Stability
Information to the owners, financers, and other stakeholders
The following is Detailed information of investment assets, valuation principles, investor reporting and divestments
Assets
Canelco Oy
Location: Finland
Strategy: majority or major minority holdings in Finnish industrial SME’s, turnover 2 – 20 M€
Parent company: 20 M€ balance sheet
Starting year: 1988
Classification of the investors
Upper-Savo Investment Fund Oy
(managed by the service of Canelco Management)
Location: Upper-Savo
Strategy: minority and loan investment to SME’s in Upper-Savo
Size of the fund: 3,6 M€
Starting year: 2002
Holdings
Anaika Wood Group Oy
Envitecpolis Oy
Sisuline Oy (former IS-Vet Oy)
Lapinlahden Konepajat Oy / Lametal Oy
Classification of the investors
Responsible and reliable operator
Canelco is a full member of the Finnish Venture Capital Association and an alternative investment funds manager subject to a registration obligation under the Act on Alternative Investment Funds Managers (162/2014). Canelco was registered in the public register of alternative investment funds managers maintained by the Financial Supervisory Authority in 2014.
Valuation methods and investors’ reporting
We follow the International Private Equity and Venture Capital Valuation Guidelines (“IPEVG”). The valuation method of the guidelines is based on the fair market value of each holding we own and as this holding would be under M&A process on the reporting date.
Our reporting to the investors is based on the investment company agreements and the Guidelines of InvestEurope, the laws and accounting principles. The valuation of the holdings is based on the IPEVG principles and the investor reporting is proceeded in semi-annually.
Divestments – Warm memories, thousands of hours work
From the year 2009, when Canelco Management Oy was found, we have worked with over 40 different SME’s and their top management. These past years have been punctuated by hard work, challenging moments, learnings, and successes.
See below the list of companies that has been divested within these years
| Company | Industry | Time of divestment |
|---|---|---|
| SSG Sahala Oy | Industrial maintenance & services | 12/2023 |
| Marvaco Oy | Solution provider for packaging printers and brands | 12/2022 |
| Oplatek Group Oy | Manufacturer of optomechanic and photonics products | 9/2022 |
| Fine-Pine Oy | Manufacturing of glulam pine and spruce boards | 6/2022 |
| KPA Unicon Group Oy | Clean and renewable energy technology provider | 4/2021 |
| Cross Wrap Oy | wrapping and opening machines transforming industial processes | 2/2021 |
| Alupro Oy | architectonic fasad products for buildings | 1/2021 |
| Via Naturale Oy | B-2-C healthy products | 12/2020 |
| Midpointed Oy | IT-systems | 11/2020 |
| Pixmill Group Oy | printed media | 3/2020 |
| Geomachine Oy | Special geodrilling rigs and accessories | 4/2019 |
| Toolfac Oy | Hydraulic and pneumatic components and valve assembly for machinery and engine manufacturers | 1/2019 |
| Savcor Holding Oy | Information systems for forest industry and process industry diagnostics. | 3/2017 |
| Movia Group Oy | Finland’s largest driving school chain | 12/2016 |
| Planmill Oy | Integrated browser-based enterprise resource planning solutions | 12/2016 |
| Remega Oy | Health technology, EMG measurement devices, solutions for treating incontinence | 11/2016 |
| Timaco Oy | Manufacture of products produced through mechanisation | 1/2016 |
| Jäämestarit Oy | Construction of sports and exercise facilities (building cold and heat pipes) | 9/2015 |
| Doranova Oy | Environmental cleaning and remediation | 9/2015 |
| Arffman Consulting Oy | Education services, particularly for labour market policy training | 6/2015 |
| Tepcomp Oy | Developer and manufacturer of innovative LED products and contract manufacturer of electronics | 4/2015 |
| Pirkanmaan Lehtipaino Oy | Printing newspapers and print advertisement products | 8/2013 |
| Polytronic Oy | Rotation and die cutters for the packaging industry | 6/2013 |
| Finnpos Systems Oy | Cash register systems, primarily to transport stations and restaurants | 4/2013 |
| Acute Oy | Enterprise resource planning systems for health care | 3/2013 |
| Medfiles Oy | Clinical research services and pharmaceutical product development services for the pharmaceutical industry | 3/2013 |
| Oy Tammer-Suoja Ab | Seat covers and other textile design elements for the aviation and automobile industry | 12/2012 |
| HR House Group Oy | Staff leasing and HR software products | 6/2012 |
| Joptek Oy | Composite structures for the transport industry | 11/2011 |
| Call Waves Solutions Finland Oy | Call centre services | 5/2011 |
| Medikro Oy | The design, manufacture and marketing of spirometry equipment | 4/2011 |
| TH-Tools Oy | Manufacturer of demanding made-to-measure tools for industrial companies | 11/2010 |
| Intensium Oy | Health care information systems (peer review services and process management products) | 6/2010 |
| Tamlans Oy | Equipping vehicles for professional use | 6/2010 |
| Blancco Oy | Data erasure software | 5/2010 |
| Lunawood Oy | Industrial manufacture of thermowood | 5/2010 |
| Kronodoc Oy | Document management software | 4/2010 |
| Aliko Oy | Metal cutting and press brake systems for the metal industry and steel wholesale companies | 3/2010 |
| Visy Oy | Machine vision applications and access control solutions for industry and the authorities | 12/2009 |
| Cerebricon Oy | Testing and product development services of drugs targeting the diseases of the central nervous system for the pharmaceutical industry | 8/2009 |