The Finnish private equity firm Intera Partners invests in Kamux, Finland’s largest car retailer focused exclusively on used cars and related services. The Company’s management will maintain a significant minority ownership and continue to develop the Company together with Intera Partners.
The market for used cars in Finland is substantial –more than 500,000 used cars are sold annually. The market is however very fragmented and Kamux, with its 16 stores, is the largest player that focuses exclusively on used cars, with a market share of less than 2%. In the past five years Kamux has achieved profitable growth with an average growth rate of ca. 40% annually and the Company will have revenues of over EUR 70 million in 2011.
According to the founder and CEO Juha Kalliokoski, the key factors behind the strong growth are reliability, high-quality customer service and competitive pricing. Within the industry, Kamux is known for innovative business concepts. It provides its customers with value-added services, such as car financing, insurance and warranty and in 2011, the Company delivered already 20% of the cars it sold directly to customers’ homes.
Intera believes in the continued growth of Kamux and its customer-oriented and competitive business model even in challenging economic conditions.
“Kamux is led by an excellent management group and the Company has been able to maintain growth also in a challenging business environment of 2008-2009. Intera will provide Kamux with additional resources and knowledge to further expand the business in Finland as well as abroad”, says Jokke Paananen, Partner at Intera.
According to Juha Kalliokoski, downturns enhance demand for used cars and provide Kamux with an opportunity for attractive car purchases. “In addition to expanding our current business, we will launch new products and services to meet the needs of used car buyers”, states Kalliokoski.
For additional information:
Juha Kalliokoski, CEO of Kamux Oy, tel. +358 50 544 5538, email: firstname.lastname@example.org
Jokke Paananen, Partner at Intera Partners, tel. +358 50 300 3737, email: email@example.com
Kamux Oy (www.kamux.fi) is Finland’s largest car retailer focused exclusively on used cars and related services. Kamux has 16 stores across Finland and 52 employees. Since 2007 Kamux has grown with an average revenue growth rate of 40% annually and the Company will achieve revenues of over EUR 70 million in 2011.