Folmer Management Oy, supported by the European Investment Fund, has raised its second private equity fund, Folmer Equity Fund II Ky, which will continue the investment strategy of Folmer Equity Fund I Ky. The size of the fund at first closing is EUR 62 million, with a maximum target of EUR 75 million at final closing.
Folmer Equity Fund II makes majority investments in Finnish SMEs with revenue in the range of EUR 2-50 million and enterprise value of EUR 3-15 million. The value creation model is based on the identification of growth potential in portfolio companies as well as developing human capital into competitive advantage.
”Our hard work in private equity and Finnish entrepreneurship continues with our second fund. We have shown good results: the six companies in our current portfolio have generated average annual revenue growth of well over 10 %. We have achieved this together with the entrepreneurs through persistent strategy work, investing into human resources and supporting management,” says Sami Tuominen, CEO and Partner of Folmer Management Oy.
”Our operating model of being a partner for management that acknowledges the value of human capital has convinced investors and entrepreneurs. We will continue our work in building strong growth in portfolio companies”, says Johanna Marin, Private Equity Investment Director and Partner of Folmer Management Oy.
The main investors in Folmer Equity Fund II Ky are European Investment Fund, Tesi, KRR II and Finnish institutional investors such as Ilmarinen, Tradeka-invest, OP Insurance, ELO, OP Bank Group Pension Fund and OP Life Assurance Company. Folmer Management has also invested in the fund. The EIF investment benefits from EU support under the COSME programme funded by the European Commission.
EIF Head of Lower Mid-Market, Jean-Philippe Burcklen said: “EIF is especially pleased expanding its network in Finland and supporting this emerging player with a clear value-creation strategy. Folmer will help complementing both EIF's existing portfolio and market infrastructure, while providing alternative financing solutions to Nordic companies.”
”There is room in the Finnish private equity market for a team like Folmer that can develop SMEs to become front-runners in their home market as well as internationally. Folmer has a strong track record in growth investments. With sufficient resources, portfolio companies will be able to invest in business development, growth and expansion to new markets”, says Riitta Jääskeläinen, Investment Director at Tesi.
EIF: David Yormesor
Tel.: + 352 42 66 88 346, E-Mail: firstname.lastname@example.org
Folmer: Sami Tuominen, CEO, Partner, Folmer Management Oy
Tel.: +358 40 708 4905, E-mail: email@example.com
Folmer: Johanna Marin, Private Equity Investment Director, Folmer Management Oy
Tel.: +358 40 533 9115, E-mail: firstname.lastname@example.org