Folmer Equity Fund I Ky exits its portfolio’s ICT company Canorama Oy to Finland’s fifth largest teleoperator Lounea Oy.

Canorama concentrates on providing comprehensive ICT services for mainly small and mid-sized companies. Canorama operates in 13 locations across Finland, employs about 120 persons and has a turnover of approximately 22 MEUR.

With a turnover of approximately 33.5 MEUR, Lounea is Finland’s fifth largest teleoperator. Lounea operates in 7 locations and employs some 200 persons. One of Lounea’s strategy’s corner stones is to provide excellent local service with a genuine presence and positive influence on cities and communities’ services and infrastructure. Lounea brings fast and reliable telecommunication services and fiber optic network services to new geographical locations as well as provides comprehensive ICT services to companies and public sector organizations.

“Lounea’s strategy is to grow in ICT services. By acquiring Canorama, Lounea takes a significant step on this growth path. Canorama is well respected ICT and print services provider, so I am truly pleased to have all Canorama’s 120 experts to join Lounea Group”, says Veli-Matti Viitanen, CEO of Lounea.

The transaction expands the companies’ local presence and their offering of ICT products and solutions, as well as print services. The two companies’ IT expertises are highly complimentary. Furthermore, Lounea will offer its teleoperator and capacity services to Canorama’s customers.

Carner advised Folmer Equity Fund I Ky in the sale process.