Picosun Accelerates Growth With a Notable Finnish Investment
ESPOO, Finland, June 28, 2019 /PRNewswire/ -- Finnish investors make significant investments in Picosun, a manufacturer of ALD equipment, increasing the company's share capital by 12 million euros. New investors are CapMan Growth fund, Finnish Industry Investment Oy, and Risto Siilasmaa's First Fellow Partners.
Earlier investors in Picosun - Hannu Turunen, and R.Ruth Oy - also make add-on investments in the company, in addition to the company's Board members Prof. Jorma Routti and Dr. Tech. Tuomo Suntola.
"We are already the world's number one manufacturers of research and other specialised equipment within the ALD field, but we aim to achieve a leading position also in other large ALD production equipment. We are determinedly moving in this direction," says Kustaa Poutiainen, Chairman of the Board at Picosun.
The family office of Kustaa Poutiainen, Stephen Industries Oy, remains the majority investor after the funding round.
ALD, or Atomic Layer Deposition, is a Finnish technology developed by Dr. Tech. Tuomo Suntola, who has been awarded the Millennium Technology Prize. The technology enables the creation of precise films with a thickness of less than a nanometer, which is a prerequisite for the functionality of modern electronics. New applications for ALD are constantly found in e.g. medical technology.
"ALD technology is one of the most significant Finnish inventions and we are proud to participate in the acceleration of Picosun's growth and internationalisation. ALD technology is present in many everyday devices and processes and according to our estimates, the market is growing by almost 30 percent per year in the next five years. Picosun has already proven to be a leading performer in certain industrial verticals and has achieved global recognition. We want to be a part of taking the development to the next level," says Juha Mikkola, Managing Partner of CapMan Growth.
"We entertained several finance options in order to deliver on our growth strategy, but the current outcome was preferred by far. ALD is one of the most influential success stories in Finnish technology. We are really pleased to be able to strengthen our position globally together with experienced Finnish owners," concludes Poutiainen.
Picosun's turnover exceeded 26 million euros last financial year and the company employs more than 100 persons globally. More than 95 percent of the production goes to export.
For more information, please contact:
Kustaa Poutiainen
Chairman of the Board, Picosun Oy, tel. +358 400 424 506, kustaa.poutiainen@picosun.com
Juha Mikkola
Managing Partner, CapMan Growth, tel. +358 50 590 0522, juha.mikkola@capman.com
CapMan is a leading Nordic private asset expert with an active approach to value creation. We offer a wide selection of investment products and services. As one of the Nordic private equity pioneers, we have developed hundreds of companies and real estate assets and created substantial value in these businesses and assets over the past 30 years. With over €3 billion in assets under management, our objective is to provide attractive returns and innovative solutions to investors. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover Private Equity, Real Estate and Infra. We also have a growing service business that includes procurement services, fundraising advisory, and analysis, reporting and wealth management services. Altogether, CapMan employs 140 people in Helsinki, Stockholm, Copenhagen, London, Moscow and Luxembourg. More information at www.capman.com.
Picosun provides the most advanced ALD thin film coating technology to enable the industrial leap into the future, with turn-key production solutions and unmatched expertise in the field. Today, PICOSUN™ ALD equipment are in daily manufacturing use in numerous major industries around the world. Picosun is based in Finland, with subsidiaries in Germany, North America, Singapore, Taiwan, China and Japan, offices in India and France, and a world-wide sales and support network. More information at www.picosun.com.
CONTACT:
Minna Toivola
D.Sc., Marketing Manager, Picosun Oy
Email: minna.toivola@picosun.com
Tel: +358 40 758 8748
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