CapMan Buyout X Fund has agreed to sell Forenom Group Oy, a leading Nordic provider of serviced apartments, to a consortium led by Bravedo, a Finnish people and technology services group.

The transaction marks the final exit of the private equity buyout fund managed by CapMan and established in 2012, the PE asset management company announced today. 

CapMan Buyout invested in Forenom in 2016 and supported its growth and internationalization across the Nordic region. During Capman's ownership, Forenom tripled its sales and expanded from a Finnish company into a pan-Nordic player. The company now operates more than 9,000 serviced apartments, aparthotels, and hostel rooms across major Nordic cities and Germany, with over 30 local offices and more than 500 employees. 

“As we enter our next growth phase, Bravedo’s ownership provides us with even stronger opportunities to enhance our services, scale our operations, and meet the growing needs of our customers,” says Jussi Saarinen, CEO of Forenom.