The CapMan Special Situations I fund has invested in two providers of assisted residential care for the elderly, Nonna Group Oy and Aurahovi Oy, with the aim of building a leading nationwide operator in Finland in the sector.
Nonna Group, founded in 2020, operates five units located in Rovaniemi, Oulu, Turku and Kuopio in Finland, with estimated revenue of approximately €5m in 2024.
Aurahovi, established in 2017, runs four units in Lieto, Huittinen, Uusikaupunki and Helsinki, with 2024 revenue of around €4m.
By combining the two companies, CapMan Special Situations said it is forming one of Finland’s “leading operators in the residential care sector”, with a nationwide network of nine housing units and around 500 apartments.
Karri Keistinen, investment manager at CapMan Special Situations, said: “Assisted residential care addresses the growing need to provide seniors with meaningful daily life and tailored support.
“By bringing together two strong companies, we are laying the foundation for a nationwide operator with excellent potential for growth and societal impact.”
Jere Pessala, the new CEO of Nonna Group and Aurahovi added that “assisted residential care is a new service model that has gained strong support in regional welfare strategies”
Pessala added: “It is designed for seniors whose needs are not fully met by home care but who do not yet require round-the-clock support. Both companies have great potential, an excellent workforce and satisfied customers, providing a solid foundation for future success.”
Investments in Aurahovi Oy and Nonna Group Oy constitute the seventh investment for the CapMan Special Situations I fund.
To read the latest IPE Real Assets magazine click here.
