The investment fund Accent Equity 2017 L.P. has signed an agreement to acquire Lunawood from funds managed by CapMan and a number of minority shareholders. Key management will continue as minor shareholders. The transaction is expected to close by year end 2019, as the company says in the press release received by Lesprom Network.
“We are very pleased to get Accent Equity as the new majority owner of Lunawood. Since Accent Equity has a proven track-record of accelerating international expansion we believe they will be a great partner for supporting Lunawood for the coming years when it comes to boosting organic growth and growing through add-on acquisitions,” says Arto Halonen, CEO of Lunawood.
Lunawood is one of the pioneers within thermally modified timber (“TMT”). The company, headquartered in Lahti, Finland, has three production facilities in Finland and own sales staff in Finland, Germany and France and representatives in Russia and China. Revenues have grown by 13.6% (average annual growth rate) since 2010 and now amount to approximately Euro 50 million.
