Verso Capital has acquired a majority stake in Vetrospace, making a significant growth investment in the company to accelerate the company’s international expansion efforts and diversify its product offering into new product segments.
Vetrospace is a Finnish company that provides public and private sector organizations with modular working and meeting spaces built primarily with safety, productivity, and functionality in mind. The company’s patented SafeAir3 technology creates a unique controlled microenvironment that minimizes the transmission of and actively eliminates 99.9% of harmful viruses, microbes and particles from the air and from surfaces, while industry leading air quality and sound isolation improve productivity in all-day use.
Established in 2017, Vetrospace has customers in Europe and the US, covering for example one of the leading investment banks in the US, several major listed companies in various industries, and several hospitals in Europe. Vetrospace’s factory, showroom and head office are located in Littoinen, near Turku.
Verso Capital is a growth stage buyout investor that specializes in carve-outs and complex business situations. With experience from over 100 transactions, Verso Capital acquires and invests in European B2B companies and businesses that have good growth potential and revenues up to €50m. Verso Capital is an active owner that creates long term sustainable growth by working with the existing management to solve growth and profitability challenges. Verso Capital manages three funds with over €160M of capital, and has offices in Helsinki, Stockholm, and Munich.
“The need for safe and more productive workspaces existed already before the pandemic, but the pandemic has highlighted the importance of ensuring the health and safety of employees and customers in various meetings and work situations. Vetrospace is uniquely positioned to serve this need with workspaces that reduce harmful viruses, microbes and particles by 99%, while providing better productivity through industry leading soundproofing and air quality – including room-specific air conditioning. We look forward to working with the Vetrospace team to further accelerate the company’s international growth”, says Anssi Kariola, Managing Partner, Verso Capital.
“We are excited to take the next growth steps together with the Verso team. Vetrospace has a unique product offering but has been lacking resources to accelerate our international growth. The additional financing enables us to accelerate our sales activities with several recruitments in Finland and internationally, while the Verso team can help us to improve our overall business performance with their expertise and knowledge”, says Jouko Urpolahti, CEO, Vetrospace Oy.
Carner Corporate Finance advised Vetrospace throughout the transaction process.