Bird & Bird's team in Finland has advised Funds controlled by Sponsor Capital on a transaction to combine Ekokuljetus JNH Oy, Finells Transport Ab and the operations of Pohjanmaan Hyötykäyttö Oy in Kokkola. The transaction was completed on 1 September 2020.
The team, led by partner Mikko Ahonen (Corporate), advised Funds controlled by Sponsor Capital on all legal aspects of the transaction, including legal advice on corporate, M&A, finance, environmental, competition, regulatory and commercial issues.
Sponsor Capital is a Finnish private equity firm that invests in small and medium-sized companies. The combination creates a new group in the field of environmental services that is able to offer its clients a full range of waste management services from collection to materials re-use. Funds controlled by Sponsor Capital will be the majority owner of the newly-formed group.
The transaction is a significant step towards the further development of the Finnish recycling industry, an industry which is in the midst of numerous regulatory changes. In addition, the transaction is expected to reduce the companies' combined carbon footprint, which in turn will reduce the overall environmental impact of waste management. Partner Mikko Ahonen describes the transaction as being a perfect fit for Bird & Bird's expertise and strategic goals.
"As an international law firm with deep knowledge and know-how in this business sector, our team was exceptionally well placed to advise the client on this complex transaction as a full service offering", says Ahonen.
"Working side by side with our clients in this field, we are witnessing a growing interest towards the circular economy and we are extremely happy to be able to assist our clients with the complex regulatory and commercial questions arising from this."
Partner Matti Virolainen of Sponsor Capital says "The legal advice from Bird & Bird was extremely professional and robust. Our co-operation worked smoothly despite the numerous twists and turns of the negotiation process and the tight timetable".