Isabel Carpelan

VR-Group – Sale of road logistics business to investment company Mutares

We are acting as legal advisor to VR-Group Plc in their strategic decision to sell their road logistics business to the investment company Mutares. This transaction supports VR’s focus on rail transport in freight traffic. The road logistics business, which generated a revenue of approximately EUR 80 million in 2023, will be transferred to a newly established company under Mutares. The business unit employs around 75 people who will transition to the new company. The completion of the transaction is subject to approval by the Finnish Competition and Consumer Authority.

18.11.2024

Valio – Purchase of Gold&Green’s Brand, IPR and R&D Function

We advised Valio in the purchase of all the rights of the Gold&Green brand, Gold&Green Foods’ intellectual property and its research and development function from Paulig. Gold&Green Foods is known for its revolutionary plant-based innovation Pulled Oats. The arrangement does not include other Gold&Green Foods operations, and Paulig will continue Gold&Green Foods’ current operations and sell Gold&Green products under license from Valio. ‘Gold&Green has been a pioneer in the field of plant-based food and new product development, and Valio has successfully developed its Oddlygood plant-based product portfolio. Now, the Gold&Green R&D team joins us in reaching our strategic goal—to further strengthen our position in the growing global plant protein market. Together, we will develop the innovations in Gold&Green’s pipeline and continue the story of the brand’, says Tuomas Salusjärvi, Executive Vice President, Growth Businesses and R&D at Valio. Valio is a Finnish dairy and food group founded in 1905 and owned by Finnish regional dairy co-operatives. Valio has subsidiaries in Sweden, the Baltics, the USA and China. It had net sales of EUR 1,787 million in 2019 and employs over 4,000 professionals.

2.3.2022

9Lives Group – Acquisition of Stella Kotipalvelut

We advised first aid and ambulance service company 9Lives Group Oy when it acquired the entire share capital of Stella Kotipalvelut Oy. The acquisition is at the heart of 9Lives’ strategy and is driven by, among other things, the SOTE reform and the megatrend of population aging. ‘Stella is one of the leading players in home care and personal care in Finland. By combining our strengths and expertise, we will have an even stronger foothold in the market as well as a more comprehensive service network, and we will be able to offer high-quality and versatile care close to the customer competitively. In addition, as a Finnish-owned and entrepreneur-driven operator, we are able to react to market changes quickly, in a customer-oriented and reliable manner’, says Markus Ulfstedt , CEO and owner of 9Lives. 9Lives is Finland’s largest private company providing first aid and ambulance services. The clients of its ambulance services are public actors and medical institutions. The company has also lately become known with COVID-19. The company’s turnover in 2020 was approximately EUR 20 million and it employs 800 people. Stella Kotipalvelut Oy is a company specialising in home care services, with a turnover of EUR 24 million in 2020. The company employs 1,600 people, of whom 520 are permanent employees.

5.1.2022

RCL Holding – Acquisition of Helsingin Pantti-Osakeyhtiö and Sefina Svensk Pantbelåning Aktiebolag

We acted as Finnish counsel to RCL Holding AB in its acquisition of Helsingin Pantti-Osakeyhtiö and Sefina Svensk Pantbelåning Aktiebolag from Aurajoki Nordic Group Oy. The acquisition was carried out by RCL Holding AB’s fully owned subsidiary. Morris Law (Sweden) acted as lead counsel for RCL Holding AB. Helsingin Pantti was founded in 1882 and is specialised in pawnbroking, auctioning and sale of second-hand jewellery. Helsingin Pantti is the largest pawnshop in Finland, being active in seven cities and having 12 pawn shops around Finland. In 2020, Helsingin Pantti employed 50 employees and had a turnover of 15.7 million euros. Sefina Svensk Pantbelåning Aktiebolag was established around 1884 and is the largest pawnshop in the Nordics, having approximately 95 employees and 20 pawn shops around Sweden.

2.11.2021

Kansallisholding and Redeve – Sale of Shares in Rakennuttajatoimisto HTJ to Sievi Capital

We assisted Kansallisholding Oy and Redeve Oy, the shareholders of Rakennuttajatoimisto HTJ Oy, in the sale of their shares in Rakennuttajatoimisto HTJ. The purchaser is Sievi Capital Plc, which is a private equity investment company listed on the official list of the Helsinki Stock Exchange. The transaction will be carried out by a new company. After the completion of the transaction, Sievi Capital’s holding in the company will be 92.4%. The other owners of the company will include HTJ’s executives and members of the board of directors. The debt-free purchase price of the transaction is EUR 13.75 million. HTJ is a construction management company founded in 1999 that offers its customers a wide range of expert services in construction management, site supervision, energy and environmental consulting, and project management. The company employs approximately 150 experts. Headquartered in Vantaa, the company also has offices in Tampere, Turku and Hämeenlinna. In 2020, HTJ’s net sales were EUR 18.5 million. Sievi Capital is a private equity investment company that invests in small and medium-sized Finnish companies. Sievi Capital is a long-term and committed partner with management and co-owners in target companies and actively supports growth, performance and value creation.

6.10.2021

Lumise – Sale of Share Capital to Relais Group

We assisted Lumise Oy, a Finnish e-commerce operator specialised in lighting solutions for vehicles, and its procurement company Optisell Oy in the sale of Lumise’s entire share capital by the private owners of the company to Nordic Relais Group Plc. With the acquisition, Relais can accelerate its growth by utilising digitalisation, e-commerce solutions and data analytics. ‘Over the past years, we have invested in back-end systems that enable international scalability. As a part of the Relais Group, we can now get the most out of these investments with the largest product range in Europe’, said Kari Kauhanen , CEO of Lumise. Specialised in the online sales of vehicle lighting, Lumise is the leader in its field in the Nordics, and a fast-growing player in Europe. Lumise has a Swedish subsidiary called Design by Scandinavian Metal AB, which in addition to engaging in e-commerce, develops model-specific auxiliary lighting. Relais Group is the leading consolidator and acquisition platform on the vehicle aftermarket in the Nordic and Baltic countries and is an industrial operator with a sector focus in vehicle life cycle enhancement and related services. Relais Group’s net sales in 2020 were EUR 128.9 million and it employed almost 300 professionals in six different countries.

7.4.2021

Hanza – Acquisition of Suomen Levyprofiili Oy

We advised Swedish company Hanza Holding Ab (publ) in its acquisition of Suomen Levyprofiili Oy. The deal is an important step in HANZA’s ongoing work to expand the group’s development clusters. Suomen Levyprofiili Oy is a successful Finnish manufacturer of sheet metal mechanics. Suomen Levyprofiili has just over 100 employees and operates in a modern production facility in Joensuu, close to HANZA’s other factories in Finland. The sellers are investors connected to Finnish investment company Helmet Capital Oy. HANZA is a knowledge-based global manufacturer that modernises and streamlines the manufacturing industry. HANZA was founded in 2008 and in 2020 had sales exceeding SEK 2 billion. The company has production units in seven countries: Sweden, Finland, Germany, Estonia, Poland, the Czech Republic and China. HANZA is listed on Nasdaq Stockholm’s main list. HANZA will take over Suomen Levyprofiili immediately and will work to develop and integrate the factories in Finland in close collaboration with existing customers during 2021.

22.3.2021

Gasum and C&S – A Shared Course to a Cleaner Future

Over the past seven years, Gasum has transformed itself from a traditional Finnish gas distributor to a modern energy company and significant circular economy operator in the Nordic countries. Castrén & Snellman has stood by Gasum’s side throughout this journey. When General Counsel Tiia Ryhänen joined Gasum in 2013, the company was still a traditional gas distributor. ‘We closed our first liquefied natural gas (LNG) acquisition in 2014. In the seven years since, Gasum has transformed itself into a modern, international energy company and circular economy operator’, Ryhänen said. This major shift has taken place through a series of corporate transactions. Ryhänen has been involved in every one of them over the past seven years. ‘It has been exciting to be a part of creating something new and expanding the company. I have particularly enjoyed welcoming many new people onto the Gasum team.’ ‘Like an Extension of Our In-House Team’ Castrén & Snellman Attorneys has been Gasum’s partner from the very start. ‘C&S has stood by our side throughout this journey. We have a strong partnership. C&S really understands how we handle acquisitions. We always want to act in a way that respects the people on the other side of the table’, Ryhänen said. Ryhänen’s team includes three other in-house lawyers. Since last August, the team has also had one of Castrén & Snellman’s lawyers ‘on loan’, i.e. on secondment. ‘C&S is like an extension of our in-house team. We work with at least one of their lawyers nearly every week. We regularly talk about the best ways to move forward in assignments. We can trust them to always deliver on their promises.’ Towards a Carbon-Neutral Society Gasum is a Nordic gas sector and energy market expert. The company’s strategy is to expand the natural gas market. Our work has a shared purpose: cleaner energy. ‘The demand for natural gas and biogas is growing fast, because fighting climate change requires switching to cleaner solutions. We are building a bridge towards a carbon-neutral society together with our customers and partners.’ In practice, this goal means that Gasum will have to expand its network of gas filling stations, increase its production and sourcing of biogas and help its customers reduce their emissions. ‘We have also expanded our operations on the electricity market. Last September, we entered into a long-term wind power deal with ABO Wind Oy for the output of their wind park. In 2023, we will begin selling our customers renewable wind power produced in Kestilä.’ Gasum’s Journey to a Modern Circular Economy Operator with C&S 2020 Gasum acquires the entire share capital in Swedish biogas producer Skövde Biogas AB from Torran Gas Holding AB. 2019 Gasum acquires AGA’s Clean Energy business and Nauticor’s Marine Bunkering business from Linde AG. Gasum sells its subsidiary Gasum Tekniikka Oy to industrial maintenance partner Viafin Service Oyj. 2018 Gasum increases its shareholding in Skangas to 100%. Gasum acquires Enegia Group Oy’s energy market services business. 2017 Gasum increases its shareholding in Skangas to 70%. Gasum sells its heat business and natural gas retail business to Auris Kaasunjakelu Oy in the Auris gas distribution network area. Gasum acquires 100% of the shares in the Swedish biogas producer Swedish Biogas International. The acquisition makes Gasum the leading producer of biogas in the Nordic countries. 2016 Gasum acquires the Biotehdas biogas plant chain owned by Taaleritehdas Biofactory I Ky Private Equity Fund. Gasum and its subsidiary Skangas acquire the Risavika LNG production plant in Norway from Lyse Group. Gasum acquires the full shareholding of Biovakka Oy. 2015 Gasum sells the shares in its subsidiaries Gasum Paikallisjakelu Oy and Helsingin Kaupunkikaasu Oy to SL Capital Partners. 2014 Gasum acquires a majority in Skangass’s liquefied natural gas (LNG) distribution operations from Lyse Corporation. The acquisition makes Gasum the leading Nordic LNG operator.

15.1.2021

Sodexo – Acquisition of Eazybreak

We acted as legal advisor to Sodexo Benefits & Rewards Services in a transaction in which Sodexo acquired the entire share capital of Eazybreak Oy. Sodexo has been a minority shareholder of Eazybreak since 2017 and in this acquisition Sodexo purchased the remaining share capital. Sodexo Benefits & Rewards Services is part of Sodexo Group, which is listed on Euronext Paris. Sodexo Benefits & Rewards Services operates in over 30 countries and is the market leader within the global benefits solutions business. Established in 2009, Eazybreak is a Finnish growth company that has developed a fully automated mobile benefit solution, and its services are used by nearly 200,000 users in Finland.

6.7.2020

Peptonic Medical – Acquisition of Majority Stake in Lune Group

We advised Peptonic Medical AB (publ), a Swedish medical development company, in the acquisition of a majority stake in Lune Group Oy Ltd, a Finnish company that sells the Lunette menstrual cup. The acquisition allows Peptonic to grow and expand its product portfolio by enabling the merger of two strong women’s health and selfcare brands with several synergies. In addition, the acquisition gives Peptonic access to a global distribution network that is already up and running, including in the United States. Peptonic is listed on the Spotlight Stock Market in Stockholm, Sweden. Lune Group was founded in 2005 by CEO Heli Kurjanen and has earned its place as a top global menstrual cup company through its continued focus on quality, safety, sustainability and inclusivity. Lune Group Oy Ltd has a subsidiary in North America. The completion of the acquisition is subject to certain customary conditions and is expected to occur during June 2020.

18.5.2020

Danske Bank, Nordea and OP Financial Group – Sale of Automatia Pankkiautomaatit Oy

We are advising the banks in the sale of the shares of Automatia Pankkiautomaatit Oy to cash handling company Loomis AB. The banks have committed to new long-term service agreements and will continue to be significant customers of Automatia. As part of the transaction, it has been agreed that Nordea and OP will acquire the Siirto brand, which is currently owned by Automatia. Automatia operates and develops the Otto ATM network in Finland and offers nationwide cash supply services to banks. Loomis AB is a listed company specialising in cash handling, with operations in more than 20 different countries. In Finland, the company has ten offices and approximately 500 employees. The completion of the acquisition is subject to approvals by the relevant authorities, including the Finnish Competition and Consumer Authority.

2.3.2020

Gasum – Acquisition of Clean Energy and Marine Bunkering Businesses from Linde AG

We advised Gasum in its acquisition of AGA’s Clean Energy business and Nauticor’s Marine Bunkering business from Linde AG. The acquisition is part of Gasum’s strategy execution and further strengthens the company’s capacity to offer gas solutions to various customer segments in multiple locations and will enhance the development of the Nordic gas market. Together, the businesses employ 35 people and generate annual revenues of more than EUR 100 million. Several assets will be transferred to Gasum in the acquisition, including an LNG liquefaction plant, two LNG terminals, two LNG bunkering vessels, and 48 gas filling stations in Sweden and Norway. The deal was signed on 13 November 2019, and the transaction is anticipated to be completed during 2020.

14.11.2019

HANZA Holding AB – Acquisition of Toolfac

We acted as legal advisor to Swedish HANZA Holding AB (publ), listed on First North, in the acquisition of Toolfac Oy. Toolfac Oy is a high-tech Finnish manufacturer focusing on machining with a high degree of robotisation and have special expertise in hydraulic and pneumatic components as well as valve systems. Toolfac has about 60 employees and an annual turnover of approximately EUR 8 million. HANZA is a leading company in strategy and manufacturing of high-tech products. Founded in 2008, HANZA has over 1 650 employees, an annual revenue around 1.7 billion SEK and operates in Sweden, Finland, Estonia, Poland, Czech Republic and China. Toolfac Oy will be integrated into Hanza’s Finland cluster.

8.3.2019

Sellers – Sale of Fluido to Infosys

We advised the sellers in the sale of Fluido Oy, the leading Salesforce Partner in the Nordics, to global technology company Infosys. The sellers include CapMan Growth Fund. Fluido is the leading Salesforce Consultancy and Partner in the Nordics. Fluido’s customers include both large globally operating enterprises and growth companies across industries in all Nordic countries. Fluido is headquartered in Espoo, with offices also in Sweden, Norway, Denmark and Slovakia. Fluido employs approximately 250 employees.

17.10.2018

Sellers – Sale of Folksam Non-Life Insurance Company

We are advising Folksam Ömsesidig Sakförsäkring, Veritas Pension Insurance Company Ltd and Aktia Bank plc in the sale of Folksam Non-Life Insurance Company Ltd to Fennia Mutual Insurance Company. Folksam’s non-life insurance operations in Finland had approximately 200 employees at the end of 2017 and the premium income amounted to approximately SEK 750 million in 2017. The sale is subject to approval by the Finnish Financial Supervisory Authority and the Finnish Competition and Consumer Authority.

9.10.2018

Titanium – Acquisition of Investium Companies

We advised Titanium Oyj in a transaction in which it will acquire all the shares in Investium Group Ltd’s subsidiaries. The purchase price will be paid predominantly with Titanium’s shares, and the completion of the transaction is conditional upon, among others, approvals from the Finnish Financial Supervisory Authority and Titanium’s extraordinary general meeting. Investium Companies’ operations include Investium funds, securities brokerage, investment advice, insurance agent operations, life and non-life insurance brokerage and a legal services. In 2017, the turnover of Investium Companies amounted to approximately EUR 4.6 million and the result of the financial period to approximately EUR 0.2 million. Titanium is a growth company focusing on special investment funds investing in care properties and housing and asset management services. Titanium’s turnover in 2017 amounted to EUR 10.2 million and profit excluding group goodwill amortisations to EUR 6.1 million. Titanium’s shares are admitted to trading on the First North Finland trading facility maintained by Nasdaq Helsinki.

20.6.2018

Alandia – Sale of Accident and Travel Insurance Portfolio

We are advising Försäkringsaktiebolaget Alandia in the planned sale of its accident and travel insurance operations to Lähitapiola Etelärannikko Keskinäinen Vakuutusyhtiö. The sale of the portfolio is part of Alandia’s vision of strengthening its position as a leading European insurance company focusing on marine insurance. The completion of the sale is pending approval from the boards and general meetings of both companies and from the authorities.

18.4.2018

Delta Motor Group – Sale of Kia and Mitsubishi Import Business

We acted as the legal advisor to Delta Motor Group Oy in its sale of the Finnish import business of Kia and Mitsubishi cars to Bergé Auto Nordics Oy, a new company managed by Spanish Bergé Automoción SL. Delta Auto Oy will continue as the retailer for Kia and Mitsubishi. The transaction enables both parties focus on their core business. Full-service car dealer chain Delta Auto sells and services Kia, Mitsubishi, Mazda and Opel vehicles locally in its 20 dealerships as well as BMW vehicles in Delta Bavaria. Delta Auto is also one of Finland’s largest used car dealers. Delta Motor Group’s revenue in 2016 was EUR 543 million and it had around 560 employees. Bergé Automoción SL is a Spanish company established in 1870 and it is the leading importer of cars in Spain, Portugal and Latin America. The company represents 26 different car brands in seven different market areas. Bergé Automoción SL has been in the car industry since 1979 and has sold more than 2 million vehicles since then.

2.2.2018

United Bankers – Acquisition of Suomen Pankkiiriliike

We are advising United Bankers Plc in its acquisition of the entire share capital of Suomen Pankkiiriliike Oy. United Bankers will receive 100% of the shares in Suomen Pankkiiriliike in exchange for new shares in United Bankers to be issued to the sellers through a directed share issue. The completion of the transaction is subject to, among other things, the approval of the Finnish Financial Supervisory Authority and the resolutions of the extraordinary general meeting of United Bankers. Suomen Pankkiiriliike is a Finnish investment services group established in 1997. The group’s main services include investment advice and investment product brokerage services as well as asset management and organising emissions. Suomen Pankkiiriliike has four subsidiaries, SP Kapitaali Oy, SP Life Oy, SP Meklarit Oy and Joutsen Rahoitus Oy. The group employs over 70 people across Finland. In 2016, the group had a turnover of EUR 5.6 million and a profit of EUR 0.3 million. The assets managed by the group are over EUR 600 million (10/2017). United Bankers Plc is a Finnish investment group established in 1986. The group’s services include asset management, securities brokering, investment banking and fund management. The group employs 105 people (6/2017). In 2016, the group had a turnover of EUR 20.1 million and a profit of EUR 1.5 million. The group manages a total of approximately EUR 2.2 billion (6/2017). The company has been listed on First North Finland since November 2014.

12.12.2017

Danfoss – Acquisition of Visedo

We advised Danish company Danfoss A/S in its acquisition of Visedo Oy. Visedo is a Finnish manufacturer of smart hybrid and electric drivetrains for electric vehicles across the marine industry, commercial vehicle and heavy-duty machinery sectors. The acquisition is in line with Danfoss’ strategic focus on adding electric solutions as a key competency and a key part of the company’s approach to enable electrification across global businesses. Danfoss Group has 26,000 employees and serves customers in more than 100 countries.

2.11.2017

Alfred Berg Asset Management – Sale of Alfred Berg’s Finland entities to Elite Asset Management

We advised Alfred Berg Asset Management AB in a transaction in which Elite Asset Management Plc acquired Alfred Berg’s Finland entities, i.e. 100% of the shares in Alfred Berg Asset Management Ltd and Alfred Berg Funds Ltd. Alfred Berg Asset Management AB is BNP Paribas Asset Management’s subsidiary in the Nordic countries. The major part of the acquisition was paid by issuing Elite’s new shares to the seller, which became a major shareholder in Elite.

23.8.2017

Surfactor Germany – Acquisition of the Share Capital of Malesian L.P. Pacific Films

We advised Surfactor Germany GmbH in its acquisition of the entire share capital of L.P. Pacific Films Sdn. Bhd. from Kotkamills Oy. L.P. Pacific Films Sdn. Bhd. is a Malesia-based company that produces and sells phenolic resin impregnated papers to the Asian, Australian, South American and Middle Eastern markets. The acquisition gives Surfactor access to the strategically important Asia-Pacific and South American markets, considerably increasing the company’s growth potential. Surfactor Germany GmbH is a manufacturer of synthetic resin-impregnated surfaces for the plywood, furniture, transport and construction industries. Its parent company, the Kajo Neukirchen Group, is a German family-owned business specialising in investments in companies, real estate and forestry.

21.12.2016

Latest references

Get to know our other experts in the field

Search from the site.