CapMan funds and private equity investor 3i have realised their investment in Swedish repeater manufacturer Avitec AB. Avitec has been acquired by ECI, a UK based private equity investor.Avitec manufactures repeaters for mobile telecommunication networks. Repeaters are hardware equipment that are installed to complement the functionality and the coverage in the networks. Avitec has customers world-wide and its net sales amounted to EUR 22.1 million in 2006. Currently Avitec employs 64 people.
The CapMan funds CapMan Equity VII, Finnventure V ET and Swedestart Tech made the initial investment in Avitec in 2002 together with 3i, and have made two add-on investments in 2004 and in 2005.
Keystone Advisers acted as financial adviser to CapMan and 3i.
Keystone Advisers is a fully independent Corporate Finance firm offering
advice related to mergers and acquisitions (M&A), divestitures, as
well as various financing arrangements. The firm has advised on
approximately 140 transactions to a variety of different clients in a
number of sectors since the inception in 2000. Keystone Advisers is a
Partner owned firm and where the founders have experience from
Investment Banking and Management Consulting from some of the largest
global institutions. We are a team of 14 professionals at the Stockholm
office and in addition we have an own organization in the Baltic
countries. Keystone Advisers aims to be the leading mid-market M&A
advisory firm in the Swedish market.