CapMan sells Espira

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| Source: CapMan
CapMan Plc Stock Exchange Release - 1 April 2014 at 8.00 a.m. EEST

CapMan sells Espira

Funds managed by CapMan and other owners of Espira Gruppen AS have signed an
agreement to sell Espira to Swedish education company AcadeMedia. Funds managed
by CapMan own approx. 92% of Espira's shares. The transaction has a positive
impact on CapMan Group's result for 2014 through fair value changes from
CapMan's own fund investments. The transaction contributes some EUR 5 million in
cash flow to CapMan Group. The transaction is expected to be finalised during
the second quarter 2014. The exit will not change CapMan's result guidance for
2014 given on 6 February 2014.


CapMan's funds initially invested in Espira in 2008. Since then the company has
grown significantly, and is today one of the largest providers of pre-school
services in Norway with around 7,500 children in 75 pre-schools. The core of the
Espira strategy is to build high quality pre-schools based on a comprehensive
pedagogical framework and an excellent service level. The company employs some
2,000 people and its turnover in 2013 was approximately EUR 140 million.


"During CapMan's ownership, Espira has grown its operation from 36 to 75 pre-
schools, and also built a substantial pipeline of new pre-schools to be
established over the next few years. Moreover, we have invested significantly in
quality measures, which has resulted in improved parental and employee
satisfaction, providing a significant competitive advantage. We are confident
that the Espira concept will continue its successful growth as part of
AcadeMedia," says Hans Tindlund, Partner at CapMan Buyout and responsible for
the investment.
The exit will not change CapMan's result guidance for 2014 given on 6 February
2014. CapMan estimates its earnings per share to improve significantly from the
level achieved in 2013 primarily due to increasing operating profit.

The majority of the investment in Espira was made from CapMan Buyout VIII fund,
which owns approximately 85% of Espira's shares.


For further information, please contact:
Hans Tindlund, Partner, CapMan Buyout, tel. +47 23 23 75 72
Niko Haavisto, CFO, CapMan Plc, tel. +358 (0)207 207 583 (CapMan financials)


CAPMAN PLC



Hanna Hinkkanen
Communications Officer



DISTRIBUTION
NASDAQ OMX Helsinki
Principal media
www.capman.com



CapMan www.capman.com
CapMan Buyout is the largest mid-market private equity team in the Nordic
region, with 20 investment professionals in Finland, Norway and Sweden and 24
years of experience. The team has made a total of 77 investments and 56 exits
and its tenth fund CapMan Buyout X is currently in active investment phase.

CapMan Buyout is part of CapMan Group, a leading private equity firm in the
Nordic countries and Russia, with assets under management of EUR 3.1 billion.
CapMan has five key investment partnerships - CapMan Buyout, CapMan Russia,
CapMan Credit, CapMan Public Market and CapMan Real Estate - each of which has
its own dedicated investment team and funds. Altogether, CapMan employs around
100 professionals in Helsinki, Stockholm, Oslo, Moscow and Luxembourg.

Espira Gruppen www.espira.no
Espira is one of the largest providers of pre-school services in Norway with
around 7,500 children in 75 pre-schools. Espira employs some 2,000 people.


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