4.6.2018

Keensight Capital – Acquisition of Biovian

We acted as advisor to Keensight Capital in its acquisition of a majority stake in Biovian Oy alongside the founders and the managers of Biovian and Edmond de Rothschild Equity Strategies (ERES) funds. Our Private Equity, Tax & Structuring, and Banking & Finance services advised Keensight Capital on all relevant legal, tax, structuring and financing aspects of the transaction.

Founded in 2003, Biovian is a leading European GMP (Good Manufacturing Practice) contract development and manufacturing organisation (CDmO) of biopharmaceuticals, providing manufacturing and development services from early stage to finished product. The company provides services to approximately 30 customers, including international biotech and biopharma companies from the E.U., U.S. and South Korea.

Keensight Capital is one of the leading European growth buyout firms, having almost 20 years of experience in investing for the long term in profitable companies with high growth potential and revenues in the range of €15 million to €250 million. Keensight Capital has strong expertise in the sectors of internet & information technology and healthcare & wellbeing, and in particular the pharma industry and the CDmO sector.

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Nala Renewables – Development, acquisition and financing of battery energy storage system (BESS) project

We advised Nala Renewables on the Finnish law aspects of the development, acquisition and financing of its battery energy storage system (BESS) project in Vuolijoki, Finland. The project comprises a 125 MW / 250 MWh battery energy storage system. Our advice extended beyond financing to the transaction’s legal due diligence and the acquisition of the project company. We also advised on key project contracts and financing documentation for the project finance facilities provided by Coöperatieve Rabobank U.A. The project is part of Nala Renewables’ growing portfolio of battery storage assets in Finland and the wider Nordic region, supporting the integration of renewable energy and contributing to the flexibility and stability of the Finnish electricity grid.

Foundation Clinic – Funding Round

We advised Foundation Clinic in connection with its funding round backed by a group of prominent Finnish technology entrepreneurs and investors, including founders behind Supercell and Wolt. Foundation Clinic is a Finnish healthcare company developing a new approach to private healthcare focused on preventive, data-driven and continuous care. The company aims to combine comprehensive health data with ongoing medical care to identify and address health risks at an early stage.

Delta Capacity – Project financing of two battery energy storage systems (BESS)

We advised Delta Capacity AG in a project financing of two battery energy storage systems (BESS). The financed projects are among the largest BESS developments in Finland to enter construction with 250 MW / 600 MWh combined capacity. The financing was provided by Société Générale with support from Finnvera. Construction of both projects, located in Lapinlahti and Teuva, has already begun and the commercial operations are targeted to commence in late 2027 with partial tolling agreements already in place for both assets. The project in Lapinlahti is executed in partnership with Covenergo, while the project in Teuva is executed in partnership with Strioga Family Foundation. Delta Capacity is a Swiss developer of utility-scale battery storage systems. The projects strengthen Delta Capacity’s growing Nordic portfolio and support the flexibility of Finland’s electricity system by adding energy storage capacity, enabling production optimization as well as participation in electricity markets and reserve services.

Martela Corporation – Directed share issue and combination of share series

We acted as legal adviser to Martela Corporation in its directed share issue, through which Martela raised gross proceeds of approximately EUR 7.2 million to strengthen the company’s financial position and liquidity and to create headroom for continuing the necessary development and efficiency measures. In connection with the directed share issue, Martela’s unlisted series K shares, which carried greater voting rights, were combined with its listed series A shares. Following the combination, the company has only one share series, which is traded on the regulated market maintained by Nasdaq Helsinki Ltd, with each share carrying one vote and otherwise identical rights. Martela is a Nordic leader specialising in user-centric working and learning environments. With over 80 years of experience, Martela creates the best places to work and offers its customers the Martela Lifecycle solutions which combine furniture and related services into a seamless whole.

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