29.6.2021

Lassila & Tikanoja – Acquisition of Sihvari to Strengthen Circular Economy

Related services

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.

Our team

Latest references

Stena Line – Acquisition of NLC Ferry (Wasaline)

We are acting as legal adviser to Stena Line on its acquisition of NLC Ferry Ab Oy (Wasaline), strengthening Stena Line’s position in the Baltic Sea and enabling it to take over operations of the ferry route between Umeå in Sweden and Vaasa in Finland. The acquisition further strengthens Stena Line’s position as one of the leaders in sustainability within the ferry industry and enhances the company’s access to alternative fuels whilst providing a strong intermodal transport link towards Gothenburg and Trelleborg, and onwards to the European continent. NLC Ferry, operating under the auxiliary name Wasaline, were owned by Kvarken Link, a company jointly owned 50/50 by the cities of Umeå and Vaasa. Wasaline is the world’s northernmost shipping company, operating daily passenger and freight services between Vaasa, Finland and Umeå, Sweden, and is the first carbon-neutral ferry operator in the Baltic Sea with its hybrid vessel, Aurora Botnia, which runs on biogas and batteries. Stena Line is one of Europe’s leading ferry operators, with 20 routes across the continent. The company is family-owned, was founded in 1962 and is headquartered in Gothenburg, with 6,550 employees and an annual turnover of 19.6 billion SEK. The transaction is conditional to the approval of the respective municipal councils of Umeå and Vaasa as well as customary closing conditions such as authority approvals. The completion of the transaction is expected to take place in the beginning of the year 2026. Castrén & Snellman is collaborating with CMS Wistrand, Stena Line’s advisor on Swedish law matters in connection with the transaction.

SRV – Sale of SRV Infra

We advised SRV Group Plc in its sale of SRV Infra Ltd to Kreate Ltd. The completion of the transaction is subject to regulatory approvals. The parties expect the transaction to be closed by the end of 2025. SRV, established in 1987, is a Finnish developer and innovator in the construction industry. The company is listed on the Helsinki Stock Exchange. In 2024, SRV’s revenue totalled EUR 745.8 million.

Yellow Film Studios – Merger of Yellow Film Studios and REinvent Studios

We advised Yellow Film Studios, the largest independent film and television production company in the Nordics, in its strategic merger with Danish film industry sales and financing studio REinvent Studios. Together they form Reinvent Yellow, a unified hub for television and film production, sales, financing and innovation, combining over three decades of production experience and a vast catalogue of titles.

Vapaus Group – Acquisition of Azfalte

We represented Vapaus Group, a leading provider of employee bicycle benefit services, in its cross-border acquisition of Azfalte, a French corporate bicycle solutions company. The acquisition accelerates Vapaus Group’s international expansion and strengthens its position in sustainable mobility by combining Vapaus’s digital platform and circular-economy capabilities with Azfalte’s established enterprise programs and partner network in France. The transaction advances Vapaus’s growth strategy and increases its ability to help employers meet well-being and sustainability goals in one of Europe’s most dynamic cycling markets. Vapaus Group is at the forefront of sustainable mobility services and has been a pioneer in the employee bicycle benefit sector since 2020 with a vision to become the leading bicycle benefit service in Europe. Vapaus has automated the employee bicycle process through its technology platform, covering payroll, invoicing, logistics, insurance, and financing. Azfalte, founded in 2020, is a pioneer of corporate cycling in France, optimizing financing, tailored bikes, insurance, maintenance, assistance, training, and carbon tracking for the benefit of its clients.

Search from the site.