MIDINVEST EXITS INKA – MANAGEMENT BUY OUT
Funds managed by Midinvest, Kari Haipus and Markku Penttilä have sold all their shares in the company to the Inka management team and Plan Partners Group Oy. Midinvest-funds have been the major shareholder of Inka Oy since 2005.
The transaction creates a strong entrepreneurial basis for Inka to make new growth and continue with solid and good financial background after its successful restructuring program.
Jari Vesterinen will start as the new managing director replacing Markku Penttilä. Jari has been the production manager of Inka for several years. Markku will stay in the board of directors.
The managing director of Midinvest Management Oy, Jukka-Pekka Nikula points out: “We have made right actions in Inka during the past tight years and succeeded quite well. Midinvest sees this exit as a good continuation for this demanding job. The company will now have a bright future ahead of it.“
”Inka Oy is a Finnish company with over 100 years’ background. It was a pleasure to work with its team and make the own contribution for the manufacturing industry in Finland”, sums up Markku Penttilä.
” As stated in the company’s strategy, Inka has during the past years managed to improve the profitability and has put efforts on improving the quality and customer service. These will remain as key elements of our business also in the future”, Jari Vesterinen emphasizes on behalf of the whole MBO-team.
For further information:
Jukka-Pekka Nikula, phone +358 50 539 9378, or email firstname.lastname@example.org, Midinvest Management Oy
Jari Vesterinen, phone +358 50 301 1469, or email email@example.com, Inka Oy
Inka Oy is the leading manufacturer and supplier of textile webbing in the region surrounding the Baltic sea. With over 100 years of experience Inka produces quality products under its own brand INKA (www.inka.fi)
Midinvest Management Oy is a private equity investor specialised in growth funding and ownership arrangements of small and medium-sized enterprises. Midinvest Management manages an investment capital totalling 70 million euros, and its investors are Finnish institutional investors. Midinvest currently has approximately 15 portfolio companies. (www.midinvest.fi)