News/26 Mar 2014

Borenius Advised CapMan in Acquiring a Majority Holding in Harvia Oy

We advised funds managed by CapMan in their acquisition of majority holding in the Finnish Harvia Oy, one of the world’s leading companies in the sauna industry.

Established in 1950, Harvia is a family company owned by the Harvia family and the leader in the sauna heater market both in Finland and globally. Harvia’s turnover for 2013 was EUR 47 million, of which around 40% derived from Finland and around 60% from export to over 60 countries. The company employs around 300 people, of whom about 200 work in Finland and about 100 in China and Hong Kong.

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