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Finland: Bravedo, an organisation with more than 30 technology and service companies in its portfolio, has acquired shares in Forenom from CapMan and Finnish Industry Investment.
CapMan and Finnish Industry Investment became joint owners of Forenom in 2016. Since then, Forenom expanded its operations outside Finland to include more than 9,000 furnished apartments and extended stay accommodation across the Nordics and Germany.
Bravedo, one of Forenom’s original founders, has now become the company’s largest owner. Bravedo has acquired Forenom’s shares from CapMan and Finnish Industry Investment.
Heikki Raulo, head of investments and acquisitions at Bravedo, said: “During the previous years, Forenom has developed into a true leader in the North European serviced apartment market. Bravedo, together with our co-investors, is excited to invest in Forenom and further support its growth in the future.
“Providing Bravedo’s customers with innovative workforce solutions in the Nordic countries, including accommodation related services, is core to Bravedo’s strategy, and Forenom complements our capabilities perfectly,” he added.
Jussi Saarinen, CEO of Forenom Group, said: “Forenom has a strong position in business accommodation solutions, and we see significant potential in scaling our services further. Bravedo’s ownership gives us excellent conditions to develop our operations, improve customer value and strengthen our role in enabling workforce mobility for companies.”
Forenom’s business and daily operations will continue as normal in all operating countries.
Highlights:
- Bravedo has acquired majority shares in serviced apartment operator Forenom from CapMan and Finnish Industry Investment.
- The deal returns ownership to Bravedo, one of Forenom’s original founders.
- Forenom has expanded since 2016 to operate more than 9,000 furnished apartments and extended-stay units across the Nordics and Germany.
- Bravedo plans to support further growth and integrate Forenom into its workforce accommodation and mobility strategy.
- Forenom’s business and daily operations will continue unchanged across all markets.
