2013-08-26 07:03:01 -
Press Release - 26 August 2013 at 08.00 a.m. EEST
CapMan Russia invests in MAYKOR - a leading Russian IT outsourcing service
CapMan Russia II, a fund managed by CapMan, has made its first investment
in MAYKOR - the leading Russian IT outsourcing service provider. The investment
is made jointly with the Russian Direct Investment Fund (RDIF) and the European
Bank for Reconstruction and Development (EBRD). The objective of the transaction
is to further increase MAYKOR's market share in Russia.
MAYKOR has a leading market position with a federal footprint in Russia and is
especially focused on the comprehensive one-stop-shop servicing of IT equipment,
facility systems and business applications. The MAYKOR Group was founded in
2010. Today MAYKOR has 83 regional branches, over 400 service subdivisions and
employs over 3000 certified engineers. The
Group serves over 1,000 large and
medium geographically distributed clients in various industries across Russia.
"We see great potential in the outsourcing industry and have first-hand
experience in this space through several portfolio companies in the Nordics. The
Russian outsourcing market consists of small service providers with limited
regional coverage. In contrast, MAYKOR enjoys significant economies of scale
that allow the company to remain highly competitive across Russia," states
Heikki Westerlund, CEO and Senior Partner, CapMan Group.
"This investment will enable MAYKOR to continue to lead the process of industry
consolidation through our selective M&A strategy. Integrating newly acquired
service providers and increasing our cross-selling opportunities will further
boost organic growth and improve our capability to support our customers.
Moreover, the investment will help MAYKOR to improve corporate governance
according to international standards,"says Sergey Sulgin, President of MAYKOR.
The IT market in Russia exceeded USD 24 billion in 2012. In the last year the
sector has expanded by approximately 15 % and the growth rate is expected to
Kåre Wessel, Investment Director, CapMan Russia, Tel: +7 495 620 48 85
Vadim Grishin, Director Investor Relations, MAYKOR, Tel: +7 917 557 83 77
CapMan Russia www.capman.com
CapMan Russia is a leading Russian private equity manager focused on small to
mid-cap Russian growth companies. The team has made 40 investments and 28 exits
since 1996. The latest fund held a first closing of €97 million in 2013. The
team includes 12 people in Moscow. CapMan Russia is part of CapMan Group, a
leading private equity firm in the Nordic countries and Russia, with assets
under management of €3.3 billion. CapMan has five key investment partnerships -
CapMan Buyout, CapMan Russia, CapMan Credit, CapMan Public Market and CapMan
Real Estate - each of which has its own dedicated investment team and funds.
Altogether, CapMan employs 105 people in Helsinki, Stockholm, Oslo, Moscow and
MAYKOR Group (Service Holding Company LLC) www.maykor.com
MAYKOR is the largest group of companies on the Russian service and outsourcing
market and specialized in comprehensive servicing of IT equipment, building
utility systems and business applications. MAYKOR Group's mission is to ensure
efficient operation and development of the infrastructure of large and medium-
sized businesses throughout the entire country. With its own network of 83
branches and 400 local divisions covering the entire territory of Russia, MAYKOR
Group provides services based on the "one-stop shopping" principle and has over
3,000 certified on-staff engineers. MAYKOR Group has a customer base of over
1000 companies, including some of the largest geographically distributed
companies in all industries. MAYKOR Group has a one-of-a-kind competency center,
advanced specialty training programs for its technical experts, a well-developed
logistics infrastructure, an automated service monitoring and control system,
and a quality management system compliant with international ISO -standards.
Russian Direct Investment Fund (RDIF) was established in June 2011 to make
equity investments primarily in the Russian Federation. In each investment it
makes, RDIF is mandated to secure co-investment that as a minimum matches its
commitment, thus acting as a catalyst for direct investment into the Russian
The EBRD, owned by 63 countries and two intergovernmental institutions, supports
the development of market economies and democracies.
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Source: CapMan Oyj via Thomson Reuters ONE