We advised DOORopener on acquiring a 50% stake in MCC Group. As a result of this transaction, Hansa Candle, the largest candle manufacturer in the Baltics and one of the largest employers in Viljandi, Estonia, will now have one owner. The transaction is financed by Coop Pank.
Founded in 1996, Hansa Candle is one of the largest candle manufacturers in Europe. The company mainly produces indoor and outdoor candles and, to a lesser extent, igniters. The company owns a factory in Viljandi that employs 124 people. Hansa Candle’s products are represented both in Estonia and abroad, and most of the revenue comes from export markets.
Strong plans for growth
Tarvo Moss said that the buyer will have a strong company with a dedicated team. “Hansa Candle is in an excellent financial condition and with great development potential, whose products and services are highly valued by customers. The years 2019-2020 have been the best in the company’s 25-year history. I sincerely thank all our good employees for their cooperation and trust!” said Moss.
Harri Juhani Aaltonen, the manager of Hansa Candle and the manager of the new owner DOORopener, said that Hansa Candle has shown good growth in recent years. “Major part of sales revenue comes from exports, our products can be found in almost every European city but also in the USA, for example. I intend to further develop the company by expanding the product portfolio and further increasing the visibility of Hansa Candle’s products in export markets,” said Aaltonen.
Our services and project team
We are supporting DOORopener throughout the transaction, including negotiating the terms of the deal and participating in the preparation of the transaction documents. We also continue to support the client in matters related to closing the deal.
Our client team includes partner Karin Madisson and senior associate Robin Teever.