The new Swedish office of CapMan, the Nordic private equity house, has clinched its first buy-out with the acquisition of Metallfabriken Ljunghäll, a Nordic aluminium die-cast manufacturer.

CapMan opened the Stockholm office earlier this year, taking on three new people to lead a team of 18. The Swedish buy-out market is regarded as largely untapped. Permira also opened an office there earlier this year.