Jussi Mäkikangas

Pharmaca Health Intelligence – Acquisition of PODIUM Connect and PODIUM Visits businesses

We assisted Pharmaca Health Intelligence in its acquisition of Mediaattori Ltd’s PODIUM Connect® and PODIUM Visits businesses. Through the acquisition, Pharmaca Health Intelligence strengthens its extensive service offerings in medical information, data-driven management, and education for both healthcare and pharmaceutical companies. Pharmaca Health Intelligence is a pioneer in digital medical information and a reliable partner for wellbeing services counties, the private healthcare sector and pharmacies. The company invests in the development of technology and service solutions related to pharmaceutical information, also on an international scale.

5.12.2024

Vapaus Bikes Finland – Series A funding round

We represented Vapaus Bikes Finland Oy, a company offering employee benefit bikes, in its international EUR 10 million Series A funding round. The investors behind the funding are private equity investors Shift4Good and Superhero Capital Ltd as well as Tesi together with the European Guarantee Fund of the European Investment Bank. The equity-based funding will support the company’s international expansion, software development, platform automation, and the growth of its concept for the second-hand market of bikes. Vapaus Bikes Finland is at the forefront of sustainable mobility services and has been a pioneer in the Employee Benefit Bikes sector since late 2020. It has been ranked among Finland’s fastest growing companies. Shift4Good is an impact venture capital fund focused on the decarbonisation of the transportation sector. Tesi (officially Finnish Industry Investment Ltd) is a state-owned, market-driven investment company that invests in venture capital and private equity funds and directly in Finnish startups and growth companies.

21.8.2024

Tesi – Investment in Sisu Auto

We advised Tesi (Finnish Industry Investment Ltd) in its investment in the heavy duty vehicles company Oy Sisu Auto Ab. With this investment, Tesi became an owner in the company with a share of 24.4 per cent. Sisu Auto is a pioneer in the Nordic market in the development of heavy duty vehicles. Sisu’s core competences are in the product development and production of trucks and military vehicles. Tesi is a state-owned, market-driven investment company that invests in venture capital and private equity funds and directly in Finnish startups and growth companies. The investments managed by Tesi total 2.1 billion euros.

19.8.2024

Bionto – EUR 4 million seed equity funding

We advised Bionto Oy, a company offering industrial bio-solutions, in a financing arrangement where Korpi Capital made a EUR 4 million seed equity investment in the company. The execution of the investment requires that certain conditions specified in the investment documentation are met. Bionto is a Finnish early-stage biotechnology company that develops and produces sustainable, profitable and safe biotechnological solutions to support the green transition, business objectives and societal goals of various industrial operators.

8.7.2024

BHP – Alliance agreement with Kingsrose Mining Limited

We acted as the Finnish legal advisor for BHP in connection with an exploration alliance agreement entered into between BHP and Kingsrose Mining Limited under which BHP (through a wholly owned subsidiary) will provide funding for regional mineral exploration across areas of interest in Finland. As part of the arrangement announced on 22 May 2024, BHP and Kingsrose entered into two exploration alliance agreements, focusing on nickel and copper exploration in specified regions in Finland and Norway. In Finland, the alliance agreement covers Kingsrose’s four exploration reservations at the Central Finland project in the Kotalahti Nickel Belt, a 400 kilometre long greenstone belt which hosts the past producing Hitura, Kotalahti and Enonkoski nickel mines. The alliances follow from Kingsrose’s successful participation in the BHP Xplor program, a global accelerator program targeting innovative, early-stage mineral exploration companies to find the critical resources necessary to drive the energy transition. BHP is the largest mining company in the world by market capitalisation, producing essential commodities through its assets, including iron ore, metallurgical coal, copper and nickel, and moving into potash.

4.7.2024

Finnish Climate Fund – Junior financing to Meriaura for the expansion of low-carbon technologies in shipping

We assisted Finnish Climate Fund in junior financing to the shipping company Meriaura for their fleet renewal programme to support the adoption of low-carbon shipping solutions. Meriaura has commissioned two bio-oil-powered hybrid cargo ships with a tonnage of 6,750 from the Royal Bodewes Shipyard in the Netherlands. The ships can achieve emissions reductions of up to 98 % compared to traditional cargo ships powered by fossil fuels. In the emission-intensive freight industry, more efficient vessels powered by renewable fuels have the potential to lead the way to emissions reductions across the sector. Meriaura is a Turku-based maritime shipping company that specialises in the sea transportation of industrial products, raw materials as well as demanding special cargo. The company’s cargo ships operate in Europe, mainly in the Baltic and North Sea. The Finnish Climate Fund is a Finnish state-owned special-assignment company. Its operations focus on combating climate change, boosting low-carbon industry and promoting digitalisation. By the end of December 2023, the Climate Fund has made 24 investment decisions totalling 178.9 million euros.

26.6.2024

OP Finland Infrastructure – EUR 45 million investment in ESL Shipping

We acted as legal advisor to OP Finland Infrastructure LP in its investment in ESL Shipping Ltd, a Finnish shipping company. Varma Mutual Pension Insurance Company co-invested in the company. The investment was made against new shares in ESL Shipping, and the EUR 45 million co-investment corresponds to a 21.43 % holding in the company. The aim of the investment is to accelerate ESL Shipping’s green transition. ESL Shipping Ltd is a Finnish shipping company. Its main shareholder is Aspo Plc. OP Finland Infrastructure is a fund investing in Finnish infrastructure. The fund is managed by OP Financial Group. Varma Mutual Pension Insurance Company is a Finnish pension insurance company. In September 2023 the value of its investment portfolio amounted to EUR 57.5 billion.

26.4.2024

BYG4Lab and Keensight Capital – Acquisition of Finbiosoft

We advised BYG4Lab, a portfolio company of the European growth buyout investor Keensight Capital, on its acquisition of Finbiosoft Oy, an innovative software company founded in 2011 with a mission to help laboratories reach higher quality and better efficiency. Founded in 1982, BYG4lab is a leading software company specialised in data management solutions for medical laboratories. The company is headquartered in France and employs nearly 110 people, of which approximately 40% are in R&D. Keensight Capital is a European growth buyout investor with deep expertise in technology and healthcare. Keensight Capital partners with the management teams of fast growing and profitable companies providing capital, strategic guidance and operational support.

14.3.2024

Keensight Capital – Combination of Biovian and 3P Biopharmaceuticals

We advised Keensight Capital on the Finnish law aspects of the combination of Biovian and 3P Biopharmaceuticals, two leading biologics contract development and manufacturing organisations (CDMOs) backed by Keensight Capital, to establish 3PBIOVIAN, a new pan-European leader in its field. The combined group will offer unparalleled end-to-end development and manufacturing services for all protein expression systems and viral vectors, both for drug substance and drug product, from preclinical to clinical development and commercial phases. With over 500 professionals, manufacturing sites in Pamplona-Noáin (Spain) and Turku (Finland) and its commercial office in Boston (USA), 3PBIOVIAN will become one of the main independent European bio-CDMOs. We advised Keensight Capital alongside Paul Hastings, Keensight Capital’s lead legal counsel in the transaction, and Strelia and Garrigues, who, respectively, advised Keensight Capital on Luxembourgian and Spanish legal aspects of the combination.

6.2.2024

OP Finland Infrastructure – EUR 50 million investment in Lounea

We acted as legal advisor to OP Finland Infrastructure LP in its investment in Lounea, a Finnish optical fibre operator. The EUR 50 million convertible loan was made available to Lounea’s operative subsidiary Lounea Net Oy for investments supporting the company’s strategic growth. The aim of the investments is to increase fibre network coverage in Finland and develop the Finnish digital infrastructure. Lounea is a Finnish optical fibre operator whose business consists of telecommunications infrastructure and ICT solutions. OP Finland Infrastructure is a fund investing in Finnish infrastructure. The fund is managed by OP Financial Group.

25.1.2024

Newil&Bau – Acquisition of the business of Auratum Asunnot and equity funding

We served as the legal advisor to Newil and Bau Oy in its acquisition of the business of Auratum Asunnot, which is part of the Rausanne Group and specialises in the construction of new high-quality homes. With the equity investment that was carried out in connection with the transaction, Rausanne Oy, the parent company of the Rausanne Group, became a 15% shareholder in Newil&Bau. ‘This milestone paves the way for our growth going forward and allows us to scale our Design Home and Services concept, Customer Platform technology solution and other centralised processes into a new geographical region. This sets a solid foundation for our future international expansion. We are also pleased to have Rausanne support our growth as a shareholder and project financing partner,’ says Petri Ylivuori, CEO of Newil&Bau. Auratum Asunnot has constructed high-quality homes in Turku and Helsinki for 20 years. The projects of Auratum Asunnot focus on top quality, location and personalised customer service. Auratum Asunnot is part of the Rausanne Group. Established in 2020, Newil&Bau is a next-generation housing product company that provides beautiful and sustainable living experiences for urban dwellers. The company’s operations are based on strong customer focus, continuous product development and a genuine desire to understand how people really want to live.

10.1.2024

Litorina Capital – Merger of Leo’s Lekland and HopLop

We advised Litorina Capital, a Swedish private equity house, in the merger of two leading indoor playground chains in the Nordics, Leo’s Lekland and HopLop. Litorina IV fund, the main owner of Leo’s Lekland, and CapMan Special Situations I, the main owner of HopLop, agreed on an ownership arrangement that will unite Leo’s Lekland and HopLop into Europe’s leading indoor playground group. Both parties will continue their ownership in the new combined group. The HopLop chain continues to operate in Finland under the HopLop brand. The new group will be Europe’s largest family focused activity and exercise company. It has a total of 68 parks in Finland, Sweden, Norway, Denmark and Germany. Leo’s Lekland is the largest indoor playground chain in the Nordic countries, with a total of 50 parks in Sweden, Norway, Denmark, Finland and Germany. There are 7 parks in Finland. HopLop is the largest children’s adventure and indoor playground chain and the most significant family focused activity and exercise company in Finland. There are 17 HopLop parks in Finland and 1 in Germany. Litorina is a private equity investment firm based in Stockholm, Sweden. It was founded in 1998. It invests in niche market leading companies with headquarters in the Nordics. Currently it has 13 portfolio companies.

2.2.2023

Permira Credit – Acquisition of shares in Quant

We acted as local counsel for Permira Credit in its acquisition of the majority of shares in Quant AB (publ), a leading service provider in industrial maintenance, maintaining and improving of safety, production and equipment performance around the world. The shares were acquired from Nordic Capital. Quant is a leading multinational maintenance service provider, maintaining and improving the safety, production and equipment performance for over 400 facilities around the world. The company offers maintenance services within a wide range of industries, including pulp and paper, mining and minerals, chemicals, food and beverages. The core of Quant’s value proposition consists of improving safety, creating organizational equity, driving plant performance, and cost alignment. The approach is to view the maintenance function as a profit contributor, and not as a cost centre, with Quant as the partner driving this transformation. Quant has more than three decades of experience, 2,400 employees and headquarters in Stockholm, Sweden. Permira is a global investment firm that backs successful businesses with growth ambitions. Founded in 1985, the firm advises funds with total assets under management of over EUR 60 billion and makes long-term majority and minority investments across two core asset classes, private equity and credit. Permira Credit, established in 2007, is one of Europe’s leading specialist credit investors, supporting businesses with flexible financing solutions across Direct Lending, CLO Management and Structured Credit. The firm advises investment funds and products which have provided more than EUR 14 billion of debt capital to over 300 European businesses. Permira employs over 450 people in 16 offices across Europe, the United States and Asia.

2.12.2022

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

eBrands – Funding Round

We advised eBrands Holding Oy in its newest USD 30 million funding round. The new funding takes the company’s total funding to USD 50 million. The majority of the equity financing comes from Varma Pension Fund, Rettig Group and Veikko Laine Oy in addition to Icebreaker.vc and other private investors. eBrands is the leading brand aggregator in the Nordics. eBrands’ business is based on purchasing and evolving newer but already successful Nordic e-commerce brands and selling them globally. eBrands’ brand portfolio focuses on sustainability, wellness, sports and lifestyle products. Within its first year, eBrands acquired 18 brands and is aiming to add 10 more to its portfolio during 2022.

8.7.2022

Intera Partners – Buy-out of HögforsGST

We assisted Intera Partners in their buy-out acquisition of a heating and cooling system group HögforsGST. There is an increasing demand for energy efficient and smart heating and cooling solutions, since most of the energy used in buildings is consumed for heating which is one of the greatest sources of greenhouse gas emissions as well as one of the most significant expenditures related to properties. Intera Partners is a Finnish growth-oriented private equity firm. Intera was founded in 2007 and is owned by its employees. Intera manages three active funds with a total capital of €785 million. Fund investors include leading Nordic and European institutional investors. HögforsGST is a Finnish company that specialises in the development, manufacture, sale and marketing of high-quality heating and cooling systems and is the leading heating substations supplier in the Nordic countries. The company’s objective is to reduce energy losses in properties while efficiently bringing down living costs and greenhouse gas emissions derived from heating and cooling. HögforsGST has a comprehensive sales network throughout Finland and subsidiaries in Sweden and Norway.

25.5.2022

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