CapMan Buyout X Fund has sold Forenom Group Oy, a leader in serviced apartments in the Nordics, to Bravedo, enabling the latter to strengthen its accommodations-related services and expand its market capabilities.

Information on the Target

Forenom Group Oy has established itself as a premier provider of serviced apartments throughout the Nordic region. Originally founded in Finland, Forenom has expanded significantly since its inception and now stands as a leading pan-Nordic player in the market. With an impressive portfolio comprised of over 9,000 serviced apartments, aparthotels, and hostel rooms situated in major Nordic cities as well as Germany, Forenom has demonstrated a robust operational capacity, supported by more than 500 employees and over 30 local offices.

Beginning with an investment from CapMan Buyout in 2016, Forenom underwent a transformative growth period, tripling its sales and solidifying its position in the serviced apartment sector. This impressive development is attributed to the company’s strategic focus on business clientele, as well as the innovative services it offers, catering to the evolving needs of customers in today’s dynamic marketplace.

Industry Overview in the Target’s Specific Country

The serviced apartment industry in the Nordic region has witnessed substantial growth in recent years, driven by an increase in business travel and a growing demand for flexible lodging options. As companies continue to internationalize their operations, the need for co