Verso Capital invests in VETROSPACE, a pioneer in designing virusfree workspaces for offices and healthcare facilities23 November 2021
Vetrospace addresses the growing need for safe working and meeting spaces as part of the global efforts to return to the office. The company’s spaces are equipped with patented technology that reduces harmful viruses, microbes and particles by 99,9% on a continual basis from the air and from surfaces.
Verso Capital acquires majority position in Vetrospace to accelerate the company’s international expansion efforts and diversify the company’s product offering into new product segments.
Vetrospace provides public and private sector organisations with modular spaces built primarily with safety, productivity, and functionality in mind. The company’s ISO-7 clean room certified meeting rooms create a unique controlled microenvironment that minimises the transmission of and actively eliminates harmful viruses, microbes and particles from the air and from surfaces, while industry leading air quality and sound isolation improve productivity in all-day use.
Verso Capital, a Finnish private equity firm specialising in building leading international B2B companies, today announced that it has acquired a majority stake in Vetrospace and made a significant growth investment into the company. Verso Capital is an active owner that creates long term sustainable growth by working with the existing management to solve growth and profitability challenges. The investment from Verso Fund III will help accelerate the company’s international expansion efforts and expansion into additional customer segments, building on strong traction among globally leading corporations looking to provide safe and more productive working and meeting conditions to their employees and clients.
Vetrospace was established by Jouko Urpolahti to create a technically superior modular space solution capable of providing all-day usability to its users by incorporating superior sound isolation and fresh air to its modular spaces. The company’s controlled microenvironment product line, which combines ISO-7 clean room air quality, Visible Light Disinfection and photocatalytic surface coating, has been tested by VTT Technical Research Centre of Finland for its efficiency in reducing bacteria, viruses and pollutants. Today Vetrospace has customers in Europe and the US, covering for example one of the leading investment banks in the US, several major listed companies in various industries, and several hospitals in Europe.
“The need for safe and more productive workspaces existed already before the pandemic, but the pandemic has highlighted the importance of ensuring the health and safety of employees and customers in various meetings and work situations. Vetrospace is uniquely positioned to serve this need with workspaces that reduce harmful viruses, microbes and particles by 99%, while providing better productivity through industry leading soundproofing and air quality – including room-specific air conditioning. We look forward to working with the Vetrospace team to further accelerate the company’s international growth”, says Anssi Kariola, Managing Partner, Verso Capital.
“We are excited to take the next growth steps together with the Verso team. Vetrospace has a unique product offering but has been lacking resources to accelerate our international growth. The additional financing enables us to accelerate our sales activities with several recruitments in Finland and internationally, while the Verso team can help us to improve our overall business performance with their expertise and knowledge”, says Jouko Urpolahti, CEO, Vetrospace Oy.
Vestra Advisors acted as the legal advisor and Hill Advisors as the financial advisor to Verso Capital. DLAPiper acted as the legal advisor and Carner acted as the financial advisor to Vetrospace.
About Verso Capital
Verso Capital is a growth stage buyout investor that specialises in carve-outs and complex business situations. We acquire and invest in European B2B companies and businesses that have good growth potential and revenues up to €50m, but currently are suffering from growth bottlenecks. Our team has experience from over 100 carve-out and M&A transactions – we have the necessary know-how and methodology to execute even complicated transactions quickly and efficiently. We are typically a majority investor and spend a considerable amount of our time working together with the management in order to solve growth and profitability bottlenecks. We manage three funds with over €160M of capital, and have offices in Helsinki, Stockholm, and Munich.