Jan Örndahl

Valio – Acquisition of the Härkis® and Beanit® fava bean brands

We advised Valio Oy in its acquisition of Raisio Oyj’s plant protein business, related fixed assets and the Härkis® and Beanit® fava bean brands. The fixed assets include, among other things, the production equipment of the factory that makes plant protein products in Kauhava. The transaction supports Valio’s strategy to grow from a dairy company to a food company. This business acquisition will make us an even more significant developer and producer of plant-based protein products. The demand for these products will grow in the long term, and a great deal of growth potential still remains. In 2022, we acquired the Gold&Green® business and, since then, we have been carrying out strong product development and renewed the brand. Following successful product launches, sales in the last quarter of 2024 increased by about 50% from the previous quarter. With this acquisition, we are building our own production capacity. The production equipment of the Kauhava factory is just right for our needs and situation. says Kimmo Luoma, Valio’s Senior Vice President. Valio is a Finnish dairy and food company founded in 1905 and owned by Finnish dairy cooperatives. Valio has subsidiaries in Sweden, Estonia, the United States and China. In 2023, the Group had a turnover of EUR 2 278 million and more than 4 000 employees.

14.2.2025

WithSecure – Sale of cyber security consulting business

We advised WithSecure Corporation in the sale of its cybersecurity consulting business to Neqst. WithSecure is a global cyber security company (listed on NASDAQ OMX Helsinki). Neqst is a Swedish investment firm, focusing on technology companies. The closing of the transaction remains subject to customary conditions and regulatory approvals.

24.1.2025

Hanza AB – Acquisition of Leden Group

We acted 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.

13.12.2024

Helkama-Autokauppa – Acquisition of Škoda Dealerships in Helsinki and Tampere

We advised Helkama-Autokauppa Oy in the acquisition of the Škoda dealerships in Helsinki and Tampere from Hedin Automotive Finland. Helkama-Autokauppa Oy operates as an independent dealer in the dealer network of Helkama-Auto Oy, the Finnish importer of Škoda cars, spare parts and accessories.

3.12.2024

WithSecure – Sale of open source data collection product and business

We advised WithSecure Oyj in the sale of its open source data collection product and business to Patria Oyj. The divested business combining software and services falls outside WithSecure’s current strategy. Through the sale, WithSecure sharpens its focus on the Elements portfolio. WithSecure is a global cyber security company (listed on NASDAQ OMX Helsinki) with more than 35 years of industry experience. WithSecure offers partners flexible commercial models, ensuring mutual success across the dynamic cyber security landscape. Patria is an international company in the defence and security industry offering defence, security and aviation life cycle support services and technology solutions. As a result of the transaction, Patria will open a new office in Oulu and 10 WithSecure experts currently working in the business area will join Patria.

30.9.2024

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.

13.6.2024

Oddlygood and Valio – Acquisition of Planti

We advised Valio and Oddlygood in their acquisition of the Nordic brand and business Planti. Through the acquisition, Oddlygood becomes the owner of the Planti products and brand, as well as related intellectual property rights. Oddlygood becomes the market leader in plant-based dairy alternative spoonable snacks in Sweden and dairy alternative cooking products in Finland. Simultaneously, Oddlygood’s majority owner Valio acquires Planti’s production in Turku, including the employees at the site. Until the acquisition, the Planti brand was part of the Norwegian Kavli Group.

3.10.2023

Sodexo – Sale of Epassi

We advised Sodexo in connection with the sale of its minority shareholding in Epassi Group Oy, alongside the majority shareholder Bregal Milestone and other minority shareholders, to TA Associates and Warburg Pincus. Epassi is a market leader in the provision of employee benefits within the Nordics, the UK and Italy. The unique solution combines all benefits under one mobile application allowing the employees to easily access their employee benefits. Epassi has over 13 million users. Sodexo is a French food services and facilities management company. Sodexo Benefits & Reward Services, recently rebranded as Pluxee, offers employee and health related services and benefits within the meal & food segment to help employers attract, retain, and motivate talents. With vast knowledge and insights of the value of employees’ wellbeing, Pluxee creates and develops innovative solutions for a sustainable and attractive workplace for small businesses as well as for listed and multinational companies.

11.8.2023

Kiwa Inspecta – Sale of real estate laboratory business

We advised Kiwa Inspecta (Inspecta Oy) in the sale of its real estate laboratory business to Eurofins bestLab Oy. This business was divested due to the Kiwa Group’s strategy and growth objectives that are at the core of its testing, inspection and certification (TIC) business. Kiwa is one of the world’s leading testing, inspection and certification companies with operations in over 35 countries. The Group offers inspection, testing and auditing services supplemented by training and technical consultancy services as well as digital solutions. Eurofins is one of the leading operators of commercial testing and laboratory services in the world.

4.7.2023

Kiwa Inspecta – Sale of inspection and consulting services for real estate and construction

We advised Kiwa Inspecta (Inspecta Oy) in the sale of its business of real estate and structure inspection and consultancy to Caverion Suomi Oy. This business was divested due to the Kiwa Group’s strategy and growth objectives that are at the core of its testing, inspection and certification (TIC) business. Kiwa is one of the world’s leading testing, inspection and certification companies with operations in over 35 countries. Kiwa offers inspection, testing and auditing services supplemented by training and technical consultancy services as well as digital solutions. Caverion is an expert for smart and sustainable built environments. Caverion’s shares are listed on Nasdaq Helsinki.

4.7.2023

Valio and C&S – Sustainable everyday life is created through bold reforms

Valio is a food company with the courage to change with the times. Valio’s road to growth and towards the innovative transformation of the food industry is supported by its long-standing business law partner, Castrén & Snellman. Juha Hölttä became Valio’s General Counsel at a time when the company kicked its new strategy into a higher gear. ‘In the past two years we have made several significant market initiatives and expanded our business from food production to other areas of the value chain. By acquiring Heinon Tukku, we now provide a new kind of added value to restaurants and professional kitchens through our Valio Aimo ® wholesale business. And our joint venture with St1, Suomen Lantakaasu Oy, will enable us to reach our goal of turning manure into biogas for heavy transportation,’ Hölttä describes some of the milestones of the new strategy. In addition to expanding into new business areas, Valio continues to build a more sustainable dairy business alongside seeking international growth from plant-based products. Valio has invested in the international growth of its Oddlygood ® brand through incorporation and gained additional product development expertise through the acquisition of Gold&Green. Carbon footprint of milk reduced by new business operations Dairy products are at the core of Valio’s business, and the company develops this strong foundation not only through product innovation but also at the beginning of the food chain. ‘Who could have foreseen that dairy farm manure could become one way of tackling climate challenges? Our planned biogas plants will use manure and agricultural by-products to produce renewable liquefied biogas for use as transportation fuel,’ says Hölttä. ‘Valio is aiming for a carbon-neutral milk chain by 2035. We are making major reforms in our operations in order to make this happen.’ The sustainability programme for Valio’s 3,700 dairy farms has been expanded, and it now includes the preventive and systematic healthcare of cows as well as actions related to grazing, the climate and biodiversity. ‘Appreciation for locally produced food is on the rise, which means that sustainability questions are local as well. This is a good trend, as it makes it easier for us to make a difference.’ ‘Strategic help even in difficult circumstances’ The service-mindedness of lawyers is key in implementing a growth strategy. Castrén & Snellman Attorneys is a long-standing partner of Valio, and the relationship between the two is tight. ‘At Valio, we are always exploring new business opportunities, and us lawyers are tasked with assessing these opportunities. My philosophy as the General Counsel is that my door is always open. Together we can evaluate how to solve and implement new initiatives. In this job, you must be curious, broad-minded and business-oriented,’ summarises Hölttä. Hölttä’s legal team of five people is supported by experts from Castrén & Snellman. The key to successful partnership is that both parties are familiar with each other’s business operations and ways of working. ‘Castrén & Snellman knows us well, and they maintain an up-to-date overview of our situation, which I highly appreciate. It means that we are able to tackle tricky situations together quickly even in difficult circumstances.’ A joint fast reaction was needed, for example, when Valio exited the Russian market after the country launched its war of aggression on Ukraine. ‘The responsible thing was to leave quickly but in a controlled manner and by repatriating our investment as opposed to leaving an operational food production facility in the hands of a country that was waging war.’ A shared vision of sustainability Valio – Together we make life better A Finnish food company Approx. 4,600 employees Owned by 13 Finnish dairy cooperatives Finland’s most sustainable brand in the Sustainable Brand Index study Read more about sustainability at Valio Castrén & Snellman – Building sustainable success stories Forerunner of demanding legal services 300 employees Owned by its partners ‘We help our clients build sustainable success stories and achieve their sustainability goals.’ Read more about sustainability at Castrén & Snellman Shared success stories of Valio and C&S Global Brand Portfolio Management and IP Enforcement Purchase of Gold&Green’s Brand, IPR and R&D Function Joint Venture for Biogas Production with St1 Sale of Russian Operations Acquisition of Heinon Tukku Significant Growth Funding Round Competition Damages Case Defending Against Environmental Permit Challenge at the Appellate Level

4.5.2023

Delta Motor Group – Sale of Delta Auto

We are advising Delta Motor Group Oy in the sale of all shares in Delta Auto Oy as well as the operative business of Delta Motor Group Oy to Hedin Automotive Oy. The transaction comprises all of Delta’s car business activities, including sales of new and used cars, aftermarket services and spare parts, as well as automotive support functions. The Delta group had revenues of MEUR 322 in 2022, and the group has 315 employees. The group sells approximately 13,000 cars annually, of which 4,500 are new and 8,500 are used ones. Delta Auto represents nine brands: Alfa Romeo, Fiat, Jeep, Kia, Maxus, Mazda, Mitsubishi, Opel and Subaru. The completion of the transaction, conditional on regulatory approval, is expected to take place in the second half of 2023.

28.4.2023

Triton-backed Geia Food – Acquisition of Topfoods companies

We acted as the Finnish legal advisor for Geia Food, a portfolio company of Triton Smaller Mid-Cap Fund II, in its acquisition of Topfoods Finland Oy and TFR Topfoods Retailing Oy. With this acquisition , Geia Food is expanding its footprint in the Nordics and expands on the Finnish foodservice and industrial product market. Geia Food is the leading supplier of food concepts in Scandinavia with approximately 120 employees and has offices in Denmark, Sweden, Norway and Finland. Since its establishment in 1997, Triton has sponsored ten funds, focusing on businesses in the industrial tech, services, consumer , and healthcare sectors. The companies currently in Triton’s portfolio have combined sales of around EUR 18 billion and employ around 105,000 employees. Triton Smaller Mid-Cap Fund II applies Triton’s proven investment strategy to lower mid-market companies in the same core sectors of Services, Healthcare, Industrial Tech and Consumer, using Triton’s in-house operational capabilities and resources to help management teams to sustainably expand their companies’ market position and to implement their growth strategies. Topfoods companies have an annual turnover of approximately 30 million EUR and employ a total of 15 employees.

26.4.2023

Triton – Platform investment and formation of Habeo Group

We advised Triton Smaller Mid-Cap Fund II in a new platform investment, the formation of Habeo Group, through its acquisition and financing of eight Finnish companies. After the acquisition, Habeo Group has approximately MEUR 120 in net sales with over 600 experts providing a variety of technical building services, such as heating, plumbing and sewerage, ventilation and air conditioning, electrical works, cooling and refrigeration, fire safety and automation. In line with Habeo Group’s strategy, it has acquired successful, locally operating Finnish group companies and is now Finland’s fifth largest player in the industry. Habeo Group continues to implement its strategy through acquisitions that suit its service portfolio in Finland. The eight Habeo Group companies are the following: Afire Oy – A company that provides its clients with the best fire suppression solutions for different purposes in the market. ESP Group – A group of companies specialised in new building and repair construction, offering all HVAC, electricity and automation services reliably and skilfully. HSK Sähkö Oy – A versatile and flexible full-service electrical contractor operating in all of Finland. Neloset Group – A full-service technical building service and construction company providing housing cooperatives with construction and renovation services from a one-stop shop. Respect Group – A group that serves its clients seamlessly in all their repair construction needs. SFT Finntekniikka Oy – A refrigeration expert that provides comprehensive, high-quality service in refrigeration equipment and cooling systems. Sähkö Oy Turku and Helsinki – A group of electrical engineering companies with a large range of services including design, installation, on-site project supervision and subcontracting. Vaasan Kylmäkone Oy – A company that plans, sells, installs and maintains refrigeration equipment and systems for professional use. Since its establishment in 1997, Triton has sponsored ten funds, focusing on businesses in the industrial tech, services, consumer and healthcare sectors. The companies currently in Triton’s portfolio have combined sales of around EUR 18 billion and employ around 105,000 employees. Triton Smaller Mid-Cap Fund II applies Triton’s proven investment strategy to lower mid-market companies in the same core sectors of Services, Healthcare, Industrial Tech and Consumer, using Triton’s in-house operational capabilities and resources to help management teams to sustainably expand their companies’ market position and to implement their growth strategies.

21.4.2023

Schibsted – Acquisition of shares in AutoVex

We advised the Norwegian Schibsted group in a transaction where Schibsted Nordic Marketplaces purchased 79% of the share capital of AutoVex (Alltvex Oy) from its shareholders. AutoVex is the leading used car C2B auction marketplace in Finland, allowing consumers to conveniently get offers for their used car via a digitally managed auction directed exclusively towards car dealers. The company was founded in 2018 and currently employs around 20 people in Helsinki. Schibsted, listed on Oslo Børs, is a family of digital brands with a strong Nordic position and around 6,000 employees. Schibsted also already has several leading brands in its Motor vertical across the Nordics, including names such as FINN, Nettbil, Carweb and Honk in Norway, Bilbasen and DBA in Denmark and Blocket and Bytbil in Sweden. With the acquisition of AutoVex, Schibsted is building on its expertise and expanding its offering in Finland with a new concept. Further, the acquisition shows Schibsted’s commitment to continue to explore opportunities in the Finnish market and strengthens its marketplace position that is already established through Oikotie and Tori.fi with new verticals.

22.12.2022

CapMan Growth – Investment in Fennoa

We advised CapMan Growth in its investment in financial management software company Fennoa Oy. Fennoa Oy is a rapidly growing software company that develops and offers cloud-based financial administration solutions. The company’s turnover and profitability have increased tenfold over the past few years. Fennoa Oy was founded in 2014, and it employs 32 people and serves approximately 500 accounting firms, as well as tens of thousands of their client companies. CapMan Growth is a leading Finnish growth investor that makes significant minority investments in companies aiming for strong growth and internationalisation. CapMan Growth is part of CapMan, which is a leading Nordic capital investor engaged in active value creation. CapMan has been listed on the Helsinki Stock Exchange since 2001.

21.10.2022

Helkama-Auto – Acquisition of Škoda dealer business in Espoo

We advised Helkama-Auto Oy in the acquisition of the Škoda dealer business in Espoo from Hedin Automotive (formerly Veljekset Laakkonen Oy). Helkama-Auto Oy imports Škoda cars, spare parts and accessories to Finland. A network of independent Škoda dealers and service centres serves customers across Finland.

8.9.2022

CapMan Growth – Sale of Picosun

We advised CapMan Growth Equity Fund, a shareholder of Picosun Oy, in a transaction whereby CapMan Growth, together with the other shareholders, sold the entire share capital of Picosun to Applied Materials, Inc. Picosun, founded in 1997, is a Finnish leading provider of advanced ALD (Atomic Layer Deposition) thin film coating solutions for global industries and research organisations. CapMan Growth is a leading Finnish growth investor making significant minority investments in companies targeting strong growth and internationalisation. CapMan Growth is part of CapMan, a leading Nordic private asset expert with an active approach to value creation. It has over EUR 4.5 billion in assets under management. Applied Materials is a U.S. company listed on Nasdaq. It is the leader in materials engineering solutions used to produce virtually every new chip and advanced display in the world.

20.6.2022

Metsä Fibre – Botnia Mill Service’s Ownership Arrangement

We are advising Metsä Fibre Oy, part of Metsä Group, on an arrangement whereby Metsä Fibre Oy will take over the maintenance operations of its pulp mills and the Rauma sawmill as well as the related workshop and design services. The maintenance of the company’s pulp mills and the Rauma sawmill has been outsourced to the maintenance company Oy Botnia Mill Service Ab, which is jointly owned by Metsä Fibre Oy and Caverion Industria Oy. In connection with the change, Metsä Fibre will sell its Botnia Mill Service shares to Caverion. The purchase price is not disclosed. Botnia Mill Service personnel who work at Metsä Fibre’s pulp mills, the Rauma sawmill, and administration and support functions will transfer to the service of Metsä Fibre starting from 1 January 2023. The transaction will be carried out as a business transfer planned to take effect at the end of the year 2022. Metsä Fibre is a leading producer of bioproducts, biochemicals and bioenergy. It is the world’s largest producer of softwood market pulp and a globally significant manufacturer of sawn timber. In 2021 Metsä Fibre’s sales totalled approximately EUR 2.6 billion, and it has around 1,400 employees. Caverion provides design & build to projects, technical and industrial maintenance, facility management as well as advisory services. Caverion provides best solutions to improve the energy efficiency of buildings, and responsibility and sustainable development guide its operations.

20.5.2022

Valio – Joint Venture for Biogas Production with St1

We advised Valio when it established Suomen Lantakaasu Oy, a joint venture, together with St1. The purpose of the joint venture is to produce renewable biogas as transport fuel using dairy farm manure and agricultural by-products. Suomen Lantakaasu Oy aims to build 8–10 production plants for biogas production and liquefaction by 2030. The company aims to produce a total of 1 TWh of renewable transport fuel, which corresponds to a quarter of the biogas need for Finland’s roadmap to fossil-free transport. St1 will distribute the biogas through its own nationwide network of fuelling stations for heavy-duty vehicles. A prerequisite for the biogas production investment is improving the profitability of the entire biogas value chain and particularly more widespread use of a biogas-powered transport fleet. The joint venture uniquely links the entire value chain, from the network of farmers to biogas production, liquefaction and distribution. Biogas produced from manure creates significant climate benefits and strengthens Finland’s energy and fuel self-sufficiency. Suomen Lantakaasu Oy is a company owned in equal shares by the energy company St1 and the food company Valio. St1’s responsibilities include technical and project planning and the distribution of the final product. Valio is responsible for the procurement of feeds and the planning of raw material logistics. 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. St1 is a Finnish energy company and part of the St1 Nordic Group. The Group investigates and develops financially profitable and environmentally sustainable energy solutions. St1 focuses on marketing liquid fuels, oil refining and renewable energy solutions, such as advanced biofuels and industrial wind power. The Group has in total 1,250 St1 and Shell petrol stations in Finland, Sweden and Norway.

11.3.2022

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

F-Secure – Proposed separation of F-Secure’s Consumer Security business through a partial demerger

We act as legal advisor to F-Secure Corporation in the proposed separation of F-Secure’s Consumer Security business through a partial demerger. It is planned that the Consumer Security business will be transferred into a new independent company, to be named F-Secure Corporation and established in connection with the demerger, and which will be listed on the official list of Nasdaq Helsinki Ltd. The demerger is expected to become effective as of 30 June 2022. In connection with the demerger, F-Secure Corporation will retain its Corporate Security business, which is planned to be renamed as WithSecure Corporation. F-Secure Corporation (listed on the NASDAQ OMX Helsinki) is a global cyber security and privacy company with over 30 offices around the world and is headquartered in Helsinki, Finland.

17.2.2022

Valio and Oddlygood Global – Significant Growth Funding Round

We are advising Valio, one of Finland’s premier food companies with more than a century of product development experience, and its subsidiary Oddlygood Global (OGG) in relation to OGG’s first round of financing. OGG will be receiving a EUR 25 million investment into the company from Mandatum Asset Management. Valio will continue as OGG’s majority shareholder after the investment. OGG develops and markets plant-based products under the Oddlygood™ brand, including oat drinks for coffee and products used in cooking and baking. The sales of Oddlygood™ products have doubled each year and OGG’s global growth potential is even larger. Currently, Oddlygood™ products are sold in Finland and Sweden, as well as the UK, USA, Russia and the Baltic countries. Mandatum Asset Management (MAM PE) is a Finnish private equity investor focusing on significant minority investments in Nordic growth companies with proven business models. As an active owner with an experienced investment team, MAM PE can provide OGG with more strategic expertise in global consumer products and further support its growth in international markets. Through its investment, MAM PE will become a minority shareholder in OGG. Valio is a Finnish dairy and food group founded in 1905 and is owned by Finnish regional dairy co-operatives. Valio has subsidiaries in Russia, Sweden, the Baltics, the USA and China. It had net sales of EUR 1,787 million in 2019 and employs over 4,000 professionals.

17.12.2021

Metsä Board – Sale of Hangö Stevedoring

We are advising Metsä Board Corporation in the sale of the entire share capital of its fully owned subsidiary Oy Hangö Stevedoring Ab to Euroports Finland Oy. Hangö Stevedoring is a port operator in the Port of Hanko and its business is not part of Metsä Board’s core business. The company has approximately 180 employees and its sales in 2020 were approximately EUR 20 million. Metsä Board is a leading European producer of premium fresh fibre paperboards. Metsä Board focuses on lightweight and high-quality folding boxboards, food service boards and white kraftliners. Metsä Board is the forerunner in sustainability, and they aim to have completely fossil free mills and raw materials by 2030. In 2020, Metsä Board’s sales totalled EUR 1.9 billion, and they have around 2,400 employees. Metsä Board, part of Metsä Group, is listed on the Nasdaq Helsinki. Euroports Finland Oy is Finland’s leading full-service port operator, which offers a range of value-added services. Euroports Finland is part of the international Euroports Group, which operates in 32 terminals and logistic platforms globally and has a workforce of about 3,000 employees. The transaction is expected to be completed in the first quarter of 2022.

17.12.2021

HOK-Elanto – Sale of Kodin Terra Tuusula

We are assisting HOK-Elanto in the sale of the business operations of Kodin Terra Tuusula to Stark Suomi Oy. In connection with the sale, Stark and HOK-Elanto also entered into a local bonuspartner agreement. The personnel working at Kodin Terra Tuusula will transfer to Stark at the closing of the deal. ‘HOK-Elanto has been looking at alternatives for developing hardware store services in the Helsinki Metropolitan Area for a long time. The sale of Kodin Terra Tuusula and local bonuspartner agreement will enable us to provide our customer-owners an even more extensive offering for construction in our entire operating area. Moving forward in line with its strategy, HOK-Elanto will focus primarily on the development of food and drink services both in brick-and-mortar locations and online in the Helsinki Metropolitan Area. Everyone at Kodin Terra Tuusula has done great work, and I would like to thank them for their efforts’, says HOK-Elanto’s CEO Veli-Matti Liimatainen. HOK-Elanto is one of the largest regional cooperatives in the S Group. HOK-Elanto operates approximately 340 locations and employs approximately 6,000 people. Stark Suomi Oy is Finland’s leading building materials supplier chain for professionals and has long-term expertise of the construction sector in Finland. Stark Suomi Oy is part of the Danish Stark Group, which dates back to 1868. Stark Suomi Oy employs approximately 1,000 people, and Stark Group approximately 10,000 people in Northern Europe.

3.11.2021

ALS Finland – Acquisition of AHA-LAB

We assisted ALS Finland Oy in its acquisition of the entire share capital of asbestos and harmful substance laboratory AHA-LAB Oy. The acquisition strengthens multinational ALS Laboratory Group’s position as a provider of analytics services in Finland. AHA-LAB was founded in 2014 in Espoo, Finland. The company specialises in laboratory analytics for the construction, housing health and environmental fields, and the company has developed from a small start-up to a respected expert organisation in its field. ALS Finland Oy is part of the international ALS Laboratory Group, which has locations on six continents and employs over 15,000 people. In Finland, ALS’ business has to date primarily focused on the analytics for the extractive industry and environmental field. Through acquisitions, ALS is strengthening its analytics services for the built environment. This acquisition expands both ALS’ and AHA-LAB’s analytics portfolio significantly and enables improved and more efficient customer service with a wider service offering.

3.9.2021

Valio – Acquisition of Heinon Tukku

We advised Valio in the purchase of all the shares of Heinon Tukku Oy from Tukkuheino Oy and other shareholders. The acquisition is part of Valio’s aim to be a more comprehensive partner to restaurant and coffee shop professionals. In the future, Valio will be a single-source supplier of everything a professional kitchen needs, providing not only an extensive selection of raw materials, but also support in product development and in creating meal and snack concepts. ‘Acquiring Heinon Tukku is a natural step that aligns with our strategy. Our goal is to be a front runner in food sector solutions, and Heinon Tukku’s know-how and broad product portfolio will bring a significant addition to this. We also share a similar set of values. Heinon Tukku is a traditional family-owned company, and Valio’s owners, in turn, are Finnish dairy farmers’, says Tuomas Sorri , who is the head of the new business unit created by the acquisition. Valio is a Finnish dairy and food group founded in 1905 and is owned by Finnish regional dairy co-operatives. Valio has subsidiaries in Russia, Sweden, the Baltics, the USA and China. It had net sales of EUR 1,787 million in 2019 and employs over 4,000 professionals. Heinon Tukku Oy has been in business for over 120 years and is today one of Finland’s largest wholesalers serving professional kitchens. Heinon Tukku’s turnover in 2020 was about EUR 170 million. About 340 employees will transfer to Valio through the acquisition. The transaction was approved by the Finnish Competition and Consumer Authority in June 2021.

1.7.2021

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

Sodexo – Sale of Sodexo Benefits & Rewards Services’ Business in Nordics

We advised Sodexo when it sold its Sodexo Benefits & Rewards Services’ (BRS) business in the Nordics to ePassi Payments. The sale included Sodexo Pass Sweden and the Finnish company Eazybreak Oy. Bregal Milestone remains the majority shareholder of ePassi Payments Oy. As part of this transaction, Sodexo will reinvest and become a 15% shareholder of ePassi. Eazybreak is a fast-growing company founded in 2009. The service automates the administration, payment and invoicing of a company’s employee benefits for employees and merchants alike. Sodexo Benefits & Rewards Services (BRS) in Sweden offers employee and health related services and benefits within the meal & food segment to help employers attract, retain, and motivate talents. With vast knowledge and insights of the value of employees’ well-being, BRS creates and develops innovative solutions for a sustainable and attractive workplace for small businesses as well as for listed and multinational companies. Founded in 2007 in Helsinki, Finland, ePassi Payments Oy is the leader in account-to-account mobile payments for employee benefits. The unique solution combines all benefits under one mobile application. ePassi now serves over 35,000 affiliated merchants, close to 9,000 employers and nearly 1.5 million employees. Bregal Milestone is a European technology growth capital firm dedicated to making investments in ambitious, high-growth technology companies. The firm provides growth capital and strategic assistance to support market-leading companies in the technology and technology-enabled services sectors. Bregal Milestone is part of Bregal Investments, who have invested over €15 billion to date.

12.3.2021

Bulevardin Klinikka – Sale of Share Capital

We assisted Bulevardin klinikka Oy’s shareholders in the sale of the company’s shares to Mehiläinen. Bulevardin klinikka is a private health clinic and hospital that offers high-quality medical care in the heart of Helsinki. The clinic employs over 80 healthcare professionals and is a major operator, particularly in the fields of plastic surgery and orthopaedics. The clinic also provides gynaecological and dermatologic surgery services and a wide variety of imaging services. Bulevardin klinikka was founded in 1986 and is an established and important part of the private hospital field in Helsinki. Mehiläinen brings the clinic’s customers extensive digital services, among other things. Mehiläinen Oy was founded in 1909 and provides private healthcare services at over 500 locations across Finland.

4.3.2021

Tesi and C&S – Together Towards More Sustainable Investing

Tesi expects sustainability from its investment targets. Castrén & Snellman helps Tesi achieve its sustainability goals. It is increasingly important for law firms to be able to support their clients’ sustainability work. One good example is the long-term collaboration between Tesi, or Finnish Industry Investment Ltd, and Castrén & Snellman, in which sustainability has grown in significance year by year. ‘We expect our partners to help us achieve our sustainability goals. To do that, they need expertise in and insight into sustainability issues and the developing regulatory environment’, said Heli Kerminen , a director at Tesi. Kerminen is responsible for developing the sustainability and impact of Tesi’s investment activities. Among other projects, C&S advised Tesi when it participated in Swappie’s 35-million-euro investment round last year. Swappie refurbishes and sells recycled phones. Its goal is to operate in 18 countries by 2023. Investments Totalling 250 Million Euros in 2020 Tesi is a Finnish is a state-owned investment company investing in venture capital and private equity funds and directly in growth companies. In 2020, Tesi invested a total of 250 million euros. Investments into nine private equity funds made up 82 million of that sum, and 39 million euros were invested into 20 growth companies. In addition, Tesi gave a 65-million-euro investment commitment to the KRR IV fund-of-funds, which it manages, and invested a total of 63 million euros into 24 companies through its COVID-19 stabilisation programme and Venture Bridge programme. Tesi was founded in 1995. Kerminen divides the company’s history into three stages: the first stage focused on building the Finnish venture capital and private equity market, the second on internationalisation and the third began in 2019 with a new strategy that shifted the focus onto social impact. ‘Sustainability is one of our key operating principles and an integral part of our investment and decision-making processes. We encourage companies to grow sustainably by sharing information and expertise with them’, Kerminen said. ‘We believe that Finnish companies have a key role to play in finding sustainable solutions to global challenges.’ A Circular Economy Programme to Promote Sustainable Growth Sustainability can be seen in many parts of Tesi’s operations. Based on the work Tesi has done with the Finnish Innovation Fund Sitra, Tesi created a circular economy programme, which is an investment programme focused on responsible and sustainable growth. The goal of the programme is to promote the circular economy, support the growth and internationalisation of target companies and promote impact investing. Tesi has dedicated 75 million euros to the programme. Tesi’s core mission is to support the growth and internationalisation of companies. Tesi’s mission is also to highlight and promote sustainable investing. ‘We look at the impacts that our investments have on the environment and on society. Profit is not enough for Tesi, we expect investment targets to operate sustainably and to have a positive impact on society’, Kerminen said. Tesi also encourages its portfolio companies to develop sustainable products, services and business models. ‘A great example of a sustainable business model that is going global is Swappie. Swappie sells refurbished smartphones. This reduces harmful environmental impacts by extending the lifecycle of smartphones and also provides social benefits by putting affordable phones on the market’, Kerminen said. Tesi’s and C&S’s shared journey promoting sustainable investing 2020 Establishment of Stabilisation Program for Mid-sized Companies Investment in Varjo Technologies Investment in Swappie 2019 Investment in Endev Investment in Oura Health 2018 Sale of IonPhasE to Croda International Investment in Nosto Solutions Investment in Zervant 2017 Investment in BC Platforms AG Group Co-investment in Midaxo 2016 Co-investment in OptoFidelity Co-investment in Verto Analytics 2015 Co-investment in in Rauma Marine Constructions 2014 Acquisition of Meyer Turku (formerly STX Finland)

10.2.2021

Cargotec – Contemplated Merger

We acted as advisor to Cargotec, a leading Finnish provider of cargo and load handling solutions, in a contemplated merger with Konecranes, a Finnish world-leading group of lifting equipment and solutions. The aim of the future company would have been to be a leader in sustainable material flow with a vision based on decarbonisation, safety, productivity and efficiency as well as maximizing the lifetime value of the equipment and solutions of its customers. Cargotec and Konecranes entered into a combination agreement on 1 October 2020. The completion of the merger was subject to the fulfilment of customary conditions precedent, including obtaining merger control approvals. On 29 March 2022 Cargotec and Konecranes jointly decided to cancel the planned merger. The reason for this decision was that the UK Competition & Markets Authority (CMA) blocked the merger. Prior to the cancellation, Cargotec and Konecranes had obtained clearances for the planned merger from numerous competition authorities, among others a conditional approval by the European Commission.

2.10.2020

IMCD Group – Acquisition of Kokko-Fiber

We assisted the Dutch IMCD group in a transaction where IMCD Finland Oy purchased the entire share capital of Oy Kokko-Fiber Ab from its shareholders. IMCD is a global market-leader in the sales, marketing and distribution of speciality chemicals and food ingredients. IMCD is listed on the Euronext, Amsterdam stock exchange and it realised revenues of EUR 2,7 million in 2019. IMCD employs nearly 3,000 workers in over 50 countries. Oy Kokko-Fiber Ab is the leading Finnish family-owned supplier of fiber-reinforced plastic composite materials. The company was founded in 1994. The company serves a very broad customer base, which includes many of the largest Finnish companies that use fiber-reinforced plastic composites in their operation, e.g. the marine industry.

21.9.2020

Schibsted – Acquisition of Oikotie

We assisted the Norwegian Schibsted group in a transaction where Schibsted Nordic Marketplaces AS purchased the entire share capital of Oikotie Ltd from the Sanoma media group at an enterprise value of EUR 185 million. Oikotie has the leading Finnish online classifieds marketplaces in recruiting and housing, as well as sites focused on construction and renovation (rakentaja.fi) and electricity comparison (sahkovertailu.fi). Schibsted is one of the leading media groups in the Nordics, and has owned Tori.fi for over a decade. The acquisition of Oikotie will enable Schibsted to widen their scope on the Finnish online market and show their long-term commitment to the Finnish market. Together, Tori and Oikotie will be a leading player within online marketplaces in Finland, reaching over 44 million monthly visits. Oikotie and Tori will continue as independent brands, working closely together as a combined organisation under Schibsted Marketplaces Finland.

17.7.2020

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

Addtech – Acquisition of Elkome Group Oy

We advised Addtech Group in the acquisition of all shares outstanding in Elkome Group Oy. Elkome Group includes Elkome Group Oy and its subsidiaries Elkome Systems Oy, Elkome Installaatiot Oy, and Elkome Software Oy. The sale and purchase agreement was signed on 5 March 2020, and the acquisition was closed on 1 April 2020. Addtech is a Swedish technology trading group that provides technological and economic value added in the link between manufacturers and customers. Its customers primarily operate in the manufacturing industry and public sector. Addtech has about 2,900 employees in more than 130 subsidiaries that operate under their own brands. The Group has annual sales of about SEK 11 billion. Addtech is listed on the Nasdaq Stockholm. Elkome develops, integrates and delivers solutions for applications in industrial IoT primarily for industrial production, smart cities and infrastructure. Elkome’s offering includes customised computer systems, test systems, info kiosks, software, sensors and industrial communication. Elkome has 38 employees and sales of approximately EUR 8 million.

20.4.2020

Avesco – Purchase of Caterpillar and Sitech Businesses

We are the legal advisors to Avesco AG from Switzerland in a business purchase in which Avesco purchases Wihuri Oy’s Finnish importing and retailing businesses of the Caterpillar and Sitech brands. The plan is for the businesses to transfer to Avesco on 1 January 2020. In Finland, Avesco plans to focus on representing the Caterpillar and Sitech brands, and approximately 240 employees will transfer to Avesco as existing employees through the business purchase. Avesco AG is a Swiss company that is part of the family-owned Ammann Group, which was established in 1869 and employs over 3,000 people. Among other things, Avesco sells, leases and services construction and energy production machinery. Avesco purchased Caterpillar’s Baltic operations from Wihuri in 2016, and Avesco also represents the Caterpillar brand in Switzerland. Wihuri is a global Finnish industry and trade conglomerate engaged in packaging, daily goods wholesale, technical trade and aviation. Wihuri Group employs 5,000 people and operates in 30 countries. Caterpillar is part of Wihuri’s Technical Trade division, which operates under Wihuri Oy. Wihuri has operated for over a century and has been Caterpillar’s importer and retailer for over 70 years.

7.11.2019

Shareholders of iLOQ – Sale of Share Capital

We advised the shareholders of iLOQ Oy in the sale of iLOQ’s shares to funds managed by Nordic Capital. The purchase price for iLOQ’s entire share capital was EUR 190 million. The transaction is pending on competition authority approval, and is expected to be completed by the end of 2019. iLOQ develops, manufactures and markets innovative, high-security electronic locking solutions. iLOQ is a rapidly growing, highly profitable company with a turnover of EUR 50.2 million, an operating margin of EUR 9.5 million, a profit of EUR 8.3 million and a result of EUR 6.5 million in 2018. The company employs approximately 130 people. Nordic Capital is a private equity investor focused mainly on the Nordics and Europe. Since inception in 1989, Nordic Capital has invested more than EUR 14 billion through its nine funds.

17.10.2019

NoHo Partners – Combination of Smile and VMP

We acted as the legal advisor to NoHo Partners Plc and Smile Henkilöstöpalvelut Oyj in a transaction in which VMP Plc is purchasing the share capital of Smile from NoHo Partners and the minority shareholders. The transaction will be executed as a share exchange, in which Smile’s shareholders will receive 0.8087 new shares in VMP as share consideration for each share in Smile owned by them, corresponding to a debt-free purchase price of approximately EUR 82 million (based on the closing price EUR 4.92 of VMP as at 4 July, 2019). NoHo Partners will become the largest shareholder in the combined VMP and Smile with a 30.27% stake. VMP employed approximately 19,400 leased employees in 2018 either directly or through chain companies and Smile, in turn, approximately 10,000 leased employees, so the combined company has a significant pool of employees at its disposal. The combination of VMP and Smile is expected to strengthen the combined company’s market position considerably and to create added value both for NoHo Partner’s and the combined company’s shareholders through synergies arising from unifying operations and the increasing amount of business opportunities. ‘We have been building the exceptional Smile growth story on this market since 2014, when the company became a part of our group. Back then, Smile’s turnover was under MEUR 7, whereas it had grown to MEUR 127 in 2018. The new company to be formed with one of the other top companies in the business, VMP, will reshape the labour market and personnel services business in general. As the company’s largest shareholder, we are privileged to be in pole position in building the future of the entire business’, said NoHo Partners’ Chairman of the Board Timo Laine.

8.7.2019

Roof Productions – Sale of Company to Tapaus

We advised the shareholders of Roof Productions Oy in the sale of Roof Productions Oy to event management firm Tapaus. In connection with the transaction, Finnish private equity investor MB Funds becomes a majority shareholder in Tapaus. Roof Productions is a brand activation agency employing 20 persons in Finland. The transaction is subject to regulatory approval, and the closing is expected to take place during Q3 2019.

13.6.2019

Luhta – Acquisition of Balmuir

We advised Polap-Team Oy in the acquisition of Wheslyn Group Oy, the owner of the lifestyle and fashion brand Balmuir. The transaction included all of the shares in the company and Balmuir will keep on functioning as an independent subsidiary of Polap-Team Oy. Polap-Team Oy is the parent company of the Finnish L-Fashion Group from Lahti, Finland. L-Fashion Group is the largest Nordic apparel company and it owns, among other things, the Luhta and Icepeak brands. Balmuir is a rapidly growing lifestyle and fashion brand offering fashion accessories and interior decoration items. The acquisition supports the growth strategy of Balmuir and strengthens its international operation. ‘ We have strong faith in the future growth potential of Balmuir domestically as well as abroad. Balmuir has its strengths in high-quality fashion accessories, home textiles and gift items. Our goal is to develop the company towards international growth ’, says the CEO of Polap-Team Oy Tiina Luhtanen.

10.5.2019

Bregal Milestone – Strategic Investment

We acted as the Finnish counsel for Bregal Milestone in connection with a strategic investment whereby a fund advised by Bregal Milestone granted a loan totalling EUR 50 million to Basware Corporation and subscribed for warrants convertible into shares in Basware representing in total a fully diluted shareholding of approximately 6.5% in the company. Bregal Milestone is the investment adviser to a EUR 400 million fund dedicated to making investments primarily in Europe. It provides non-control capital and strategic assistance to leading growth companies. Basware offers the largest open business network in the world and is the global leader in providing networked purchase-to-pay solutions, e-invoicing and innovative financing services. It is traded on Nasdaq Helsinki.

21.3.2019

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

LänsiAuto – Acquisition of Opel Finland and the Baltic Opel import business

We acted as the legal advisor to LänsiAuto Oy in a transaction in which LänsiAuto became Opel group’s wholesale importer in Finland and the Baltics (Estonia, Latvia and Lithuania) by acquiring Opel group’s Finnish sales company Opel Finland Oy and the Baltic Opel import business which was transferred to Opel Finland Oy in connection with the transaction. The transaction was approved by the Finnish Competition and Consumer Authority on 22 October 2018. The name of Opel Finland Oy has been changed to LänsiAuto Drive Oy. LänsiAuto is a growing and developing automotive group that offers car sales, repair, leasing and rental services. The group’s business has grown strongly in recent years: in 2019 its net sales will exceed EUR 400 million. LänsiAuto imports Opel to Finland and the Baltics and is the Finnish franchising partner of the world’s largest car rental company.

7.1.2019

LänsiAuto – Sale of LänsiAuto’s Volkswagen, Audi and SEAT businesses in Kotka, Kouvola and Lappeenranta

We are advising LänsiAuto Oy in the sale of LänsiAuto’s Volkswagen, Audi and SEAT businesses in Kotka, Kouvola and Lappeenranta to K-Caara Oy, a Kesko group company. The completion of the transaction is subject to approval by the Finnish Competition and Consumer Authority, which is expected to be completed during the first quarter of 2019. The pro forma net sales of the businesses to be sold totalled some EUR 67 million in 2017. LänsiAuto is a growing and developing automotive group that offers car sales, repair, leasing and rental services. The group’s business has grown strongly in recent years: in 2019 its net sales will exceed EUR 400 million. LänsiAuto imports Opel to Finland and the Baltics and is the Finnish franchising partner of the world’s largest car rental company.

7.1.2019

Zsar Outlet Village – Financing Arrangements

We acted as the sole legal advisor in the financing of the new Zsar Outlet Village in Vaalimaa, the first premium outlet village in Finland. We handled the complex financing structure consisting of several equity issues, bank financing and a junior bond. We advised Zsar Oy as the owner and operator, the Finnish Industry Investment Ltd (Tesi) as anchor investor and Prudentus Capital Oy as the sole lead manager throughout the process. The assignment demonstrated Castrén & Snellman’s capabilities to advise clients in demanding and multifaceted projects where tailor-made solutions are needed. Read more: www.zsar.fi/

28.11.2018

Sellers – Sale of T2H

Castrén & Snellman acted as legal advisor to the sellers of T2H, a leading Finnish housing construction company, which was sold to a Finnish consortium of investors. The sellers continue in active roles operatively in the company and as significant shareholders.

8.11.2018

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

Telia Company – Acquisition of Bonnier Broadcasting

We acted as Finnish counsel for Telia Company in its acquisition of Bonnier Broadcasting, one of the Nordic region’s leading television companies, from Bonnier. Bonnier Broadcasting’s operations include Swedish TV4, C More and Finnish MTV. In Finland, MTV is a leading commercial TV network. Bonnier Broadcasting, TV4, C More and MTV employ approximately 1,200 employees. The transaction is subject to regulatory approvals.

2.10.2018

Schott – Acquisition of Primoceler

We acted as the legal advisor to Schott AG, a leading international technology group headquartered in Germany, in its acquisition of Primoceler Oy, a Finnish pioneer in glass micro bonding. In the transaction, SCHOTT AG acquired 100% of the shares in Primoceler. SCHOTT AG has more than 130 years of expertise in development, materials and technology and offers a broad portfolio of high-quality products and intelligent solutions for many industries, including the home appliance, pharma, electronics, optics, life sciences, automotive and aviation industries. SCHOTT group holds a global presence with sales offices and production sites in 33 countries worldwide and employs a staff of approximately 15,000 employees. The group generated sales of EUR 2.05 billion euros in the 2016/2017 fiscal year. Primoceler Oy has developed a ‘glass-only’ micro bonding method based on laser technology that can be completed without any heat or added materials. The innovative bonding process allows the manufacturing of vacuum-tight, ultra-miniature electronic or optical devices with superior reliability. Upon finalisation of the acquisition, the company will conduct its business activities under the new name SCHOTT Primoceler Oy based in Tampere, Finland, as part of SCHOTT’s Electronic Packaging division.

28.8.2018

Keensight Capital – Acquisition of Biovian

We acted as advisor to Keensight Capital in its acquisition of a majority stake in Biovian Oy alongside the founders and the managers of Biovian and Edmond de Rothschild Equity Strategies (ERES) funds. Our Private Equity, Tax & Structuring, and Banking & Finance services advised Keensight Capital on all relevant legal, tax, structuring and financing aspects of the transaction. Founded in 2003, Biovian is a leading European GMP (Good Manufacturing Practice) contract development and manufacturing organisation (CDmO) of biopharmaceuticals, providing manufacturing and development services from early stage to finished product. The company provides services to approximately 30 customers, including international biotech and biopharma companies from the E.U., U.S. and South Korea. Keensight Capital is one of the leading European growth buyout firms, having almost 20 years of experience in investing for the long term in profitable companies with high growth potential and revenues in the range of €15 million to €250 million. Keensight Capital has strong expertise in the sectors of internet & information technology and healthcare & wellbeing, and in particular the pharma industry and the CDmO sector.

4.6.2018

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

S Group – Acquisition of Stockmann Delicatessen Business in Finland

We acted as the legal advisor to S Group in its acquisition of the Stockmann Delicatessen business in Finland. In the transaction, the Delicatessen stores in the centre of Helsinki, Tapiola and in the Itis and Jumbo shopping centres were transferred to HOK-Elanto. The Delicatessen store in Turku was transferred to the Turku Regional Cooperative, and the store in Tampere to the Tampere Regional Cooperative. The Stockmann Delicatessen chain operations was transferred to SOK and the Stockmann Delicatessen kitchen, which prepares Stockmann Meals foods, was transferred to S-Herkkukeittiö Oy, a subsidiary of SOK. The debt-free transaction price was EUR 27 million. S Group is a Finnish network of companies operating in the retail and service sectors. It has more than 1,600 outlets in Finland. S Group comprises the cooperatives and SOK Corporation along with its subsidiaries. In 2016, the S Group’s retail sales totalled EUR 11 billion and S Group’s operating result stood at EUR 290 million. S group had around 40 000 employees in 2016. Stockmann, established in 1862, is a Finnish listed company engaged in the retail trade. It has about 8,000 employees. The Group’s revenue in 2016 was EUR 1,303.2 million. Stockmann Delicatessen’s revenue in Finland, excluding the Oulu store, was EUR 127 million in 2016, with an operating loss of EUR 11 million. The stores represented 25% of Stockmann Retail’s merchandise sales and 12% of the Stockmann Group’s merchandise sales in 2016. Stockmann Delicatessen has around 800 employees in Finland.

30.6.2017

Sponda – Advice Concerning EUR 1.76 Billion Recommended Cash Tender Offer for all shares in Sponda

We are representing Helsinki-listed Sponda Plc in connection with the public tender offer of Polar Bidco S.à r.l., a corporation owned by funds advised by affiliates of The Blackstone Group L.P., to purchase all issued and outstanding shares in Sponda. In the tender offer, Sponda shareholders will be offered a cash consideration of EUR 5.19 for each share in Sponda representing an aggregate equity purchase price of approximately EUR 1,763 million for Sponda shares. The board of directors of Sponda has unanimously decided to recommend the shareholders of Sponda to accept the tender offer for their shares. The Sponda – Blackstone deal is the largest ever real estate transaction in Finland measured by the market value of the properties. President and CEO of Sponda, Kari Inkinen, believes that with the support of Blackstone, Sponda will further develop their business, properties and portfolio. According to Inkinen, Sponda will continue to offer high-quality business premises and working environments to their customers.

6.6.2017

Eurofins – Acquisition of Ahma Ympäristö

We advised Eurofins Scientific, the global leader in food and environment testing, in its acquisition of Ahma ympäristö Oy, the second-largest environment testing laboratory in Finland. The company employs 104 staff at its three main sites in Finland. The company generated revenues in excess of EUR 7m in 2016. Eurofins Scientific Group is the world leader in food, environment and pharmaceutical products testing and is also one of the global independent market leaders in certain testing and laboratory services for agroscience, genomics, discovery pharmacology and for support of clinical studies. In addition, Eurofins is one of the key emerging players in specialty clinical diagnostic testing in Europe and the USA. Eurofins has a staff of over 27,000 in 310 laboratories in 39 countries. Eurofins Scientific is listed on the Euronext Paris Stock Exchange.

6.4.2017

Eurofins – Acquisition of Laboratory Business of Ramboll in Finland and Estonia

We advised Eurofins Scientific, the global leader in food and environment testing, in its acquisition of the analytical laboratory business of Ramboll Group in Finland and Estonia comprising five laboratories specialised in environment testing. Eurofins Scientific Group is the world leader in food, environment and pharmaceutical products testing and is also one of the global independent market leaders in certain testing and laboratory services for agroscience, genomics, discovery pharmacology and for support of clinical studies. In addition, Eurofins is one of the key emerging players in specialty clinical diagnostic testing in Europe and the USA. Eurofins has a staff of over 27,000 in 310 laboratories in 39 countries. Eurofins Scientific is listed on the Euronext Paris Stock Exchange.

6.4.2017

Sellers – Sale of Medfiles

We advised the sellers in the sale of Oy Medfiles Ltd to WDB Holdings Co., Ltd, a listed Japanese Contract Research Organisation (CRO). In the transaction, WDB acquired 100% of the shares in Medfiles. Medfiles is a Finnish-based CRO company with 30 years’ experience in the areas such as laboratory analytics, clinical research, regulatory affairs, and pharmacovigilance for pharmaceutical, medical device, and cosmetic companies. Medfiles Group also operates in the Baltic countries (Estonia, Latvia, and Lithuania) and currently has approximately 130 employees. The headquarters of Medfiles will remain in Kuopio and will serve as the headquarters of WDB’s expanding European operations.

28.3.2017

ALcontrol UK Limited – Acquisition of Novalab

We acted a legal counsel for ALcontrol UK Limited in its acquisition of Novalab Oy. ALcontrol UK Limited is part of ALcontrol Laboratories, which offer testing and advisory services in 11 countries in Europe, the Far East and Africa. ALcontrol Laboratories provide services mainly for environmental, food and consumer product testing as well as for oil and fuel testing. The group has over 2,000 employees. Novalab Oy, established in 1988, is an accredited chemical and microbiological testing laboratory, which offers environmental, water, food and microbiological analysis services, among other things, for private persons, authorities and companies.

2.3.2017

Sellers – Sale of Idean Enterprises to Capgemini

We advised the sellers in the sale of Idean Enterprises Oy to the global IT services group Capgemini. The sellers include CapMan’s subsidiary Norvestia. The transaction is estimated to close by the end of February 2017. Idean is a global design & strategy firm focused on delivering valuable customer experiences through user research, digital design, and front-end development. Idean combines its Scandinavian design heritage with Silicon Valley tech expertise to provide its clients with a comprehensive perspective on digital design and customer experience. Since 1999, Idean has delivered over 4000 design projects for customers around the world. Idean currently has approximately 170 employees across studios in Palo Alto, San Francisco, Los Angeles, New York, Austin, Helsinki, and Berlin.

17.2.2017

Comptel – Advice Concerning Nokia’s EUR 347 Million Recommended Cash Tender Offer

We are representing Helsinki-listed Comptel Corporation in connection with Nokia’s EUR 347 million public tender offer for all shares and options rights in Comptel. The board of directors of Comptel has unanimously decided to recommend that the shareholders and holders of option rights accept the tender offer. The board of directors of Comptel believes that Nokia’s global reach, strength of brand and cross-selling opportunities would benefit the activities of Comptel. Combining Comptel’s business with Nokia would offer the customers of both Comptel and Nokia a wider and more innovative software portfolio which would improve competitiveness of the combined business unit.

10.2.2017

Carmanah Technologies – Acquisition of Cybernetica’s Marine Aids to Navigation Business

We are acting as the legal advisor to Carmanah Technologies Corporation in the acquisition from Cybernetica AS of its business relating to marine aids to navigation. The assets are to be acquired by Carmanah’s wholly owned Estonian subsidiary, Sabik OÜ. The transaction is expected to be closed in the beginning of 2017. Carmanah Technologies Corporation is a Canadian company and leading provider of stand-alone solar-powered LED lights and beacons and solar power systems for industrial applications worldwide. Carmanah is listed on the Toronto Stock Exchange (TSX: CMH). The management of the new Estonian subsidiary will be handled by the management of Carmanah’s Finnish subsidiary, Oy Sabik Ab. Cybernetica develops and manufactures software solutions, light signaling and telematics products as well as maritime surveillance and radio communications systems, including marine aids to navigation products. Cybernetica has participated in developing several programs for the Estonian government such as the Estonian X-Road, internet-voting system and electronic system for customs authorities.

22.12.2016

Esperi Care – Acquisition of MediVida Oy’s business

We are acting as the legal advisor to Esperi Care Oy in its acquisition of a significant part of the shares in MediVida Oy’s subsidiaries. In the transaction, MediVida’s care and residential services, services for children and families as well as medical services business will be transferred to Esperi. The turnover of the acquired business is MEUR 30, and 700 employees will be transferred to Esperi. The transaction is pending the approval of the Finnish Competition and Consumer Authority. The transaction is expected to be closed in the beginning of 2017. Esperi Care Group, founded in 2001, is the leading Finnish social care company that offers residential care services for the elderly, the disabled and those in rehabilitation. The Group collaborates with over 150 Finn-ish municipalities and has over 3,700 places for inhabitants all around Finland. The Group has a turnover of over EUR 160 million and employs over 4,000 people. MediVida, founded in 2007, is a Finnish social and health care services company offering health and care services as well as services for children and families.

12.12.2016

Helsinki Deaconess Institute Foundation – The Combination of healthcare company Diacor Terveyspalvelut with Terveystalo

We are acting as legal advisors to Helsinki Deaconess Institute Foundation (HDL), the majority shareholder, in the sale of its shares in Diacor terveyspalvelut Oy to Terveystalo. HDL will subscribe for Terveystalo shares and, thus, become a major shareholder in Terveystalo, which is sponsored by private equity house EQT. As part of the transaction, minority shareholders LähiTapiola Keskinäinen Vakuutusyhtiö and LähiTapiola Keskinäinen Henkivakuutusyhtiö will also sell all of their Diacor terveyspalvelu Oy shares to Terveystalo. We represented HDL extensively in the Diacor transaction and in relation to its reinvestment in Terveystalo. HDL’s goal for the merger is to increase the value of its assets and that way ensure that they achieve their strategic goals. The transaction is pending clearance by the Finnish Competition and Consumer Authority.

1.12.2016

Intermediate Capital Group – Acquisition of Esperi Care Group

We are acting as the legal advisor to Intermediate Capital Group (ICG) in its acquisition of Esperi Care Group from funds managed by CapMan Plc and Esperi Care Group’s management. The transaction was closed on 15 June 2016. Esperi Care Group, founded in 2001, is the leading Finnish social care company that offers residential care services for the elderly, the disabled and those in rehabilitation. The Group collaborates with over 150 Finnish municipalities and has over 3,700 places for inhabitants all around Finland. The Group has a turnover of over €160 million and employs over 4,000 people. ICG is a UK-based specialist asset manager listed on the London Stock Exchange, with a 27-year history in private debt, credit and equity. The company is an active investor, having invested in the Nordic markets for over 25 years. ICG has €21.6bn of assets under management globally.

29.5.2016

Private Real Estate Investors – Sale of 115 Million Euro Real Estate Portfolio

We represented private real estate investors who sole a 20-property retail real estate portfolio for 115 million euros to an affiliate of Sirius Capital Partners. The retail premises are located throughout Finland, and the main tenants include Tokmanni, S Group and Kesko. Read more in Sirius’ press release .

14.3.2016

Sellers and Investors – Sale of Touhula Varhaiskasvatus Oy

We are acting as the legal advisor to the sellers in the sale of Touhula Varhaiskasvatus Oy to EQT Mid Market Fund. In addition to the sellers, Coronaria Hoitoketju Oy and the management of Touhula, we also advised Cor Group Oy, Norvestia Oyj and Finnish Industry Investment Ltd in relation to their reinvestment in the company. The rapidly growing Touhula, which was founded in 2010, today operates over 80 pre-schools and day-care centres across Finland under two brands, Touhula and Aarresaari. Touhula and Aarresaari provide an active learning environment for children, incorporating physical activity and adventure into the experience. Touhula care for approximately 6,000 children and employs approximately 1,000 day care professionals. The share purchase agreement has been signed and the transaction is pending the approval of the relevant authorities. The transaction is expected to be closed in April 2016.

10.3.2016

Federal Signal – Divestment of Bronto Skylift

We are acting as the sole legal advisor to Federal Signal Corporation in the divestment of its Bronto Skylift business for EUR 80 million in cash, subject to post-closing adjustments. The transaction is subject to customary closing conditions and is expected to be completed during the first quarter of 2016. Federal Signal was founded in 1901 and is a NYSE listed leader in environmental and safety solutions. Bronto Skylift is a leading manufacturer and supplier of sophisticated, vehicle-mounted, aerial platforms for firefighting, rescue and industrial applications. It manufactures its products in Finland and sells globally under the Bronto Skylift® brand.

18.12.2015

Finnish Industry Investment and Finda – Investments in Rauma Marine Constructions

We advised Finnish Industry Investment and Finda in their significant investments, made together with a fund managed by Taaleritehdas, in Rauma Marine Constructions (RMC), a pioneer in arctic shipbuilding. The total value of the investments is EUR 19 million. RMC’s strengthened position is yet another indication of the recovery of the Finnish shipbuilding industry and allows RMC to carry out major shipbuilding projects. RMC is a Finnish-owned shipyard with leading-edge expertise and technology in this field. Strategically, RMC specialises in the construction and maintenance of multi-purpose icebreakers, car ferries and naval vessels.

17.12.2015

Adelis Equity Partners – Acquisition of Puuilo

We are acting as the legal advisor to funds managed by Adelis Equity Partners in their acquisition of the Puuilo group from Sentica Partners and Puuilo’s management. The share purchase agreement has been signed and the transaction is pending the approval of the relevant authorities. Puuilo, founded in 1982, is one of the leading discount retailers in Finland. The fast growing company currently has 15 stores throughout Finland and a webstore. Puuilo has a wide product offering that comprises do-it-yourself/renovation related products, tools, car accessories, garden supplies, pet food and supplies as well as household goods. Puuilo is primarily focused on DIY customers and is known for its wide assortment and everyday low prices. The company has a turnover of approximately €75 million and employs 240 people. Adelis Equity Partners, a Sweden-based private equity house, is an active investor and partner in creating value in small and medium sized Nordic companies. Adelis was founded in 2012 with the goal of building the leading lower middle market investment firm in the Nordics. Adelis’ team members have extensive Private Equity experience, have invested in over 50 companies and have been members of the board in more than 50 middle market companies.

1.12.2015

HopLop – Sale of Hoplop Oy to funds managed by Intera Partners

We advised the owners of HopLop Oy in the sale of the controlling interest of the company to funds managed by Intera Partners. HopLop launched the entire indoor adventure park business in Finland in 2006, when the first park in the chain was opened in Vantaa. HopLop has become a favorite of families with children, and over the years has with 18 indoor parks become the leading chain in its business. Intera Partners further strengthens HopLop’s competitiveness and market share and will enable the construction of new adventure parks in the coming years. Intera Partners is a leading Finnish private equity investor that manages two funds with a total capital of 325 million euros.

12.10.2015

Van Ameyde – Acquisition of Lars Krogius Group

We assisted the Dutch Van Ameyde International BV in its acquisition of the Lars Krogius group, an independent provider of surveying, loss adjustment and claims management services in Finland, Sweden, Denmark, Russia, the Baltic region, Belarus and Ukraine. The acquisition entailed the purchase of the entire share capital of the Finnish parent company as well as the Estonian Krogius Group Services Oü. The privately held Van Ameyde is Europe’s leading claims outsourcing company with its clients consisting of major insurance providers, corporate risk managers and motor fleet managers.

3.9.2015

Core Assets Group – Acquisition of Neljä Astetta Oy

We acted as counsel for the UK-based Core Assets Group in its acquisition of Neljä Astetta Oy, a Finnish company offering child welfare services. With the transaction, Neljä Astetta Oy will become part of the same group with Perhehoitokumppanit Suomessa Oy, a Finnish family welfare company owned by Core Assets Group. In 2014, Neljä Astetta Oy posted a turnover of approximately EUR 4.6 million, and the company had 64 employees. In addition to Finland, Core Assets Group operates in the United Kingdom, Sweden, Ireland, Australia, New Zealand, Japan, the United States and Canada.

17.7.2015

Hanza Holding Ab – Acquisition of Metalliset Group

We acted as Hanza Holding Ab’s Finnish counsel relating to its agreement to acquire 100% of the shares in Metalliset Group. The purchase price, which is approximately SEK 70 million (EUR 7.6 million), will be paid partly in cash and partly through an issue of new shares in Hanza. The completion of the acquisition is conditional upon regulatory approval and a resolution by the general meeting on the rights issue. Hanza Holding Ab is a fast-growing industrial business partner within manufacturing, supplying complete manufacturing solutions in mechanics, electronics, cables and final assembly. Its shares are listed on the Nasdaq OMX First North market. Metalliset Group makes high-quality products for the manufacturing industry. The company’s clientele consists of large Nordic companies. Metalliset has approximately 500 employees in Finland, Estonia, the Czech Republic and China.

8.7.2015

Carmanah Technologies Corporation – Acquisition of Sabik

We represented Carmanah Technologies Corporation in its acquisition of the Sabik group of companies, which included Oy Sabik Ab (Finland), Sabik GmbH (Germany), Sabik PTE Ltd (Singapore), Sabik Ltd (United Kingdom) and Sabik Offshore Ltd (United Kingdom). The acquisition was completed on 2 July 2015. Sabik is one of the world’s leading manufacturers of visual aids and signal systems for traffic, including waterways, roads and railways. Sabik’s operations are headquartered at Sabik Oy in Porvoo, Finland. Canadian Carmanah Technologies Corporation is a leading provider of stand-alone solar-powered LED lights and beacons and solar power systems for industrial applications worldwide. The company is listed on the Toronto Stock Exchange (TSX: CMH).

6.7.2015

Global Tungsten & Powders Corporation – Acquisition of Tikomet Oy

We acted as the legal advisor to Global Tungsten & Powders Corporation (GTP) in its acquisition of Tikomet Oy from Sponsor Capital and Tikomet Oy’s management. The share purchase agreement regarding the transaction was signed on 12 June 2015. The transaction is pending the approval of relevant authorities. Tikomet is one of the leading producers of hard metal powders that apply the zinc recycling process, which is cost-effective and environmentally safe. In 2014, Tikomet Oy had a turnover of EUR 28.2 million. Today, the company has 38 employees. GTP is one of the largest processors of tungsten raw materials in the Western world, with a history dating back to 1916. The company’s headquarters and largest production facility are located in Towanda, Pennsylvania. GTP is a division of the Austrian based Plansee Group. In the 2013/14 fiscal year, the Plansee Group realised consolidated sales of 1.2 billion euros and employed a total of 6,060 people worldwide.

2.7.2015

MCI Press – Sale of MCI Press Oy Shares

We assisted the management of MCI Press Oy in the sale of the majority shareholding to Otavamedia Oy, a leading player among Finnish magazine publishers. In connection with the transaction, MCI Press Oy acquired the entire share capital of Deco Media Oy from Otavamedia Oy. The acquisition also included Otavamedia’s Asiakasviestintä unit, which is specialised in content production for customers. After the arrangement, MCI Press Oy employs around 60 professionals with offices in Helsinki and Turku, Finland. The new MCI Press Oy will be one of the leading publishers in Finland. The company offers content marketing services to its customers in the form of print, online, newsletter and video content as well as social media services, media communications and webcast services.

8.4.2015

UL LLC – Acquisition of Futuremark Oy

We advised UL LLC in its acquisition of Futuremark Oy. The transaction was completed on 31 October 2014. Futuremark is the market leading provider of performance benchmarking software. Futuremark develops the world’s most widely used performance tests for desktop computers, notebooks, tablets, smart phones and browsers. The company has its headquarters in Espoo, Finland, a sales office in Silicon Valley and sales representatives in Taiwan. UL is a global independent safety science organisation with more than a century of expertise in the fields of product safety testing, inspection and verification services. UL employs more than 10,000 professionals in 40 countries. With the acquisition of Futuremark, UL is strengthening its software-based testing capabilities.

6.11.2014

Meyer Werft and Finnish Industry Investment – Acquisition of Meyer Turku Oy

We acted as the buyer’s legal advisor in a transaction that involved the acquisition of 100% of the shares in Meyer Turku Oy, formerly STX Finland Oy, from STX Europe AS which is part of the group of international shipbuilding companies owned by the South Korean STX Corporation. In addition to Castrén & Snellman, numerous other professional advisors representing different fields and jurisdictions were involved in the various parts and stages of this highly complex transaction project. Meyer Turku Oy is an international shipbuilding company specialised in technologically demanding shipbuilding projects, including the M/S Oasis of the Seas and the M/S Allure of the Seas, Finland’s largest export products and the world’s largest and most innovative cruise ships. These ships were developed and designed at and delivered from the company’s Turku shipyard in 2009 and 2010, respectively. The share purchase agreement regarding the transaction was signed on 24 July 2014, and the transaction was completed on 19 September 2014 after merger clearance from the competition authorities. The successful completion of the transaction is an excellent example of the benefits that our clients gain from the combination of our long-term experience in demanding cross-border transactions and our expertise in a wide range of specialised facets of business law.

3.10.2014

Lemminkäinen Corporation – Divestment of Lemcon Networks businesses in Norway and Sweden

We advised Lemminkäinen Corporation in the sale of Lemcon Networks Ltd’s mobile telecom network project business in Norway and Sweden to Netel, a leading Scandinavian telecommunications contractor. The majority shareholder in Netel is private equity firm Axcel. Lemcon Networks, which is 100% owned by Lemminkäinen Corporation, provides professional project management, implementation services and software solutions for mobile telecom network projects. The divested businesses employ a staff of approximately 80 professionals.

8.4.2014

Secto Automotive – Sale of the Entire Share Capital of Secto Automotive Oy to Funds Managed by Sentica Partners

We advised the founders and acting management in the sale of the entire share capital of Secto Automotive Oy to funds managed by Sentica Partners. The sellers shall continue as minority shareholders in the target company. Secto Automotive Oy is the largest privately owned car leasing company in Finland. The turnover of the company reached 63 million euro in 2013.

21.3.2014

ClassNK – Acquisition of the Maritime Software House Napa Oy

We are acting as the Finnish legal counsel of Nippon Kaiji Kyokai (ClassNK), a Japanese ship classification society, in its acquisition of Napa Oy, a Finnish maritime software company, which has a total of 170 employees and had a turnover of 18.4 million in 2013. The share purchase agreement regarding the transaction was signed by ClassNK and the majority of Napa Oy’s shareholders on 17 March 2014. Napa is the world leading software house supplying solutions for ship design and operation with a mission to improve the safety and eco-efficiency of the global maritime industry. Napa’s software is used by various maritime corporations and organisations, such as shipyards, ship owners and operators, charterers, ship designers, classification societies, research institutes, authorities, consultancies and universities. ClassNK is one of the world’s leading ship classification societies, dedicated to supporting the growth and development of the maritime industry and to ensuring the safety of ships, their crews, and the marine environment. With more than 8,500 vessels on its register, ClassNK provides classification and certification services to more than 20% of the world’s merchant fleet.

21.3.2014

Capiton – Acquisition of PRC, the European Phenolic Resins Business of Dynea

We advised German private equity investor capiton AG in its acquisition of Dynea Chemicals Oy’s phenolic resins business. The transaction was completed on 17 February 2014. The business of the acquired companies constitute a European market leader in phenolic resins. The companies operate from seven production facilities in six countries (Finland, France, Germany, Poland, Romania and United Kingdom) and have approximately 300 employees and an annual sales of approximately €220 million.

20.3.2014

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