7.4.2021

Rettig – Divestment of Alandia to UBV Alandia Holding

Related services

Mergers & Acquisitions

We advised Rettig Group in the divestment of its 24.9% stake in Alandia, a marine and yacht insurance company, to UBV Alandia Holding, a company owned by a consortium of investors including Bank of Åland, Veritas Pension Insurance, Viking Line, Lundquist Shipping Company Limited, Wiklöf Holding and the association Föreningen Konstsamfundet.

Alandia is one of the leading marine insurers in the Nordic and Baltic region. The company was a mutual insurance company until 2014. Rettig Group’s stake in Alandia originates from its earlier ownership of shipping company Bore, which was an insurance customer of Alandia and became a shareholder of the company as a result of the demutualisation of Alandia in 2014.

Rettig Group is a leading Finnish family-owned investment company that creates value for generations through active and responsible ownership. Its core investments are Alandia, eQ, Nordkalk, Purmo Group, and Terveystalo.

Our team

Latest references

Fortum – Sale of recycling and waste business

We are acting as the lead counsel to Fortum in a cross-border transaction in which Fortum is selling its recycling and waste business. The business is sold to thematic impact investing firm Summa Equity through its portfolio company NG Group. The debt-free purchase price is approximately EUR 800 million. The transaction is subject to authority approval and customary closing conditions. Fortum’s recycling and waste business to be sold comprises municipal and industrial waste management and end-to-end plastics, metals, ash, slag and hazardous waste treatment and recycling services. These businesses are located in Finland, Sweden, Denmark and Norway and currently employ approximately 900 employees.

Andritz – Acquisition of Procemex

We advised Andritz Oy, a part of ANDRITZ group, with their acquisition of all the shares in Procemex Oy. The acquisition further strengthens ANDRITZ’s automation and digitalisation portfolio. Procemex is a global leader in integrated web monitoring and web inspection solutions for the pulp and paper industry. It has a team of more than 100 vision systems experts and has subsidiaries in Germany, Japan and the US. ANDRITZ offers a broad portfolio of innovative plants, equipment, systems, services and digital solutions for a wide range of industries and end markets. ANDRITZ is a global market leader in all four of its business areas – Pulp & Paper, Metals, Hydropower and Environment & Energy. The publicly listed group has around 30,000 employees and over 280 locations in more than 80 countries.

Exsitec – Acquisition of M-flow Finland

We advised Exsitec Holding AB in a transaction whereby it acquired all the shares in M-flow Finland Oy. M-flow Finland Oy is a Finnish company engaged in reselling Medius B2B standard S2P software-as-a-service solutions in Finland. Exsitec Holding AB is a Swedish company part of the Nordic Exsitec group, which has over 20 offices in the Nordics. Exsitec delivers digital solutions to improve its customers’ businesses.

Avesco – Acquisition of Vatupassi Törmälä

We advised Avesco AG in a transaction whereby it acquired all the shares in Vatupassi Törmälä Oy. We also advised Avesco AG in the corporate structuring following the transaction. Vatupassi Törmälä Oy is a Finnish equipment rental company specialising in the rental of construction equipment. It has offices in five locations in Central Finland. Avesco AG is a family owned, leading machinery rental company in Switzerland. The company employs over 1,100 employees in Switzerland, Austria, Finland and the Baltics. Avesco AG is also the official partner of machinery manufacturer Caterpillar. After the transaction Avesco Rent Oy and Vatupassi Törmälä Oy will be merged and the operations are continued under the Vatupassi brand.

Search from the site.