CAPMAN PROCUREMENT SERVICES (CAPS) acquired by PROXER BIDCO
Context
CapMan has completed the divestment of its majority stake (92.7%) in CaPS to Proxer Bidco Oy. This transaction represents a strategic carve-out, allowing the seller to refocus its resources and capital on its core private asset fund management business. Originally an internal service unit, the target had evolved into a largely standalone business with limited operational links to the rest of the group, making the divestment a natural progression for its next growth phase. The sale significantly enhances the seller’s financial position, providing strong liquidity and a positive impact on 2024 earnings. Following the closing, the target will operate under a new ownership structure designed to facilitate further expansion across the Nordics and beyond, while continuing to serve its extensive network of members and vendors.
CAPMAN PROCUREMENT SERVICES (CAPS), which reported an EBITDA margin of LOGIN in 2023, is valued in this transaction at an EV/EBITDA multiple of LOGIN, representing a LOGIN to the average currently observed in the Business Services sector (10.9x).
Note that this data is based on contribution from our growing community, composed of M&A and Private Equity professionals, and has been verified by our team to ensure its accuracy.
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Target
CaPS is a unique, fast-growing procurement service platform originally established as an internal service for portfolio companies but transitioned into a standalone market leader. Its business model centers on aggregating the purchasing power of a vast network to deliver cost savings and value-added services. The platform connects over 280 member companies with more than 290 vendors across Finland, Sweden, and the Baltics. By leveraging centralized procurement expertise and a robust network effect, CaPS manages indirect spend categories, enabling members to achieve significant scale advantages typically reserved for much larger corporations. The platform’s value proposition is built on transparency, efficiency, and a proven ability to institutionalize procurement processes across a highly diverse international member base.
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Historical Financials (EUR)
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REFERENCES
Valuation range: EV 50M - 150M EUR
Revenue range: 5M - 25M EUR
EBITDA range: 5M - 25M EUR
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Authors: verified mynth contributor (mynth data is contributed by M&A / PE professionals and systematically cross-verified with private deal documents and official press releases).