We advised Finnish state-owned company Vapo on the sale of its wholly owned subsidiary Nevel, to French private investment company Ardian.
Nevel is a leading provider of district heating and industrial energy solutions, owning and operating more than 130 heating and power plants. Nevel is also responsible for the operation of more than 40 district heating networks in Finland, Sweden and Estonia. Nevel expanded to Estonia at the end of last year.
Increasing the company’s growth rate
Ardian is a large private investment house with assets of US 100 billion managed or advised on in Europe, US, Asia and the Middle East.
“Nevel is a perfect fit for our strategy for sustainable energy in the Nordics. We believe our investment further accelerates Nevel’s business development” said Simo Santavirta, Senior Managing Director of Ardian Infrastructure. Ardian sees good preconditions for the company’s development in Finland, Sweden and Estonia, for example in the field of industrial and real estate energy services.
Our transaction team
Our team advised the seller in matters concerning Estonian law. Our client team included partner Paul Künnap, and senior associates Kaspar Endrikson and Mirjam Vichmann, as well as associate Andra Grünberg.