula
tel. +358 40 355 9277, firstname.lastname@example.org
Jarkko Murtoaro, Director, EQT Partners
tel. +358 40 577 1456, email@example.com
Juuso Puolanne, Investment Director, Finnish Industry Investment
tel. +358 50 570 0235, firstname.lastname@example.org
Touhula Varhaiskasvatus Oy is a Finnish early education service provider. Touhula Day Care Centers offers high-quality stimulating pre-school education in a fun and safe environment. Touhula has received the ISO9001 quality certificate. Aarresaari Day Care Centers are focused on activity, music and adventure. Touhula takes care of approximately 6,000 children and employs approximately 1,000 day care professionals.
For furtner information, please visit: http://touhula.fi/en/
EQT is a leading global private equity group with approximately EUR 29 billion in raised capital. EQT has portfolio companies in Europe, Asia and the US with total sales of more than EUR 17 billion and approximately 140,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.
For further information, please visit: www.eqt.fi www.eqt.se
Finnish Industry Investment Ltd is a government-owned investment company that promotes Finnish business, employment and economic growth through venture capital and private equity investments. The investments of Finnish Industry Investment amount to 900 million euros.
For further information, please visit: www.industryinvestment.com and @TesiFII