Hartwall Capital acquires SUEZ Finland waste management operations

Hartwall Capital Oy Ab has signed an agreement with SUEZ Recycling AB to acquire SUEZ Suomi Oy, comprising the Finnish operations of SUEZ Group.

The Company has been operating in Finland since 1964, and has been part of the SUEZ Group since 1998. With revenues of EUR 71 million in 2015 and approximately 300 employees, SUEZ Finland is one of the leading waste management companies in Finland. Through its nationwide network, a fleet of over 200 vehicles and eight own treatment facilities, the company provides a comprehensive waste management offering for commercial customers, as well as municipalities and households. In addition to waste collection services, the company offers pre-treatment services for a number of waste fractions, including e.g. cardboard, paper, construction and demolition waste. The treated waste fractions are utilized as secondary raw materials, as a source of energy, or delivered to appropriate end treatment.

Eeva Ahdekivi, CEO of Hartwall Capital, comments: “SUEZ Finland’s market position and operations are solid, while the company has good opportunities for growth in the long term. The need and requirements for recycling and use of secondary raw materials will continue to grow. SUEZ Finland fits well Hartwall Capital’s strategy as a focused, long term owner of selected holdings where an active owner can help create value.  We are impressed with the work done by the management team and will support them and the company in the next growth phase.”

Jorma Kangas, CEO of SUEZ Suomi Oy, comments: ”In recent years SUEZ Finland has been successful in improving the profitability of the company, while also taking a good position in the growing commercial waste segment. With the support of our new owner, we can further focus on growth by proactively seeking to expand our service offering and by addressing emerging customer needs in our industry.”

The transaction is expected to close by the end of the year. The parties have agreed not to disclose the terms of the transaction. The name and brand of SUEZ Finland will be changed during 2017 as the company separates from the parent group, the new name will be announced in the first half of 2017. The transaction has no direct impact on the operations of the company which will continue as before. The contact details and customer service contacts for the company will remain unchanged.

Hartwall Capital is a Finnish family-owned investment company, who makes direct equity investments in selected listed and non-listed companies. Hartwall Capital aims to create value in the companies it invests in through active ownership and by supporting the growth plans of the companies. Hartwall Capital controls a portfolio of investments valued at over EUR 700 million, with direct equity investments in eight companies.

EY Corporate Finance, Hannes Snellman, Deloitte and Vahanen have acted as advisers to Hartwall Capital in connection with the transaction, financing is being arranged by Nordea.

For additional information, please contact:
Jussi Salokangas, Chief Investment Officer, Hartwall Capital
call requests tel. +358 9 6818 560