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Finn-Power Purchased by Private Equity Fund

Finn-Power Purchased by Private Equity Fund

Thursday, March 14, 2002
 
Lillbacka Corp. and the Finn-Power sheetmetal-working technology business, a supplier of flexible and automated sheetmetal-fabricating machines and manufacturing systems, has been acquired by EQT Northern Europe Ltd., a private equity fund manager. EQT intends to take Finn-Power public in four to five years. Finn-Power, owned previously by founder and CEO Mr. Jorma Lillbacka, operates manufacturing and R&D facilities in Finland, Belgium and Italy and in the United States (in Schaumburg, IL). Lillbacka remains a board member of Lillbacka Corp., and remains owner of his swaging technology and logistics businesses and companies. The acquisition is not expected to affect Finn-Power's service to customers in North and South America. Read more at www.eqt.fi/pressroom.

 

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