Finnish investors buy Elematic Group, the leading technology provider to precast concrete producers

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Private equity fund managed by Sentica Partners Oy, alongside Finnish Industry Investment Ltd, Etera Mutual Pension Insurance Company and the management of Elematic Group, have acquired Elematic Oy Ab. Elematic is the leading technology provider to precast concrete producers worldwide. Consolis SAS will retain a minority stake in the business. Details of the transaction are not to be disclosed.

Elematic is a key player in the market for precast concrete machinery and equipment, production lines and complete production plants. Customers across five continents, in more than 80 countries, benefit from the superior technology and industry expertise of Elematic. In 2005, Elematic generated revenues of eur 53 million, up almost 50 per cent on previous year. The company employs more than 150 people. The acquisition does not have an effect on the number of current personnel.

Philippe Milliet, CEO and President of Consolis SAS, says: "We believe that Sentica, as a new owner, will give Elematic the best opportunities for long-term development. Consolis Group, through its various companies, will remain as an important customer and technical cooperation partner for Elematic. Meanwhile, we are glad to remain as a minority shareholder of Elematic. This position is a proof of our commitment to the success of this new venture as well as of our strong historical links with Elematic."

According to Mika Uotila, a partner responsible for growth funds with Sentica, Elematic has a leading market position in a clear, growing niche area: "The demand for cost and time efficient precasting and hollow core slabs is increasing especially in Eastern Europe as well as in Middle and Far East. Also the U.S. with a tradition of on-site casting is very potential market for Elematic's technology. We are very pleased with this investment and our intention is to actively support the group's growth strategy by putting our expertise and resources behind the company."

Leo Sandqvist, CEO of Elematic Group, is also convinced that the arrangement is a stimulating shot to the development of the company. "The new ownership structure means not only new opportunities and resources but also innovative ideas and a fresh approach to the development of our business and the entire industry. The management's commitment to the company and confidence in its future is strong – we are very proud and happy that we have the opportunity to invest in Elematic also as shareholders", Sandqvist concludes.

Acquisition financing was provided by OKO Bank plc.

Sentica Partners
Sentica Partners Ltd is a Finnish private equity company with EUR 130 million funds under their management. In addition to financing, Sentica offers investee companies access to strong business expertise, business development tools and an extensive partner network.

Consolis SAS
Consolis is Europe's leading manufacturer of prefabricated concrete products, providing comprehensive solutions for building and infrastructure projects. It operates over 100 plants in 20 countries with over 8000 persons and net sales of over 1 billion euros.

Finnish Industry Investment Ltd
Finnish Industry Investment Ltd is a government-owned investment company. Founded in 1995, the company invests in the growth and internationalization of Finnish companies. The investment capital is generated from the proceeds accrued from the privatization of state-owned companies. The investments and investment commitments of Finnish Industry Investment amount to some EUR 350 million.

Etera Mutual Pension Insurance Company
As of the beginning of 2007, Etera Mutual Pension Insurance Company will provide insurance for self-employed persons and employees in all occupations in Finland. Until the end of 2006, Etera will continue as the only employment pension insurance company to provide pension insurance for employees in the LEL (Temporary Employees' Pension Act) occupations, i.e. employees in construction, forestry, agriculture and harbor work, as well as the TaEL (Pensions Act for Performing Artists and Certain Groups of Employees) occupations, such as artists, journalists and those in short-term employment relationships. Etera provides employment pension insurance for 300,000 people. Etera pays some EUR 800 million in pensions to 160,000 pensioners. Etera's investments total approximately EUR 5.5 billion.

Further information:

Mika Uotila, Partner
Sentica Partners Ltd
tel. +358 40 5536110

Leo Sandqvist, CEO
Elematic Oy Ab
tel. +358 400 481218

Kimmo Viertola, Director
Finnish Industry Investment Ltd
tel. +358 50 309 2734