CapMan Oyj: CapMan exits Nice Entertainment Group

              CapMan Oyj: CapMan exits Nice Entertainment Group

CapMan Press Release 23 September 2013 at 9.30 a.m. EEST

CapMan exits Nice Entertainment Group

Funds managed by CapMan have signed an agreement on 23 September 2013 to sell
100% of their holdings in Nice Entertainment Group (Nice), a pan-Nordic TV
content production group, to Modern Times Group MTG AB (publ) (MTG), a leading
Swedish entertainment broadcasting company. As a result of the transaction,
Nice will become part of MTG's content production and distribution subsidiary
MTG Studios.

Nice is the leading Nordic independent content production entertainment group
based on storytelling, communication and entertainment. Nice currently has
three integrated business areas: TV content production, event production and
commercial production. Nice provides its services to all of the major TV
broadcasters in the Nordic region. The group companies are specialized in
local formats, producing more than 100 program formats annually and covering
all the major genres from primetime TV shows to web productions.

Successful formats include Partaj in Sweden, The Ultimate Entertainer in
Norway and the series Hidden Tracks in Finland. As a one-of-a-kind Nordic
concept, Nice has been able to cross-sell its productions within the group, as
well as monetise on its rights through international distribution. Examples of
successful intercompany productions include the formats Babes on the bus,
Dinner Disasters and Celebrity Babysitter. The Norwegian breakthrough Babes on
the Bus has been aired in six countries and option rights have been sold
world-wide.

The group was founded in 2008, when funds managed by CapMan acquired a Finnish
content production company Moskito Television from Talentum Plc. A few months
later, Nice was merged with Monster Entertainment, the leading Norwegian
content producer. Acquisitions in Sweden followed, Baluba (2009) and Titan
(2011), as well as the opening of a green field operation in Denmark, Gong
(2009). Another green field operation, NiceDrama, was acquired in 2011, soon
to release their first feature film The Centenarian. In line with the strategy
of creating a more integrated offering within storytelling and communications,
Nice acquired Norwegian Playroom, an event management business, in 2012. The
group's turnover has grown from €20 million to approx. €121 million during the
funds' ownership.

"In the past five years, Nice has grown from a local Finnish player into a
leading Nordic content producer. We have achieved significant milestones by
attracting top talent into the group and creating fantastic productions with
international potential. All of this would not have been possible without
extraordinarily driven and creative persons in all Nordic countries. CEO
Morten Aass' excellent leadership skills and cooperation with the respective
country managers has created a positive organisational culture, which is a
precondition for successful growth," state Olli Liitola and Ari Tolppanen,
Senior Partners at CapMan Buyout.

"Cooperation with CapMan has been very constructive from day one. We have
experienced a supportive owner willing to think out of the box and who has
made it possible to create a next generation entertainment provider. We
believe that Nice has great qualifications in the new landscape, where more
clients are asking for our core competence - to tell and create great stories.
Nice is now well-positioned for further growth and we are excited about
additional opportunities arising from becoming part of a bigger group," says
Morten Aass, CEO of Nice Entertainment Group.

"Nice is a fantastic company and a perfect strategic fit with MTG Studios,
with well-diversified TV-production and relationships with all of the major
Scandinavian broadcasters, as well as a unique approach to integrating TV and
event production. It will be business as usual for Nice, and they will
continue serving their broad client base with top content across the Nordic
region," comments Patrick Svensk, MTG Executive Vice President of Content and
Chairman of MTG Studios.

The closing of the transaction is subject to regulatory approval by the
Swedish and Norwegian competition authorities and is expected by the end of
October.

CapMan funds hold a majority share in Nice, while Nice's management and key
employees are substantial minority shareholders.

For further information, please contact:
Olli Liitola, Senior Partner, CapMan Buyout, tel. +358 207207 506 or +358 400
605040
Ari Tolppanen, Senior Partner, CapMan Buyout, tel. +358 207 207 507
Morten Aass, CEO, Nice Entertainment Group, tel. +47 970 270 00

CapManwww.capman.com

CapMan Buyout is the largest mid-market private equity team in the Nordic
region, with 20 investment professionals in Finland, Norway and Sweden and 23
years of experience. The team has made a total of 69 investments and 49 exits
and is currently investing from CapMan Buyout X.

CapMan Buyout is part of CapMan Group, a leading private equity firm in the
Nordic countries and Russia, with assets under management of €3.3 billion.
CapMan has five key investment partnerships - CapMan Buyout, CapMan Russia,
CapMan Credit, CapMan Public Market and CapMan Real Estate - each of which has
its own dedicated investment team and funds. Altogether, CapMan employs 105
people in Helsinki, Stockholm, Oslo, Moscow and Luxembourg.

Nice Entertainment Group www.thisisnice.com

Nice is the leading Nordic independent content production entertainment group
based on storytelling, communication and entertainment. Nice has three
integrated business areas: TV content production, event production and
commercial production. The group companies are specialised in local formats,
producing more than 100 program formats annually serving all the major
channels in the territory. 

Modern Times Group MTG AB (publ) www.mtg.se

MTG is an international entertainment group with operations that span four
continents and include free-TV, pay-TV, radio and content production
businesses. MTG's Viasat Broadcasting operates free-TV and pay-TV channels,
which are available on Viasat's own satellite platforms and third party
networks, and also distributes TV content over the internet. MTG is also the
largest shareholder in CTC Media, which is Russia's leading independent
television broadcaster.

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Source: CapMan Oyj via Thomson Reuters ONE
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