DevCo closes its next long-term single-asset fund at €260m
• DevCo has raised €260m of long-term commitments from leading Finnish and Northern European private and institutional investors, including existing DevCo investors and selected new institutions and private investors
• The capital will be deployed in DevCo’s next platform investment and potential related follow-on investments
• DevCo’s unique business model is characterized by a strict focus on a limited number of companies, hands-on involvement in company development and long investment horizon
• DevCo is currently a significant owner of three global niche leaders, Vexve Armatury Group, Medix Biochemica and Bluefors
DevCo Partners (“DevCo”) has raised €260m of long-term commitments for its next long-term single-asset fund. Investor base consists of leading Finnish and Northern European investors, including for example Antti Herlin, Georg Ehrnrooth, Ilkka Paananen, Keva, VER, Varma, Ilmarinen, Rettig Group, OP Financial Group and Argentum. The process of raising the commitments took less than three months amid strong investor interest, and it followed the deployment of DevCo’s previous investment facility of €180m in a platform investment in Bluefors in the first half of 2021.
DevCo is a Finnish long-term oriented active owner and development partner for high-quality medium-sized companies with revenues (at entry) typically between €50m and €500m. DevCo is dedicated to building and developing world leading companies in selected niche markets. It provides companies with dedicated hands-on resources, strategic support, tailored ownership solutions and significant capital for growth. DevCo’s core team is formed by 12 experienced professionals supported by a strong network of senior advisors, industry experts and anchor investors.
DevCo is currently a significant owner of three global niche leaders - Vexve Armatury Group, Medix Biochemica, and Bluefors – which have all developed very positively on all fronts during DevCo’s ownership. For example, the aggregated sales of Vexve Armatury Group and Medix Biochemica, the two companies that have been owned by DevCo since 2016 and 2018, have nearly tripled during DevCo’s ownership, driven by solid organic performance and six international add-on acquisitions.
”We are pleased that the interest of leading Finnish and international investors in DevCo was again so strong. The key characteristics of our business model have remained unchanged since the founding of DevCo and our trust in them has only strengthened. The unique DevCo model together with the strengthening of our core team during the past year and the commitments now secured create a solid foundation for our next platform investment and enable us to support the growth and development of the platform company in the long run. We are grateful for the trust from all our investors and looking forward to working together with them going forward”,
says Juhani Laakso, Partner at DevCo.
Juhani Laakso, Partner
Mobile: +358 40 646 2255
DevCo is a long-term oriented active owner and development partner dedicated to building world-leading companies in selected niche markets. DevCo provides its companies with hands-on operational resources and strategic support as well as significant financial resources and tailored ownership solutions to support step changes in their performance. DevCo was founded in 2014 and is currently a significant owner of three global niche leaders, Vexve Armatury Group, Medix Biochemica, and Bluefors. DevCo is based in Helsinki, Finland.