References/20 Apr 2016

Borenius advised the CapMan Buyout X fund on the sale of Suomen Lämpöikkuna to Inwido AB (publ)

We advised the CapMan Buyout X fund on the sale of its majority holding in Värmelux Oy, the parent company of Suomen Lämpöikkuna Oy, to Inwido AB (publ). This is the first exit of the CapMan Buyout X fund.

Suomen Lämpöikkuna Oy – best known for its service brand Lämpölux – has grown fast since its establishment in 2010. The company has continued its rapid growth after CapMan Buyout’s investment in 2014: turnover has increased around 15% per year from EUR 23 million to EUR 30 million. In addition, the company’s profitability has improved, and the number of employees has nearly doubled from 126 to 210.

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Johan Roman




Heikki Wahlroos



Henriikka Piekkala