6.10.2021

Kansallisholding and Redeve – Sale of Shares in Rakennuttajatoimisto HTJ to Sievi Capital

Related services

Capital Markets & Public M&A

We assisted Kansallisholding Oy and Redeve Oy, the shareholders of Rakennuttajatoimisto HTJ Oy, in the sale of their shares in Rakennuttajatoimisto HTJ. The purchaser is Sievi Capital Plc, which is a private equity investment company listed on the official list of the Helsinki Stock Exchange. The transaction will be carried out by a new company. After the completion of the transaction, Sievi Capital’s holding in the company will be 92.4%. The other owners of the company will include HTJ’s executives and members of the board of directors. The debt-free purchase price of the transaction is EUR 13.75 million.

HTJ is a construction management company founded in 1999 that offers its customers a wide range of expert services in construction management, site supervision, energy and environmental consulting, and project management. The company employs approximately 150 experts. Headquartered in Vantaa, the company also has offices in Tampere, Turku and Hämeenlinna. In 2020, HTJ’s net sales were EUR 18.5 million.

Sievi Capital is a private equity investment company that invests in small and medium-sized Finnish companies. Sievi Capital is a long-term and committed partner with management and co-owners in target companies and actively supports growth, performance and value creation.

Our team

Latest references

NoHo Partners – EUR 50 million secured notes and EUR 97 million senior secured facilities agreement

We advised NoHo Partners Plc on the issuance of EUR 50 million senior secured floating rate notes. The notes have a tenor of four years and mature on 10 September 2030. The notes bear interest at a rate of three-month EURIBOR plus a margin of 4.375 per cent. per annum. The notes were allocated to a mix of domestic and international investors. We also advised NoHo Partners on the negotiation of its new senior facilities agreement. The facilities agreement comprises a EUR 60,000,000 term loan facility, a EUR 10,000,000 capex facility and a EUR 27,000,000 revolving credit facility. “We are delighted by the interest investors have shown in the company’s Notes, which reflects confidence in our strategy. The successful issuance of the Notes, together with the new loan agreement, extends the maturity profile of our financing and enables the company to continue executing its growth strategy going forward. I would like to thank all investors for their participation, as well as our partner bank for the excellent execution of the Notes issuance”, says Jarno Suominen, CEO of NoHo Partners. OP Corporate Bank plc acted as the sole lead manager and bookrunner for the issue of the notes. NoHo Partners Plc is a Finnish group established in 1996, and it specialises in restaurant services being the creative innovator of the Northern European restaurant market. The company was listed in Nasdaq Helsinki in 2013 becoming the first Finnish listed restaurant company, and it has continued to grow strongly throughout its history. NoHo Partners’ vision is to be the leading restaurant operator in Northern Europe.

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.

Finnish Cultural Foundation – EUR 76 million secondary share sale in an accelerated book-building

We advised Finnish Cultural Foundation and Nordea, who acted as the Sole Bookrunner, in the sale of 3 million shares in Huhtamäki Oyj held by Finnish Cultural Foundation in an accelerated book-building. The shares represented approximately 2.8% of all shares in Huhtamäki Oyj. The aggregate selling price of the shares amounted to approximately EUR 76 million.

Huhtamäki – EUR 300 million bond and tender offer of bond maturing in 2027

We advised Huhtamäki Oyj on its issuance of a EUR 300 million 6-year senior unsecured bond under the EMTN programme and on the tender offer of its EUR 500 million senior unsecured bond maturing in 2027. The new bond bears interest at a fixed rate of 3.875 per cent per annum. Huhtamäki used the net proceeds from the issuance of the new bond for the partial repurchase of its bond maturing in 2027 and for general corporate purposes.

Search from the site.