Lassila & Tikanoja – Acquisition of Sihvari to Strengthen Circular Economy

We advised Lassila & Tikanoja in the acquisition of the entire share capital of Sihvari Oy. The acquisition strengthens L&T’s recycling and waste management services in the Jyväskylä and Turku regions as well as the Helsinki Metropolitan Area.

The acquisition includes Sihvari’s subsidiary Turun Seudun Hyötykuljetus Oy.

‘We are happy to now be able to offer our customers Sihvari’s agile, local expertise in the same package with L&T’s circular economy services. This deal will enable us to provide even better access to circular economy services to small and mid-sized companies’, says Petri Salermo, L&T’s senior vice president of environmental services.

Sihvari is a waste management services company established in 2002. It participates in the circular economy through the efficient collection and transport of materials. The company’s operations are focused on the Jyväskylä region, South-West Finland and the Helsinki Metropolitan Area.

‘It is important to us that our operations continue steadily and at a high level of quality. We believe that working with L&T is the right solution to providing our customers even better and more versatile services in the future’, says Janne Andersin, Sihvari’s managing director.

Our advice in this deal was part of our long-standing relationship with Lassila & Tikanoja. Our client team included experts from our M&A, Employment and Procurement services.

Sihvari was founded in Central Finland in 2002. It has grown into one of the largest Finnish transport companies operating in the circular economy. The parent company and its subsidiary Turun Seudun Hyötykuljetus employ over 80 people and operate approximately 70 collection vehicles. The company has branches in Jyväskylä, Helsinki, Turku, Kuopio and Lahti.

Lassila & Tikanoja is a service company that makes circular economy a reality. With operations in Finland and Sweden, L&T employs 8,100 people. Net sales in 2020 amounted to EUR 751.9 million. L&T is listed on Nasdaq Helsinki.