Noiro deal closed

 

The operations will continue under the name Noiro Ltd. 

 

Key persons, including Chairman Jussi Länsiö and Managing Director Pekka Rautala, will become shareholders of Noiro with a combined ownership of approximately 5 to 7 percent. The Board of Directors is formed by Mr. Länsiö, CapMan's Senior Advisor Orvo Siimestö and Investment Director Lars Hagelstam, and it will be complemented later with additional members.

 

Orion Corporation

 

Jukka Viinanen            Olli Huotari
President and CEO      General Counsel

 

Jukka Viinanen, President and CEO, phone +358 10 429 3710

 

Pekka Rautala, Managing Director, phone +358 204 877 270

 

Orvo Siimestö, Senior Advisor, phone +358 9 6155 8328 or +358 40 562 0317

 

Fact Sheet

 

 

Noiro is engaged in cosmetics, personal hygiene and hairdressing products as well as institutional cleaning. In terms of research and development and manufacturing, Noiro is the largest enterprise in Scandinavia in its fields of business. Own brands account for over 80 percent of the net sales. Noiro also markets Wella hair cosmetics in Finland.

 

The brightest star in the product range is the Lumene cosmetics line, which accounts for more than one-third of the net sales and almost than two-thirds of the exports. Lumene is the leading brand on the Finnish market for cosmetics with a strong market share of over 25 percent. Other well known brands of Noiro are, for example, Herbina, a line for personal hygiene, Nanoel, representing selective cosmetics, and the Cutrin hair cosmetics line. Institutional cleaning products are manufactured and marketed under the name Farmos.  Exports account for around one-third of Noiro's net sales, Russia being the biggest single export market.

 

Noiro has been part of the Orion Group ever since it was established in 1948. In 2002 it contributed 8% to the net sales and 9% to the operating profit of the Orion Group.

 

Noiro in figures                      2002         1-6/2003

 

Net sales, EUR million            135.3        70.5

Exports, EUR million              48.4          24.6

Operating profit, EUR million  9.8            3.8

Personnel                               850           850

 

 

CapMan Group

CapMan is one of the leading private equity investors in the Nordic countries and specialises in mid-sized buyouts in various industry sectors, technology investments in the IT and telecommunications sectors and investments in life science companies. CapMan team comprises around 80 people in Helsinki, Stockholm and Copenhagen. CapMan manages funds with approximately EUR 1.703 billion in total capital, of which approximately EUR 527 million is managed by the affiliated company Access Capital Partners, which invests in European private equity funds. To date, the funds managed by CapMan have invested in 133 companies in the Nordic countries and exited from 55 companies. The latest investments before Noiro include Finnish Nordkalk Oyj Abp, Swedish Metallfabriken Ljunghäll AB and Danish Eco-Dan A/S. CapMan Plc is listed on the Main List of the Helsinki Stock Exchange.

 

Board of Directors and Managing Director of Noiro Ltd

 

Jussi Länsiö

Chairman of the Board

 

Jussi Länsiö has a long background in running consumer goods companies. From 1978 to 1992 he worked for Huhtamäki of which most of the time (9 years) as Managing Director for Jalostaja. In 1992 he transferred to Deutsche Unilever to became Marketing Director for Langnese-Iglo. Since 1994-2003 he served as CEO for Hartwall. In that role he was instrumental in building Hartwall's international operations. He has been active board member of several Finnish listed companies.

 

Orvo Siimestö

Member of the Board, Senior Advisor at CapMan

 

Orvo Siimestö was invited to join CapMan as Senior Advisor in April 2001. He is also a long-term Board Member of CapMan Capital Management Oy (1993-2001). He has previously served as Managing Director for Leonia Corporate Bank Plc and Executive Vice President for Leonia Bank. Before his three-year period at Leonia he has worked 28 years in industry as controller for Kone and as CFO for Schauman and Ahlström Groups.

 

Lars Hagelstam

Member of the Board, Investment Director at CapMan

 

Lars Hagelstam joined CapMan's Buyout Business Unit in 1999 from the banking group Paribas in London where he worked on M&A and corporate finance transactions in the Nordic countries and the rest of Europe.

 

Pekka Rautala

Managing Director of Noiro Ltd

 

Pekka Rautala has made his entire career in Noiro, having advanced through several posts of finance and control during 1973-1993. Since 1993 he has been President of Noiro. He is vice chairman of the board of the Finnish Cosmetic and Detergent Association.

 

Publisher:

Orion Corporation

Corporate Administration

Orionintie 1A, FIN-02200 Espoo

Homepage: www.orion.fi

 

Heikki Vuonamo, Corporate VP, Communications

Phone +358 10 429 4967

 

Distribution:
Helsinki Stock Exchange
Media