4.4.2014

DT Group – Acquisition of Puukeskus

Related services

We advised DT Group A/S (owner of Starkki Oy Ab and part of Wolseley Plc) in its acquisition of the entire share capital in Puukeskus Holding Oy from Triton-Partners. Puukeskus, founded in 1929, is Finland’s leading supplier of timber and building materials to trade and the general public. Puukeskus has a wide network of branches nationwide, and every unit boasts professional and service-minded staff. Puukeskus employs 400 persons nationwide, and its net sales exceeded EUR 230 million in 2013.

Starkki Oy is a builders’ merchants chain carrying a wide product range aimed at professional builders, consumers, homebuilders, industry and distributors. The acquisition of Puukeskus will further strengthen Starkki’s core business operations, logistics solutions and product portfolio. Through the acquisition, Starkki will be able to provide greater product availability for their customers and will have a strong branch network presence in all larger cities across Finland.

We also advised our client in the acquisition from Kiwi Holding Oy of a real estate portfolio comprised of 15 properties throughout Finland. All properties in the acquired real estate portfolio are currently leased to Puukeskus Oy. The acquisition of the real estate portfolio allows DT Group to further develop the operations of Puukeskus in the respective branches.

Latest references

Terrieri Kiinteistöt, A. Ahlström Kiinteistöt and S-Bank Building Plot non-UCITS Fund – Sale of a production and logistics property

We are advising Terrieri Kiinteistöt Ky and A. Ahlström Kiinteistöt Oy in the sale of a modern production and logistics building complex to Swedish property investment company Catena AB. We are also assisting S-Bank Building Plot non-UCITS Fund which in connection with the transaction, has agreed to sell the land area where the building complex is located to Catena AB. The building complex located in the immediate vicinity of Helsinki-Vantaa Airport was completed in 2021 and comprises approximately 23,260 square metres of leasable area, fully leased to Cramo Finland Oy. The approximately 140,000-square-metre plot offers additional long-term development potential in the form of approximately 45,000 square metres of additional building rights.

Citycon – Sale of a 275-apartment residential portfolio

We assisted Citycon Oyj in the sale of the Lippulaiva residential assets in Espoo, Finland. The sold residential assets consist of 275 apartments totaling approximately 13,000 sqm, located in connection to Citycon’s Lippulaiva shopping centre. The assets were sold at their latest IFRS book value for a gross purchase price of EUR 61.5 million.

eQ Community Properties Fund – Sale of seven social infrastructure properties

We are assisting eQ Community Properties Fund in the sale of seven social infrastructure properties to Kinland AS. The value of the transaction is approximately EUR 29 million, and the portfolio comprises three preschool facilities and four child protection units from different parts of Finland. The portfolio consists of modern and energy-efficient properties that are long-term leased to leading operators in the industry. The Weighted Average Unexpired Lease Term (WAULT) is approximately 11 years. The transaction is expected to close on 17 December 2025.

Municipality of Tuusula – Data centre project

We are assisting the Municipality of Tuusula in the sale of land to funds managed by Blackstone, a global asset management company, for a data centre project. Currently, a preliminary agreement has been signed for the sale of the approximately 16.7 hectare site in Jokela, Tuusula. In October 2025, the Municipal Council of Tuusula approved zoning amendments that enable the construction of a data centre campus in the Vallunlenkki zoning area. The preliminary agreement on the sale of the land and the approval of the zoning are the first steps in a process that would upon its implementation constitute a significant investment that supports employment and economic growth in Tuusula and its surroundings. The next phase, the environmental impact assessment, is planned to commence in early 2026. Blackstone owns QTS, one of the worlds’s fastest growing data centre platforms with more than 82 data centres in operation or under development across Europe and the United States.

Search from the site.