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ResearchedPrivate Equity

Aapo Eskelinen

Partner (Investment Professional) · MB Funds (MB Rahastot)

Private Equity InvestorMid-market buyouts (majority equity investments); companies with EUR 20-200M net salesB2B services, technology, healthcare, industrialsHelsinki, Finland
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At a glance

Title
Partner (Investment Professional)
Role
Private Equity Investor
Firm
MB Funds (MB Rahastot)
Firm Type
Private Equity
Firm AUM
~EUR 500 million
Investment Stage
Mid-market buyouts (majority equity investments); companies with EUR 20-200M net sales
Sector Focus
B2B services, technology, healthcare, industrials
Location
Helsinki, Finland
At Firm Since
May 2016

Background

Aapo Eskelinen is a Partner at MB Funds (MB Rahastot), one of Finland's leading private equity firms founded in 1988. He joined MB Funds in May 2016, bringing over 12 years of experience spanning corporate M&A, investment banking, and business development. At MB Funds, Eskelinen is responsible for deal origination, execution, and portfolio management across the firm's mid-market investments in Finnish companies, many of which operate in international markets.

Prior to MB Funds, Eskelinen spent four years as Director of Mergers & Acquisitions at Rautaruukki Corporation and SSAB, a global special steel company, where he led transaction and business development projects. Before his corporate M&A tenure in the steel industry, he served as a Partner at Summa Capital and held a position in corporate finance at ICECAPITAL, a Nordic investment bank. This combination of buy-side corporate and sell-side advisory experience gives him a well-rounded perspective on deal-making.

Eskelinen holds a Master of Science in Economics and a CEMS MIM (Master's in International Management) degree, having studied at Copenhagen Business School (2003-2006). He currently serves as Chairman of the Board at Neomore and is actively involved in the oversight of several MB Funds portfolio companies including Spider Med, Mintly Oy, and InCar - Autokorjaamokeskus.

Investment Thesis & Focus

MB Funds, under Eskelinen's participation, targets well-established and growing mid-sized Finnish companies, typically with net sales between EUR 20-200 million. The firm takes majority equity positions and pursues value creation through organic growth, strategic add-on acquisitions, and operational improvements over ownership periods of approximately 3-7 years. The fund's investors are primarily Nordic pension institutions. Key sectors of interest include B2B services, technology, healthcare, and industrial companies. The firm emphasizes responsible ownership, trust-based partnership, and productive cooperation with management teams.

Notable Investments

  • StaffPoint (2025) -- Finland's leading staffing services company leveraging digital capabilities; ~EUR 135M net sales
  • Neomore (2024) -- Finnish SAP ERP consulting and software specialist founded in 2006; Eskelinen serves as Chairman of the Board; ~EUR 13M net sales
  • Spider Med (2024) -- Dental care services provider for public and private sectors across Finland; ~EUR 13M net sales
  • Mintly Oy (2022) -- Fast-growing Finnish IT security and networking specialist; ~EUR 35M net sales
  • InCar - Autokorjaamokeskus -- Vehicle service center network (specific investment details not publicly disclosed)

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