Juuri Partners along with other owners have agreed to sell their ownership in N-Clean to Swedish MIAB. N-Clean’s family owners will stay on as minority shareholders with a 40 % holding in the company. The transaction marks the first exit of Juuri Partners that was established in 2015. The fund held a 33 % stake in N-Clean.
Juuri Partners sells its ownership in N-Clean to Swedish MIAB. Sellers in the transaction are Juuri Fund I, Deputy CEO of N-Clean Suvi Kuusisto, Board Member Aarne Hallama and Nurmi family, who will continue as minority shareholders in the company. The operations in Finland will continue unchanged and will not cause any changes to the personnel or customers.
MIAB is the largest private facility service and cleaning company in Sweden. Established in 1979, the family company offers facility service nationwide in Sweden and is specialised in offering solutions for different specific industry requirements. The company’s net sales are circa SEK 550 million with some 1 500 employees.
N-Clean has grown exceptionally fast for a company in a conservative industry. During the ownership period of Juuri Partners the company’s net sales have grown from 24 million euro to over 40 million euro. Simultaneously, Juuri Partners has offered strong strategic support for N-Clean. The well-executed growth strategy has included among other things expansion to the Swedish hotel cleaning market as well as establishing N-Clean as a significant player on the Finnish premises cleaning market.
”Juuri Partners has enabled our fast growth, and the co-operation has been easy and fruitful”, says CEO of N-Clean Rauno Nurmi. “Fully outsourced hotel cleaning concept – previously unknown in the Swedish market – is an export product that we can be proud of.”
”I am glad that we found a good partner to continue N-Clean’s growth in the Swedish market”, says Partner of Juuri Partners Anita Ojala.” I would like to thank the outstanding entrepreneurs Rauno, Helena and Suvi as well as all the 2 000 employees of N-Clean for the tremendous growth leap and the positive culture at N-Clean.”
The transaction marks the first exit of Juuri Partners. The strong alignment with N-Clean’s entrepreneurs and management enabled an exit in a holding period of only two and a half years. Juuri Fund I, a private equity investment fund that finances established and profitable small and medium-sized enterprises, offers growth-focused companies a business development and financing concept that combines active minority ownership, business operation support and debt financing.
For more information:
Anita Ojala, Partner, Juuri Partners Oy, tel. +35840 826 2085, anita.ojala@juuripartners.fi
Rauno Nurmi, CEO, N-Clean Oy, tel. +35840 730 1563, rauno.nurmi@nclean.fi
Paavo Nerg, Owner, MIAB Ab, tel. +46 70 521 78 50, paavo.nerg@miabab.se