We assisted the Swedish-based company Storskogen in acquiring a majority of the shares in Scandia Steel – a leading Scandinavian supplier of steel pipe piles in foundation and foundation reinforcements.
Manufacturing takes place in Kretinga, Lithuania
Scandia Steel has 94 employees and a turnover of almost EUR 40 million. The company’s product development and sales are managed from the head office in Stockholm, while manufacturing and product testing take place in Kretinga, Lithuania. Thorulf Hamfors, the CEO of Scandia Steel, will remain in his operational role after the acquisition.
“We are very pleased to have acquired Scandia Steel. It is a well-run company in an exciting industry with a very strong position in the market, a profitable business model, high competence and long-term relationships with its suppliers and customers,” says Fredrik Bergegård, EVP and Business Area Manager for Industry at Storskogen.
Our services and project team
Our team, working with DLA Piper Sweden as lead counsel, carried out legal due diligence of Scandia Steel’s subsidiary in Lithuania and advised on other transaction-related matters. Our team consisted of partners Algirdas Pekšys and Asta Augutytė-Rapkevičienė, counsels Evaldas Dūdonis and Monika Mališauskaitė-Vaupšienė, senior associate Indrė Pelėdaitė, and associates Juliana Pavilovska and Lukas Vaišvila, as well as legal assistant Lukrecija Urnevičiūtė.