The CapMan Growth Equity III fund has made its first investment in environmental technology company Tana. The investment has been made together with CapMan Growth’s long-term industrial advisor, Normet Group’s principal owner Aaro Cantell, and Elo Mutual Pension Insurance Company. Simultaneously the company’s executive management also invests significantly in the company. Tana’s long-term owner Kari Kangas and his family will continue as the company’s largest owner.

Tana Oy is an environmental technology company that promotes sustainable development by offering smart equipment and solutions for processing solid waste. The globally operating company is one of the world’s leading equipment manufacturers in the field, and its product portfolio includes shredders, screens, landfill compactors and remote monitoring systems. TANA products are exported to more than 50 countries through a global distribution network that includes more than 30 authorised Tana dealers. The company’s head office is in Jyväskylä, Finland.

Tana Oy is growing strongly and has been able to maintain an annual turnover growth rate of around 20% for several years while maintaining an excellent level of profitability. For the financial year ended in March, the company’s turnover is expected to exceed EUR 65 million, and the parties to the agreement have agreed to invest in strong growth in the future as well.

Towards market leadership in the global recycling industry

CapMan Growth is investing in Tana together with its long-term industrial advisor, Aaro Cantell, principal owner of Normet Group. With his Normet background, Cantell has very strong, almost 20-year experience in generating rapid growth in a similar sector providing mining solutions, and he will support Tana’s future growth in the role of chairman of the board. In addition to his expertise, he will also make a significant investment in the company. The investor consortium is completed by Elo Mutual Pension Insurance Company, and the company’s executive management is also investing significantly in the company. Tana’s long-term owner Kari Kangas and his family will continue as the company’s largest owner.

“Tana has been my passion for almost 30 years and has rewarded me in many ways. With my children’s passions elsewhere and our strong growth strategy requiring even more experience and capital, partnering with CapMan Growth was a perfect fit for my plans. It will be very interesting to continue to be part of the growth story in an industry that has huge growth potential and where our work is truly meaningful,” says Kari Kangas, Member of the Board of Tana.

“This investment will enable Tana to grow even faster than before. It is great to have such experienced investors and even more industrial expertise to support our growth story,” says Kalle Saarimaa, CEO of Tana Oy.

“I am really excited about this opportunity to team up with Aaro, Elo, the company’s operative management and the long-term owner Kari Kangas to develop Tana towards global market leadership. The recycling and reuse of materials is a rapidly growing industry globally, and during its long history the company has demonstrated its ability to innovate and grow profitably despite the recent turbulent operating environment,” says Tomi Alén, Partner at CapMan Growth in charge of the Tana investment.

“I’m thrilled for the opportunity to join Tana’s growth story. I have been following Tana’s impressive development for a long time, and I see there much of the same potential as I saw in Normet back in the day. I believe that I can help the company’s management on the road to renewal and profitable growth,” says Aaro Cantell, CapMan Growth’s long-term industrial advisor, who has grown Normet more than ten-fold in just over 15 years to achieve annual turnover of approximately EUR 500 million.

 

Further information

Kalle Saarimaa, CEO, Tana Oy
kalle.saarimaa@tana.fi
tel. +358 41 503 1337

Media contacts

Kirsi Ahonen, Marketing Director, Tana Oy
kirsi.ahonen@tana.fi
+358 50 575 6617

 

Tana Oy

Tana Oy is a Finnish environmental technology company founded in 1971. Tana is one of the leading developers and suppliers of mobile equipment for solid waste management thanks to its scalable business model and global distributor network. The product family includes shredders, screens, landfill compactors and digital solutions such as TanaConnect®. TANA machines are exported to more than 50 countries through our global network of distributors, which includes more than 30 authorised Tana dealers. Further information: www.tana.fi

Capman Growth

CapMan Growth is the leading Finnish growth investor making significant minority investments in entrepreneur-led growth companies with revenues ranging between €10–200 million euros. It offers entrepreneurs an alternative to selling the majority of their business by facilitating a partial exit while also supporting growth and internationalisation.

CapMan Growth is part of CapMan, a leading Nordic private asset expert with an active approach to value creation and over €5 billion in assets under management. As one of the private equity pioneers in the Nordics CapMan has developed hundreds of companies and assets creating significant value for over three decades. CapMan’s objective is to provide attractive returns and innovative solutions to investors by enabling change across its portfolio companies. Altogether, CapMan employs around 200 professionals in Helsinki, Jyväskylä, Stockholm, Copenhagen, Oslo, London and Luxembourg. CapMan is listed on Nasdaq Helsinki since 2001. Further information: www.capman.com