8.9.2022

Boreo – Divestment of Russian operations

Related services

Mergers & Acquisitions

We advised Boreo Plc in a transaction in which it sold its 90% shareholding in the electronic component distribution business in Russia (“YE Russia”) to companies controlled by Mr. Yrjö Pönni, current General Director and 10% shareholder of YE Russia. The transaction was executed on 9 August 2022.

Boreo is a company listed on Nasdaq Helsinki that creates value by owning, acquiring and developing B2B businesses in Northern Europe. Boreo’s business operations are organised into three business areas: Electronics, Technical Trade and Heavy Machines. The net sales from the Group’s continued operations in 2021 amounted to EUR 122 million and it employs over 300 people in seven countries.

Our team

Latest references

Milexia Group – Acquisition of business of Alpha Positron

We advised Milexia Group, a portfolio company of the French PE sponsor Crédit Mutuel Equity, on its acquisition of the activities of Alpha Positron Oy, a Finnish distributor specializing in GPS/GNSS, time and frequency solutions for the electronics industry, process automation, corporate IT, defense, and other demanding markets. Milexia Group is one of the world’s leading European suppliers for high-quality electronic components, systems and scientific instruments technology. It has offices, warehouses and technical centres in France, Italy, Spain, the United Kingdom, Germany, Nordics and Hong Kong. The acquisition aligns with Milexia’s strategy to expand its presence in the Nordic region and enhance its portfolio of communication solutions.

Piippo – Sale of bale netwrap and baler twine machines and certain trademarks

We are acting as legal advisor to Piippo Plc in the sale of their bale netwrap and baler twine machines, related assets, and trademarks used in Piippo’s business to Portuguese Cotesi S.A. The sale of assets will be carried out in two phases and the final completion of the transaction is expected to occur during the first quarter of 2026. Piippo Oyj’s core business is baling nets and twine and it is one of the leading suppliers in the industry globally. The company’s global distribution network covers more than 40 countries. The company’s shares are listed on the First North Growth Market Finland operated by Nasdaq Helsinki Oy. Founded in 1967, Cotesi is one of the world’s leading producers of synthetic and natural twines, nets and ropes, with operations in Europe, North America and South America and its main production plant in Vila Nova de Gaia, Portugal.

KKR – Acquisition of Karo Healthcare

We acted as Finnish legal adviser to KKR in connection with its acquisition of the entire share capital of Karo Healthcare from EQT. The transaction follows Karo’s significant strategic transformation from a Nordic specialty pharma business into a leading pan-European consumer healthcare platform, with an attractive product portfolio spanning core categories such as Skin Health, Foot Health, and Intimate Health, as well as Digestive Health and Vitamins, Minerals & Supplements. KKR & Co. Inc. (NYSE: KKR), is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. Completion of the transaction is subject to customary conditions and regulatory approvals. The transaction is expected to close in the coming months.

Savings Banks Group – Sale of Sb Life Insurance

We advised the Savings Banks Group on an arrangement whereby the shares in Sp-Henkivakuutus Oy were sold to Henki-Fennia and at the same time the parties agreed on a long-term distribution cooperation for insurance savings and loan protection products. The closing of the transaction remains subject to regulatory approvals. Sb Life Insurance is a domestic life insurance company, established in 2007, offering insurance savings and risk insurance products to private customers and companies. The Savings Banks and Oma Säästöpankki Oyj act as agents for Sp-Life Insurance. Henki-Fennia is a subsidiary of Keskinäinen Vakuutusyhtiö Fennia, specialising in voluntary life, pension and savings insurance.

Search from the site.