Mari Kulmakorpi

Associate, Master of Laws

Services

Employment

Contact details

I work as an associate in our Employment service. I regularly advise our domestic and international clients in various employment-related matters.

Prior to joining Castrén & Snellman, I worked as a legal counsel for an employer association and advised in various employment law related matters. I have expertise, for example, in questions related to temporary agency work. I have also previously worked in a Nordic food company as an HR lawyer. During my studies, I worked as an in-house legal trainee and in an international audit firm.

I have a Master of Laws degree from the University of Helsinki. In addition, I studied one semester at the University College Cork in Ireland.

I’m on secondment at a client company until March 2027.

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Latest references

Reka Industrial – Sale of Reka Cables to Nexans Group

We are acting as the legal advisor to Reka Industrial Plc in the sale of its wholly owned subsidiary Reka Cables Ltd, which operates the cable business of Reka Industrial. The purchase price of the shares is EUR 53 million and will be paid in cash. According to the Finnish Accounting Standards, the net debt of Reka Cables at the end of September 2022 was EUR 6.5 million. The completion of the transaction, conditional on the approval of the Extraordinary General Meeting of Reka Industrial and approvals by competent regulatory authorities, is expected to take place during the first half of 2023. Reka Oy, representing in aggregate 65.36% of the voting rights in Reka Industrial, has irrevocably undertaken to vote in favour of the transaction at the Extraordinary General Meeting. Reka Cables is the largest Finnish-owned cable manufacturer, which has been at the forefront of the cable industry for more than 60 years. Reka Cables provides durable, high-standard cable solutions for renewable energy production, network construction and industry as well residential and office construction. Reka Cables has approximately 270 employees, and the turnover in 2021 was EUR 134 million.

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.

Körber – Majority stake in AI consulting company DAIN Studios

We advised Körber, an international technology group in strengthening its Business Area Digital by acquiring a majority stake in DAIN Studios, a Finnish-German based company which provides data and AI consultancy. ‘AI First is a key strategic initiative for Körber. With DAIN Studios, we strengthen our position globally as innovation leader in the future-oriented field of AI’, says Dr Christian Schlögel , Chief Digital Officer and Member of the Körber Group Executive Board. ‘With the consulting expertise of DAIN Studios, we expand our possibilities to leverage the power of AI to create a visible business value on the side of the customer.’ Körber was established in 1946 and today has about 10,000 employees and more than 100 locations worldwide. Körber Business Area Digital offers and develops digital products, services and solutions with experts, science and partners from multiple industries within logistics, pharma, tissue and tobacco to transform global manufacturing. Körber AG is the holding company of the Körber Group. DAIN Studios is a Finnish-German data and AI consultancy business established in 2016, which offers artificial intelligence solutions. DAIN Studios’s clients come from a variety of industries such as telecommunications, pharmaceuticals, manufacturing, banking, insurance and media.

Nala Renewables – Development, acquisition and financing of battery energy storage system (BESS) project

We advised Nala Renewables on the Finnish law aspects of the development, acquisition and financing of its battery energy storage system (BESS) project in Vuolijoki, Finland. The project comprises a 125 MW / 250 MWh battery energy storage system. Our advice extended beyond financing to the transaction’s legal due diligence and the acquisition of the project company. We also advised on key project contracts and financing documentation for the project finance facilities provided by Coöperatieve Rabobank U.A. The project is part of Nala Renewables’ growing portfolio of battery storage assets in Finland and the wider Nordic region, supporting the integration of renewable energy and contributing to the flexibility and stability of the Finnish electricity grid.

Foundation Clinic – Funding Round

We advised Foundation Clinic in connection with its funding round backed by a group of prominent Finnish technology entrepreneurs and investors, including founders behind Supercell and Wolt. Foundation Clinic is a Finnish healthcare company developing a new approach to private healthcare focused on preventive, data-driven and continuous care. The company aims to combine comprehensive health data with ongoing medical care to identify and address health risks at an early stage.

Delta Capacity – Project financing of two battery energy storage systems (BESS)

We advised Delta Capacity AG in a project financing of two battery energy storage systems (BESS). The financed projects are among the largest BESS developments in Finland to enter construction with 250 MW / 600 MWh combined capacity. The financing was provided by Société Générale with support from Finnvera. Construction of both projects, located in Lapinlahti and Teuva, has already begun and the commercial operations are targeted to commence in late 2027 with partial tolling agreements already in place for both assets. The project in Lapinlahti is executed in partnership with Covenergo, while the project in Teuva is executed in partnership with Strioga Family Foundation. Delta Capacity is a Swiss developer of utility-scale battery storage systems. The projects strengthen Delta Capacity’s growing Nordic portfolio and support the flexibility of Finland’s electricity system by adding energy storage capacity, enabling production optimization as well as participation in electricity markets and reserve services.

Martela Corporation – Directed share issue and combination of share series

We acted as legal adviser to Martela Corporation in its directed share issue, through which Martela raised gross proceeds of approximately EUR 7.2 million to strengthen the company’s financial position and liquidity and to create headroom for continuing the necessary development and efficiency measures. In connection with the directed share issue, Martela’s unlisted series K shares, which carried greater voting rights, were combined with its listed series A shares. Following the combination, the company has only one share series, which is traded on the regulated market maintained by Nasdaq Helsinki Ltd, with each share carrying one vote and otherwise identical rights. Martela is a Nordic leader specialising in user-centric working and learning environments. With over 80 years of experience, Martela creates the best places to work and offers its customers the Martela Lifecycle solutions which combine furniture and related services into a seamless whole.

Banyan Software – Acquisition of Carus Ferry

We acted as legal adviser to Banyan Software on its acquisition of Carus Ferry, a Finland-based provider of reservation, check-in and port operations software for ferry and passenger shipping operators. The acquisition further strengthens Banyan Software’s presence in the Nordic region while providing Carus with a long-term partner to support its continued growth and development. Carus was founded in 1998 and is headquartered in Mariehamn on the Åland Islands, Finland. The company develops mission-critical software for ferry, cruise and passenger shipping operators, covering the full passenger journey from booking and ticketing to capacity management, check-in and boarding. Carus also provides port automation, onboard sales systems and business information tools. The company serves approximately 30 operators across four continents and is the largest vendor by customer count in ferry reservation and departure control. Banyan Software is an acquirer and long-term operator of mission-critical software businesses serving specialised industries. Founded in 2016, Banyan follows a buy-and-hold-for-life approach and supports the long-term growth and development of its portfolio companies. Banyan operates more than 130 portfolio companies across North and South America, the United Kingdom, Europe and APAC. Following the acquisition of Carus, Banyan operates three businesses in the Nordic region.

Get to know our other experts in the field

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+358 40 354 2204 tomi.kemppainen@castren.fi

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Laura Häyrinen

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+358 20 776 5093 laura.hayrinen@castren.fi

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+358 20 776 5132 werner.laitinen@castren.fi

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