The Finnish summer is showing its best and there is an air of cautious anticipation. The war in Ukraine continues for the second year, market development is difficult to foresee and the rising interest rates hit both companies and households hard. On a brighter side, the energy transition is carrying Europe towards an emission-free era, bringing along new growth opportunities or those ready to seize the opportunity. The Finnish political field also shows clear signs of purposeful changes to a more business-friendly direction and the beginning of a new era.
7.7.2023
It takes courage and determination to make a change
Sakari Lukinmaa
The only constant in life is change, and amid all the changes, we need to focus on the things we can control. Right now, we can control how we adapt to the changing world. We will need courage and determination to help us forward even through difficult times. Despite hardships, now it’s the time to sow the seeds for future growth and focus on green transition investments and support them on all levels of decision-making as well as promote green innovations. There is good reason to believe that the energy transition will create enormous opportunities and can help turn this decade into a decade of growth in Finland.
We at Castrén & Snellman have also drawn from our courage and determination. This summer, we celebrate our 135-year-long journey that we have travelled through the changing society in an independent Finland, enabling the success our clients. The trust shown by our clients has turned the small boutique firm established by two men into an international forerunner of business law, employing more than 300 experts. We want to hold on to our standard of exceeding expectations at all times.
As a forerunner, we embrace our responsibility at the dawn of a new era. Finland is a pioneer in the energy transition, and Castrén & Snellman is advising in the most important renewable energy projects in Finland. I believe that the prelude of yet another success story has been played and that it is up to us to decide how the story continues.
Our warmest thanks to our clients, stakeholders and employees! We wish you a happy summer!
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Latest references
NoHo Partners – EUR 50 million secured notes and EUR 97 million senior secured facilities agreement
We advised NoHo Partners Plc on the issuance of EUR 50 million senior secured floating rate notes. The notes have a tenor of four years and mature on 10 September 2030. The notes bear interest at a rate of three-month EURIBOR plus a margin of 4.375 per cent. per annum. The notes were allocated to a mix of domestic and international investors. We also advised NoHo Partners on the negotiation of its new senior facilities agreement. The facilities agreement comprises a EUR 60,000,000 term loan facility, a EUR 10,000,000 capex facility and a EUR 27,000,000 revolving credit facility. “We are delighted by the interest investors have shown in the company’s Notes, which reflects confidence in our strategy. The successful issuance of the Notes, together with the new loan agreement, extends the maturity profile of our financing and enables the company to continue executing its growth strategy going forward. I would like to thank all investors for their participation, as well as our partner bank for the excellent execution of the Notes issuance”, says Jarno Suominen, CEO of NoHo Partners. OP Corporate Bank plc acted as the sole lead manager and bookrunner for the issue of the notes. NoHo Partners Plc is a Finnish group established in 1996, and it specialises in restaurant services being the creative innovator of the Northern European restaurant market. The company was listed in Nasdaq Helsinki in 2013 becoming the first Finnish listed restaurant company, and it has continued to grow strongly throughout its history. NoHo Partners’ vision is to be the leading restaurant operator in Northern Europe.
Case published 4.9.2026
Topfoods – Acquisition of Delice Plus
We advised Topfoods Oy, a Triton-backed Geia Group company, on its acquisition of Oy Delice Plus Ab, a Finnish supplier of cakes and pastries. Through the acquisition, Topfoods strengthens its retail business and further reinforces its position in the cakes and pastries segment. Founded in 2008, Topfoods supplies selected food products to professional kitchens, the retail sector, and the food industry.
Case published 4.9.2026
Deka Immobilien – Acquisition of a prime logistics property
We advised Deka Immobilien on its acquisition of a prime logistics property located at Turvalaaksonkuja 4, Vantaa, for the Deka-ImmobilienEuropa open-ended real estate fund. The property is situated within the Aviapolis logistics cluster, which is Finland’s leading logistics hub, benefiting from its location next to Helsinki Airport and its connections to the country’s main transport routes. Completed in 2022, the modern property comprises 32,947 sqm of lettable space and is fully let on a long-term basis to Barona Varastopalvelut Oy. The tenant is a Finnish 3PL provider offering warehousing and e-commerce logistics services to companies in Finland and internationally and uses the property as its central logistics hub. The property has achieved a BREEAM International New Construction rating of Excellent and an EPC rating of A, and it features photovoltaic and geothermal systems, among other things.
Case published 3.9.2026
HANZA – Divestment of its Nivala and Sievi operations
We advised HANZA on the divestment of its Nivala and Sievi operations. The transaction was part of HANZA’s larger strategic reorganisation, where the company optimised its Finnish manufacturing cluster. Founded in 2008, HANZA is a Swedish mechanical engineering and electronics contract manufacturing company listed on the Nasdaq Stockholm main list. HANZA has approximately 5,000 employees and annual sales of SEK 10 billion.
Case published 3.9.2026