CapMan Russia fund of Finland and Gimv of Belgium have provided a growth capital to Russian photo services business Expert Photo. As a result of the investment, private equity firms CapMan and Gimv will each hold a 19% equity stake in Expert Photo, the firms announced.
Founded in 1995, Expert Photo provides online and offline photo printing services and photo products such as photo books, calendars, canvases and souvenirs for retail and corporate customers in Russia. Expert Photo had net sales of EUR 10 million in 2010. The company employs some 250 people.