Our Finnish-German Corporate team led by Partner Jori Taipale recently advised Transtech Ltd, a large Finnish rolling stock manufacturer, and Pritech Ltd and Sinituote Ltd (as shareholders and sellers of Transtech Ltd), in a transaction where the majority of Transtech's shares were acquired by Škoda Transportation Group of the Czech Republic.
Led by Partner Jori Taipale, the team also included Counsel Mikko Ahonen, Senior Associates Iina-Mari Supperi and Heikki Eskola, Partner Kimmo Reina, Counsel Salla Tuominen and Senior Counsel Kristiina Lehvilä, from the Helsinki office. German corporate partners Peter Veranneman and Peter Leube provided valuable and seamless support for finalising the documentation, which was under German law.
Established in 1985, Transtech was owned by Patentes Talgo of Spain from June 1999 until March 2007 when it was sold to a group of Finnish investors. It produces double-deck coaches and car-carrying wagons for Finnish national operator VR and trams for Helsinki City Transport. Based in Oulu and Otanmäki, it has over 530 staff and recorded turnover of €95m in 2014. The value of the deal has not been disclosed by the parties.
With the acquisition Škoda Transportation is expected to become a key player in the field of railway and urban rail vehicles in the Finnish and other Northern European markets.