Mbrahastot

MB Rahastot Oy, which also uses the name MB Funds, is an independent Finnish private equity firm headquartered at Bulevardi 1 A in Helsinki. It invests primarily in Finnish mid-market companies, many of which operate internationally, and describes a track record in building growth since 1988. Since 2006 the firm has focused on majority equity positions, positioning itself as an active owner that contributes capital together with expertise, experience and networks.

Target companies are typically well-established, growing mid-sized businesses across sectors ranging from services to heavy industry, with turnover at the time of investment ranging from a few million euros to hundreds of millions; one profile of the firm cites a target range of EUR 20-200 million in net sales. Typical investment situations include rapid organic or acquisition-driven growth, international expansion, management buy-outs and buy-ins, business model transformation, family-company succession, corporate divestments and spin-offs, privatisations and delistings. The firm is the major shareholder in its investee companies while management co-invests.

The portfolio and former holdings span staffing and personnel services (StaffPoint), IT and networks (Mintly, Neomore), pharmaceutical contract development and manufacturing (Pharmatory), consulting and built-environment services (Welado, Raksystems), events (LIWLIG), facility services (Alltime), automotive services (Suvia Group, A-Katsastus), industrials and manufacturing (Pinja Group, Parmaco, MM Kotkamills, Dieta), and financing (Noja Rahoitus, LähiRahoitus, Freebo). Portfolio companies pursue frequent bolt-on acquisitions in Finland and elsewhere in the Nordics.

Business model

MB Funds operates as a private equity fund manager, acquiring majority equity stakes in mid-sized companies and holding them for a target period of approximately three to seven years before exit. Management and other key persons of investee companies always retain ownership alongside the fund and participate in incentive programmes, with management's financial resources taken into account when the company's capital structure is designed. Value creation levers include organic growth, domestic and international acquisitions, streamlining operations, value-chain extension and improving market position.

As a private equity fund manager, the firm's economics derive from managing investment funds and from value appreciation of majority stakes realised at exit. Reported company-level financials for MB Rahastot Oy are small: EUR 2.74 million of revenue in 2021, EUR 11,000 in 2024, an operating result of EUR 33,000 in 2025 and a net result of EUR 90,000 in 2025 (EUR 83,000 in 2024).

Traction

The firm lists 24 portfolio and former portfolio companies and more than 50 Nordic mid-sized company investments over its history. Recent disclosed portfolio metrics include StaffPoint with EUR 126 million of 2025 net sales and 5,300 personnel, Mintly with EUR 34 million of 2025 revenue and 47 employees, Neomore with EUR 13 million of 2025 net sales and 88 employees, and Pharmatory with EUR 3 million of 2025 net sales and 20 employees. Raksystems, acquired in 2018 and exited in 2022, had EUR 90 million of revenue at exit.

Latest developments

In February 2026 MB Funds became the majority owner of Pharmatory, a 2001-founded Finnish small-molecule API CDMO in Oulu with EUR 3 million of 2025 net sales and 20 employees, with plans to expand into the high potency API (HPAPI) market through a new facility. On 3 February 2026 the firm signed an agreement to sell Suvia Group Oy to a fund managed by Intera Partners. Other 2026 activity includes publication of the ESG Review 2025 in July 2026, the appointment of Linda Haapio as CFO in August 2026, portfolio company Mintly Group's acquisition of AWS consultancy NordHero Oy in May 2026, StaffPoint's acquisition of PolarPro Henkilöstöratkaisut Oy in August 2026, and LIWLIG's acquisition of Nordic Event ApS in Denmark in January 2026. In 2025 the firm acquired a majority of StaffPoint and sold TietoAkseli Group to ECIT.