Evolver Fund II has on August 29th, 2024 acquired a controlling interest in Repolar Pharmaceuticals Oy, a Finnish company specializing in resin-based treatment products for humans and animals. The partnership aims to accelerate Repolar’s internationalization and growth.
Evolver Fund II makes its first investment in Repolar Pharmaceuticals
Repolar Pharmaceuticals Oy, a Finnish company established in 2006 by the Sipponen family of doctors, researches, develops, and markets treatment products for humans and animals based on the active ingredients of spruce resin. Repolar’s core products are particularly aimed at wound treatment and skin care for both home and professional use. Repolar’s best-known product, Abilar® wound salve, can be found on the shelves of almost every Finnish pharmacy.
With the backing of Evolver, Repolar will aim to establish a strong position in the Nordic wound care market and expand its presence in European and global export markets.
Founders Arno Sipponen (MD, PhD), Lauri Sipponen (MD, PhD), and Janne Jokinen (MD, PhD), as well as CEO Paavo Heikkinen will remain significant shareholders.
Paavo Heikkinen will continue to lead the company and is excited about the partnership: “This is an important step change for Repolar as a business. A strong focus on scientific and clinical research has always been at the heart of our operations. Our next step as a company is to adopt a more strategic marketing and brand-building approach, with an emphasis on customer and market alignment. I am confident that this partnership will enable us to accelerate our growth and further strengthen our competitive position.”
Lauri Sipponen, representative of the founding family and Repolar board member, comments: “As founders, we are happy to have found Evolver as a partner for our next growth journey. We have built up the company patiently, with the support of our family and close colleagues who have become like family members. Over almost two decades, Repolar has demonstrated scientific and commercial innovativeness and has become successful in Finland, as well as recently successfully entered Sweden and Norway. With our experienced key personnel and Evolver as growth partner, we can accelerate growth in the Nordics and Central Europe and build a winning team for this journey.”
”We are honored and excited to become part of Repolar’s growth journey and to support a business that connects nature, humans, and animals. We are deeply impressed by the pioneering spirit, passion, and scientific expertise that have driven the company’s success to this point, and we look forward to supporting Paavo and his team in the internationalization of this Finnish success story”, says Erik Flodin, Partner at Evolver Equity.
For more information, please contact:
Erik Flodin, Evolver Equity, tel +358 457 575 9151
Paavo Heikkinen, Repolar Pharmaceuticals, tel. +358 50 42 92 611
Lauri Sipponen, tel. +358 50 38 77 444
About Repolar
Repolar Pharmaceuticals Oy researches, develops, manufactures and markets treatment products for humans and animals based on the active ingredients of spruce resin. The products are classified as self-care products and primarily aimed at wound and skin care for both home and professional use. Key customer segments include pharmacies, veterinarian clinics, pet shops, and specialized distributors. The company’s quality management system is ISO 13485-certified. Repolar is based in Espoo, Finland and has a turnover of €3.2m (2023).
About Evolver
Evolver Equity Ab is a Finnish private equity investor and alternative investment fund manager specializing in Nordic small-cap buyouts. Evolver’s mission is to support businesses in their transformation from founder-led to management-driven companies, hence unleashing their potential. Since inception in 2009, Evolver has executed more than 40 corporate transactions and currently manages two buyout funds, both primarily funded by leading Finnish institutional investors. In 2024, Evolver was awarded the Alternative Managers’ Platinum Private Equity Buyout Award by Scandinavian Financial Research (https://www.sfr-group.com/en/), an award granted based on assessment of the quality of a fund manager’s service in comparison to its peers, and investor satisfaction with returns.