BaltCap’s portfolio company Magnetic MRO gained a notable recognition last week when their financial manager Astrit Visma-Kass was chosen as the Most Infuential CFO of the Year by Estonia’s biggest business newspaper Äripäev together with BIG4 auditing bureaus.
Astrit played a key role in a major sale transaction that saw BaltCap with smaller minority shareholders selling 100% of their stake in Magnetic MRO to Guangzhou Hangxin Aviation Technology for 43 million euros. BaltCap’s partner and Magnetic MRO’s Chairman of the Supervisory Board Kristjan Kalda has called this deal the largest exit transaction in BaltCap’s history.
PwC‘s leading auditor and representative in the jury Tiit Raimla pointed out that Astrit put a lot of effort into perfecting financial reports in addition to making crucial financial information accessible in multiple due diligence processes. With many potential buyers, the whole process was almost as a second job for Magnetic MRO’s CFO, Raimla added.
New member of the jury and EY partner Ranno Tingas described Astrit as a very determined person who can see the smaller details as well as the big picture of the financial world.
“I am happy that she has received the recognition she deserves,” said Tingas.
In addition to the Most Influencial CFO of the Year category, the readers of the website Finantsuudised helped to select the award for the Best Colleague which was also won by Astrit Viisma-Kass. It is worth to note that in 2017, Magnetic MRO also received the Company of the Year and Exporter of the Year awards in Estonia.
The award for the Most Influential CFO of the Year was handed out for the 7th time. BIG4 auditing bureaus and Äripäev selected 15 nominees that had been responsible for huge transactions or noticed due to their smart financial leadership.
Toomas Truuverk, Head of the Jury and CFO of Äripäev said that the Most Influential CFO award helps highlight people who often work in obscurity but play a crucial role in their companies.
“We want to value the contribution of CFOs who stand out from their colleagues for something extraordinary, whether with huge transactions or remarkable financial organization. Globalisation of businesses along with rapid development of technology pose new challenges to CFOs and in order to succeed you must be adaptable and ready for change,” said Truuverk.
Chairman of The Supervisory Board, Magnetic MRO
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