Finnish private investment firm Sponsor Capital Oy will buy a majority stake in Herrmans Oy Ab for an undisclosed amount.

Herrmans is a Finland-based manufacturer of light products for heavy duty vehicles and bicycle components.

Under the terms of the deal, Sponsor will become the new majority owner of Herrmans by the end of 2018.

Former owners will remain significant shareholders. Herrmans CEO Tom Nordström, along with the company's management team and Elo Mutual Pension Insurance Co., will become shareholders.