Sorainen Estonia advised OpusCapita – a Finnish company focusing on automating and digitalizing customer procurement, invoicing and payment – on divestment of its Finance and Accounting Outsourcing business (FAO) to Longship, a Norwegian private equity investor. The divestment was announced on 4 May 2017. The value of the transaction is undisclosed.
In total, 800 employees in 8 countries were transferred to the new company with current terms and conditions of employment. After closing, OpusCapita employs 1,300 professionals in 9 countries.
The divestment is an important strategic step for OpusCapita, allowing focus on its core transaction and software businesses. For the divested FAO business, the arrangement enables further development of operations with a clearer customer focus and growth plan.
The Sorainen team, headed by partner Toomas Prangli with senior associate Piret Lappert and associates Kai Vainola and Mirjam Vichmann, acted as the Baltic legal advisor to OpusCapita.