3.2.2021

Finnlines – Acquisition of Three New Hybrid Cargo Vessels

Related services

We were the legal adviser in three arrangements for the financing of the acquisition of three new ultra-green hybrid cargo vessels by Finnish shipping company Finnlines Plc. The new hybrid cargo vessels will be equipped with high-powered battery banks and photovoltaics, which will allow the ships to use electricity and operate emission-free while docked. The vessels will be delivered during 2021–2022 and will operate on routes between Finland and Europe.

These new vessels are larger than the ships Finnlines currently has in use and will increase the company’s transport capacity substantially. The design of the vessels’ hull, the propeller-rudder system and the innovative air lubrication under the keel will reduce friction and hydrodynamic resistance and, thus, significantly reduce the environmental impact.

Finnlines Plc is the largest shipping company in Finland, providing passenger and freight transport, as well as stevedoring services in Helsinki, Turku and Naantali. Founded in 1947, the company currently employs around 1,600 people. Finnlines Plc is a leading shipping operator of ro-ro and passenger services in the Baltic Sea, the North Sea and the Bay of Biscay. The Company is a part of the Grimaldi Group, one of the world’s largest operators of ro-ro vessels and the largest operator of the Motorways of the Sea in Europe for both passengers and freight.

Our team

Latest references

Swedbank – Refinancing of Trophi’s Finnish retail real estate portfolio

We advised Swedbank AB (publ) on the refinancing of a large Finnish retail real estate portfolio owned by Trophi’s Finnish subsidiaries. Trophi is the leading Nordic real estate company focusing on grocery anchored retail properties, with 278 properties across Sweden and Finland. Finland is a market that continues to develop and is also strategically important for Trophi, accounting for approximately 30% of Trophi’s letting and property value.

Suominen Corporation – Rights Issue

We advised Suominen Corporation in connection with its rights issue. The offering was oversubscribed, and the company raised gross proceeds of approximately EUR 28 million. We also advised Suominen in connection with the renegotiation of the terms of the company’s three-year EUR 100 million syndicated credit facility, under which the maturity was extended and headroom was added to the financial covenants. “I would like to thank our shareholders for their support and confidence in Suominen’s future. The completion of the Offering will enable us to accelerate the implementation of our Full Potential Program while strengthening our capital structure. Our transformation particularly focuses on enhancing the reliability and efficiency of our production and supply, and on reinforcing our commercial capabilities, allowing us to better meet the expectations of our customers and shareholders”, comments Charles Héaulmé, President and CEO of Suominen. Suominen is a nonwovens manufacturer operating in global markets. Suominen creates value by taking fiber raw materials and turning them into nonwovens that the company’s customers convert into both consumer and professional end products. Suominen’s vision is to be the frontrunner for nonwovens innovation and sustainability. Suominen’s net sales in 2025 were EUR 412.4 million and the company has almost 700 professionals working in Europe and in the Americas. Suominen’s shares are listed on Nasdaq Helsinki.

Nordea Bank Abp and Avain Yhtiöt – A financing arrangement of a real estate portfolio

We acted as joint legal advisor for Nordea Bank Abp and Avain Yhtiöt in an approximately EUR 48 million financing arrangement which included facilities for refinancing of an existing real estate portfolio and also for acquisition and property development purposes. The financing arrangement strengthens Avain Yhtiöt’s objective to build and maintain a functional, safe and environmentally friendly living environment, as well as to develop the overall quality of housing and construction. Avain Yhtiöt is a Finnish group specialising in housing and housing-related services, construction contracting and new construction. Its goal is to build 1,000 new apartments per year in key growth areas in Finland.

Hiab acquisition financing

Hiab – Financing for USD 1,035 million acquisition of Labrie Environmental Group

We are advising Hiab Corporation in the financing for its USD 1,035 million acquisition of Labrie Environmental Group, a leading North American refuse collection vehicle (“RCV”) manufacturer, from Wynnchurch Capital, L.P. Hiab Corporation (Nasdaq Helsinki: HIAB) is a leading provider of smart and sustainable on-road load handling solutions, with 2025 sales of approximately EUR 1.6 billion and approximately 4,000 employees, operating through a global network spanning over 100 countries. Labrie Group is a leading North American provider of RCVs, employing approximately 1,200 people.

Search from the site.