The Norwegian financial institution Folkefinans AS was acquired by the Swedish financial institution Nordiska Kreditmarknadsaktiebolaget (publ), who wanted to expand its business to Norway. Folkefinans provides short term loans and consumer loans to private individuals in Norway and Sweden. The company is regulated by the Norwegian Financial Supervisory Authority (Finanstilsynet), whose regulatory approval was required for the completion of the transaction. The ownership base in Folkefinans was diversified, the largest owner being an estate of a former British payday loan company, and the remaining 90% consisting mainly of Norwegian, Icelandic, Swedish and Finnish private investors.
Deal advisor to the Company and the shareholders. December 2021
The food-tech company Mekitec from Finland acquired the Mexican technology company Kanan Smart Solution by a share swap transaction from Grupo Bimbo, the global leader in Bakery. Grupo Bimbo became the largest shareholder of Mekitec with an almost 25% ownership. The transaction included also a commercial co-operation agreement between Mekitec and Grupo Bimbo.
More information on https://www.mekitec.com/mekitec-grupo-bimbo-announcement/
Oehlandt & Co acted as deal advisor to Mekitec and its main shareholders. July 2021.
MCF Group Estonia OÜ, which is building the largest data center in the Baltics, has been acquired 3SIIF.
The Three Seas Initiative Investment Fund (3SIIF) is a fund for infrastructure investment planning in Central and Eastern Europe, focusing on the energy, transport and digital infrastructure sectors.
MCF’s data center is to be opened near Tallinn in 2021 and will have a maximum capacity of up to 20 MW. 3SIIF acquired MCF through Greenergy Data Centers OÜ.
Estonia has one of the highest cloud penetration rates for enterprises in Europe and the government is also a strong supporter of digitalisation with many innovative initiatives. The goal of 3SIIF is to establish energy-efficient data centers in Central and Eastern European countries, and the acquisition of MCF is a first very strategic step. 3SIIF and Amber Infrastructure, the investment adviser to 3SIIF, believe that in light of growing data volumes, there is a demand for modern data centers in the entire Central and Eastern European region that are energy efficient and meet the highest security requirements.
The Sellers of MCF were Finnish and Estonian private investors and family offices, who funded the project from the establishment of the company in 2016. Pictures from the roofing party of the data center, held in September 2020, can be found below.
MCF’s home page can be found here https://www.mcfestonia.com/home/
For 3SIIF’s press release, please visit https://3siif.eu/news/the-three-seas-fund-makes-its-first-digital-investment
Amber Infrastructure’s press release https://amberinfrastructure.com/news/press-releases/2020/three-seas-initiative-investment-fund-makes-its-first-digital-investment/
An article by the Estonian newspaper Postimees: https://majandus24.postimees.ee/7123949/euroopa-fond-ostab-ara-eesti-suurima-andmekeskuse
LinkedIn post by MCF’s co-Founder and Chairman Tero Viherto: https://www.linkedin.com/posts/tero-viherto-89b5338_estonian-company-acquires-largest-data-center-activity-6740932955352375297-CMLh
Oehlandt & Co acted as the exclusive financial adviser to the Sellers.
December 2020.
The Finnish technology company FocalSpec has been acquired by TKH Group NV, a Dutch listed technology company.
FocalSpec is a global pioneer in designing and manufacturing high-precision, high-speed optical sensors. Their unique and patented Line Confocal Imaging (LCI) technology is used in diverse, demanding quality assurance applications e.g. in the electronics industry. During 2019, FocalSpec made a breakthrough in mobile device manufacturing. FocalSpec was founded in 2009 as a spin-off from VTT, the National Technical Research Institute of Finland and is headquartered in Oulu, Finland. Apart from VTT Ventures, the company owners included Nordic Option, Veritas Pension Insurance, Sauli Törmälä as well as several other private investors.
TKH Group is a Dutch listed technology company focused on high-end innovative technologies in high growth markets. Employing more than 6,500 people, TKH achieved a turnover of € 1.6 billion in 2018. With this acquisition, TKH Group expands its vision technology with industry-leading confocal technology that solves applications in markets such as consumer electronics, battery, pharma, semiconductor and medical. FocalSpec will join the LMI Technologies group and operate under the LMI brand – a global leader in 3D inline scanning and inspection. FocalSpec’s R&D will gain additional resources and platforms from the LMI Group’s existing metrology operations. FocalSpec’s sales organization will be strengthened as the products will get access to the LMI Group’s sales network globally.
Oehlandt & Co acted as financial advisor to FocalSpec and its owners in this transaction.
October 2019
Ecosir Group Ltd, a company providing automatic waste and laundry transfer systems to the health care and residential sectors, was sold to an international group of investors from Asia and Europe.
Ecosir Group’s main owners prior to the transaction was Panostaja plc and the CEO of the company, who will remain CEO and owner of the company also after the trade sale. Ecosir Group had already during the previous ownership structure closed significant projects abroad, e.g. in China, Malaysia and Kuwait. With the new owners, the international growth of the company is expected to accelerate further.
Panostaja’s release about the sale can be read here (in Finnish).
Oehlandt & Co acted as the financial adviser to the sellers in the transaction. November 2018.
JOT Automation, a company based in Oulu, Finland providing test automation and robotics to the electronics industry, was sold to Chinese Suzhou Victory Precision Manufacture Co., Ltd. The acquiring company is listed on the Shenzhen Stock Exchange.
Revenue for JOT Automation amounted to EUR 76 million and operating profit (EBIT) to over EUR 8 million in 2017.
JOT Automation’s press release on the sale can be read here, and the press release of the main owner of JOT Automation, Head Group, can be found here.
Oehlandt & Co was financial advisor to the target, JOT Automation, and its owners in the cross-border M&A transaction.
The transaction was completed in June 2018.
JOT Automation’s business unit that combines robotics, machine vision and sensor and software technology in mechanical engineering and automates critical phases of manufacturing, was incorporated. Verso Ventures, a Finnish private equity company, became the main owner of the newly established Flexmill Ltd. and JOT Automation continues as a minority owner.
JOT Automation’s press release can be found here.
Oehlandt & Co acted as financial adviser to JOT Automation.
July 2017
Oehlandt & Co acted as the financial advisor to JOT Automation in a transaction where Global Equipment Services Inc (GES) became investor in and strategic partner of JOT Automation.
As a part of the ownership arrangement, GES and JOT Automation have agreed on a strategic partnership, where JOT Automation outsources mass production of its equipment to GES.
JOT is a pioneer in automation and testing solutions for electronics production, while GES offers equipment design, manufacturing, and maintenance services, especially for the semiconductor industry.
JOT’s press release can be read here and GES’ release is found here.
Oehlandt & Co acted as the financial advisor to JOT Automation in the transaction. January 2017.
The majority in Aaltovoima sold to Norwegian Personalhuset.
The majority in Aaltovoima, a company providing personnel and recruitment services, was on 30th December 2016 sold to Personalhuset Staffing Group from Norway. The estimated revenue of Aaltovoima in 2016 amounts to over 10 MEUR and together with the new partner, the strong growth is expected to continue. Aaltovoima is a leading staffing company in the construction, building service technology and industry segments, and it complements Personalhuset’s current operations in Finland. Aaltovoima’s current owners continue as shareholders in the company.
Oehlandt & Co acted as the financial adviser to the sellers.
Aaltovoima’s press release can be read here (in Finnish) and Personalhuset’s stock exchange release here.
December 2016.
Rollock, developing IoT smart locks, raised four million financing advised by Oehlandt & Co
Different financing options from crowd funding to domestic and international venture capital companies were analysed. The option that was actualized was a combination of a directed share issue to private investors with industrial background bringing added value to the company on one hand, and junior and senior bank debt on the other hand. In addition to this, Rollock’s existing convertible loan was rearranged.
Rollock’s press release can be found here.
This was the second financing round where Oehlandt & Co acted as financial adviser to Rollock. December 2016.
