Sentica acquires the majority of Citec

In a transaction lead by private equity company Sentica Partners, Citec Engineering Oy and Citec Information Oy will form a new group: the Citec Group. With a 67 per cent share, a fund managed by Sentica Partners will become the majority owner of the parent company of the group. The previous main owner of the two companies, Mr Rune Westergård, will own 20 per cent of the new group, and key persons within Citec will own the remaining 13 per cent. The established new group structure will allow for faster growth, streamlining of joint operations and some synergy benefits.

Attachments: Citec press release 1.6.2011