CapMan, one of the largest private equity firms in the Nordic region, has bought Nordkalk, a €270m ($269.9m) manufacturer of limestone-based products, in its first investment since reorgainsing its operations two months ago.

CapMan was a member of an investor group that bought Nordkalk from Kone, a global engineering company. The other members of the group include Ahlström Capital, a Finnish buy-out specialist, and a number of institutional investors including Stifelsen för Åbo Akademi, Veritas Group, Alandia Group and Svenska litteratursällskapet i Finland. The group used Advium for investment banking advice.