Sorainen has advised Estonian wood manufacturing company Ha Serv and its majority owner Livonia Partners’ EuVECA in the acquisition of Suomen Lampopuu, a Finnish manufacturer of thermo-treated wood products.
Suomen Lampopuu — one of the world’s first manufacturers of ecological thermo-treated wood products — generated over EUR 6 million in sales annually. Its manufacturing facility has over 30 employees and is based in Teuva, Finland. The company exports 90% of its production to more than 20 countries worldwide.
“With this add-on investment, Ha Serv is entering a new phase of expansion,” Livonia founding partner Kaido Veske said. Marko Kevvai, Ha Serv’s CEO added that the acquisition boosts the company’s geographic reach, customer base and product portfolio in the thermowood industry.
Livonia Partners is a private equity investment firm investing in growing and well-managed medium-sized companies in the Baltics and currently managing EUR 83 million. Sorainen previously advised Livonia Partners on its acquisition of Ha Serv — a leading manufacturer of wooden sauna components, custom ready-made saunas, and thermo-treated wood materials — in February 2016 (as reported by CEE Legal Matters on February 22, 2016). Ha Serv serves customers in more than 25 countries and reports annual sales of over EUR 20 million.
The Sorainen team was led by Partner Pekka Puolakka and Senior Associate Juulika Aavik.