CVC Capital Partners has led a consortium of Finnish institutions to buy Mehiläinen, a private healthcare and social care provider in Finland from funds advised by Triton and KKR.

Triton and KKR bought Mehiläinen in March 2010 as joint investors on a 50-50 basis. Mutual pension insurance companies Varma and Ilmarinen joined as minority shareholders in 2015.

LocalTapiola, a mutual life insurance company also took a minority stake in 2016.

CVC Capital Partners’ Fund VII has joined forces with the insurers LocalTapiola, Varma and Ilmarinen as well as Mehiläinen management to acquire the asset for an undisclosed sum.

Varma and Ilmarinen both plan to continue to be shareholders in Mehiläinen and to support its next growth phase.

Founded in 1909, Mehiläinen provides a full range of healthcare and social care services through a network of over 360 units and employing more than 14,000 professionals.

Janne-Olli Järvenpää, the CEO of Mehiläinen, said: “I am very excited to continue the strong partnership with LocalTapiola, Varma and Ilmarinen, and welcoming CVC as a new partner.”

Erkki Moisander, the CEO of LocalTapiola, said: “By increasing our strategic position in Mehiläinen, we are reforming the Finnish healthcare together with our partners and also increasing the domestic ownership.”

Tomas Ekman, Partner in CVC’s Stockholm office, said: “We are very excited about the opportunity to partner with the management team of Mehiläinen along with reputable Finnish institutions, LocalTapiola, Varma and Ilmarinen.”