Construction & Industrial Services

Construction & Industrial Services

Urbanisation, energy and traffic revolutions, reduction of environmental load—society’s largest changes are affecting construction and industrial services. Added value is to be found in expertise, data and efficiency. The development of digital technology, automation and the shift to a service economy create the need for new types of expertise and encourage new forms of cooperation.

Our construction and industrial service experts have solid experience of cooperation arrangements in these fields and of demanding construction projects. You will get comprehensive legal support, for example, in mergers and acquisitions, outsourcing, life cycle projects and dispute resolution.

Latest references

Voima Ventures – Investment in Aisti Corporation

We represented Voima Ventures in the Series A funding round of Aisti Corporation. Aisti’s EUR 29 million funding round will support the construction of its first commercial factory in Kitee, Finland, enabling the company to scale production. Other investors include Maki.vc and Valve Ventures Consortium among others. Voima Ventures is a venture capital fund investing in top scientific deep tech ventures in the Nordics and Baltics. Aisti Corporation is an acoustic tiles manufacturer with sustainability and functionality at heart. Aisti’s acoustic tiles are made from highly renewable wood fibres. With the factory in Kitee, the company plans to achieve a production capacity of 2.5 million square meters annually.

Hanza AB – Acquisition of Leden Group

We are acting as Finnish advisor to Hanza AB relating to its acquisition of all the shares in Leden Group Oy. Hanza AB is a Swedish mechanical engineering and electronics contract manufacturing company listed on the Stockholm Stock Exchange. Founded in 2008, the company has six manufacturing clusters in Sweden, Finland, Germany, Baltics, Central Europe and China and an annual turnover of approximately SEK 4.6 billion. Leden Group is a leading Finnish contract manufacturer specialising in sheet metal, machining and complex assembly. Leden Group has four production sites in Finland and one in Estonia and an annual turnover of approximately SEK 1.1 billion. The closing of the transaction remains subject to authority approval and customary conditions.

Huhtamaki – EUR 450 million sustainability-linked syndicated revolving credit facility

We advised Huhtamaki Oyj in relation to a EUR 450 million sustainability-linked syndicated multi-currency revolving credit facility loan agreement (“RCF”) with a maturity of five years. The RCF refinances an existing EUR 400 million sustainability-linked syndicated revolving credit facility signed in January 2021 and will be used for general corporate purposes of the Group. The RCF has two one-year extension options at the discretion of the lenders. The Mandated Lead Arrangers and Bookrunners of the RCF are Citi, Nordea Bank Abp, Skandinaviska Enskilda Banken AB (publ), BNP Paribas, Commerzbank Aktiengesellschaft, Danske Bank A/S, DBS Bank Ltd., London Branch, J.P. Morgan SE, Landesbank Hessen-Thüringen Girozentrale, OP Corporate Bank plc, Raiffeisen Bank International AG and Standard Chartered Bank AG.

A large Finnish group – Construction contract dispute

We represented a mutual real estate company belonging to a large Finnish group in arbitration proceedings against a construction company. The arbitral tribunal rejected the construction company’s claims in their entirety and ordered the construction company to reimburse our client for the costs of the arbitration proceedings in full. The dispute concerned the contract price under the construction contract, which was agreed to be determined on the basis of our client’s yield requirement and the rent under the lease agreement for the building in question. The parties disagreed on the indexation clause applicable to the rent adjustment and its impact on the contract price.

Latest insights

20.3.2024 – Restructuring & Insolvency Can a construction company be restructured?

Christer Svartström

Christer Svartström

18.1.2024 – International Construction & Projects Bankruptcies in the construction industry are increasing – how to prepare for the contractor’s bankruptcy?

Elina Pesonen

Jerker Pitkänen

Elina Pesonen & Jerker Pitkänen

7.9.2021 – International Construction & Projects Freedom of Contract in Demanding Construction Projects Should Not Be Limited in Legislative Reform 30.10.2024 – Environment, Energy & Green Transition New siting permit for clean energy transition projects proposed for inclusion in the Building Act

Marius af Schultén

Helinä Teittinen

Jessica Salmia

Marius af Schultén, Helinä Teittinen & Jessica Salmia

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