Trailmaker customer: CapMan Buyout’s investment sets Pharmia on a transformation path from family-owned company

Pharmia is a food supplement and medical equipment manufacturer headquartered in Tuusula, Finland. The market leader in Finland, Pharmia was formed in 1993 and operated until 2021 as a family-owned business. CapMan Buyout acquired a majority share and the firm has undergone a transformation that Trailmaker has helped support.

According to Pekka Kaivola, chairman of the board at Pharmia, the need for food supplements and healthcare products is growing continuously because of an ageing population. “People want to take good care of themselves, and we see the trend for growing business in this sector. It’s the same for our business customers for whom we produce the products.”

The investment by CapMan Buyout speaks to the fact that this is a growth sector, says Kaivola, who notes that the now majority shareholder sees both domestic and international opportunities ahead. “For CapMan, they will be able to impact the sector overall, via future acquisitions by Pharmia and by utilising their own expertise. The target for Pharmia is maintaining the strong market position in Finland while expanding internationally.”

Petteri Laaksomo, Pharmia CEO, says that the change in ownership is a significant point in the company’s journey. “The transformation that we are doing now is maybe the biggest in the whole history of Pharmia. We are converting from a family-owned company with a proud history to a trajectory that is focused on growth and internationalisation.”

Trailmaker helps produce common view about how to execute new strategy  

To help with this transformation phase, Trailmaker was invited to join the process. According to Pekka Kaivola, the restructuring of the ownership at Pharmia meant it was essential to revisit the strategies of Pharmia, and to set clear processes for how to go forward with the operations.

“Trailmaker was brought in because it was essential to have support with this critical strategic process and in the execution of the strategy. The crucial element is that we get everyone in the corporation involved in strategy execution. People must share the visions and common goals of the strategies, otherwise they will fail.”

For CEO Laaksomo, one of the reasons for calling on Trailmaker’s expertise was because they could provide the framework for executing the strategy.

“It’s pretty easy to create the strategy; that’s not the big issue,” he says.

“The key issue is how to execute the strategy; how to make it part of the daily management and daily life in a company. Trailmaker is forcing us to think about the exact approach.

“It’s more like a process, than simply a tool to execute strategy. We have been forced to think about the big picture and slice it into small edible parts. Trailmaker has been challenging the steps forward. This process ensures that everyone has a common view on how to go forward, which is pretty important.”

TRAILMAKER is a concept for faster strategy execution:

• Concrete common view and commitment

• Identified capability needs

• Visibility