Nordic Capital has fully exited Finnish general discount retailer Tokmanni Group Corporation.

The private equity house’s €4.3bn (£3.9bn) Fund VII sold all of its remaining shareholding of 15.21 per cent.

Nordic Capital acquired Tokmanni in 2012, putting in place plans to improve operations and invest in direct sourcing which was aided by the opening of the company’s Shanghai office in 2013. Investment was also made in store concept and branding.

Nordic Capital prepared the company for an initial public offering and successfully listed it on the Nasdaq Helsinki in 2016 with a market capitalisation of €394m.

Across the time of Nordic Capital’s investment, Tokmanni increased its revenues by 19 per cent, with 2016 top-line numbers reaching €776m. Staff headcount increased by 300 employees to 3,200 and the retailer opened 18 new stores.

In the last 12 months Nordic Capital floated ConvaTec Group on the London Stock Exchange raising €1.7bn, marking the UK’s biggest IPO of 2016.

Swedish indoor climate control business Munters was also listed on the Nasdaq Stockholm earlier this year, valuing the company’s equity at SEK10.1bn.

In May, Nordic Capital listed traffic safety products and services provider Saferoad.