The CapMan Special Situations I fund has invested in two providers of assisted residential care for the elderly, Nonna Group Oy and Aurahovi Oy, with the aim of building a leading nationwide operator in Finland in the sector.
Nonna Group, founded in 2020, operates five units located in Rovaniemi, Oulu, Turku and Kuopio in Finland, with estimated revenue of approximately 鈧�5m in 2024.
Aurahovi, established in 2017, runs four units in Lieto, Huittinen, Uusikaupunki and Helsinki, with 2024 revenue of around 鈧�4m.
By combining the two companies, CapMan Special Situations said it is forming one of Finland鈥檚 鈥渓eading operators in the residential care sector鈥�, with a nationwide network of nine housing units and around 500 apartments.
Karri Keistinen, investment manager at CapMan Special Situations, said: 鈥淎ssisted residential care addresses the growing need to provide seniors with meaningful daily life and tailored support.
鈥淏y bringing together two strong companies, we are laying the foundation for a nationwide operator with excellent potential for growth and societal impact.鈥�
Jere Pessala, the new CEO of Nonna Group and Aurahovi added that 鈥渁ssisted residential care is a new service model that has gained strong support in regional welfare strategies鈥�
Pessala added: 鈥淚t is designed for seniors whose needs are not fully met by home care but who do not yet require round-the-clock support. Both companies have great potential, an excellent workforce and satisfied customers, providing a solid foundation for future success.鈥�
Investments in Aurahovi Oy and Nonna Group Oy constitute the seventh investment for the CapMan Special Situations I fund.
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