Author: Aurora

Waste management company Remeo’s new brand highlights core focus on circular economy


Remeo Oy, formerly known as SUEZ Finland, has renewed its name and brand during the first half of 2017 as part of its move to Hartwall Capital’s ownership in late 2016. The Latin translation of the new name is ‘return’, which together with the slogan – Ajattele. Uudestaan. (translation: Think. Again.) – tells about Remeo’s role in advancing the circular economy and the development of a resource-saving society.

Recycling is a growing phenomenon and business activity. The circular economy is also one of the government’s top projects and has significant growth potential.

“We see that this market has positive long-term growth trends,” says Jussi Salokangas, Chief Investment Officer at Hartwall Capital. “Finland is at the forefront of many developments, but in recycling we are lagging behind, for example, the other Nordic countries. At the same time, Finland and the EU have set high targets for the development of recycling rates in the short and long term. We believe that growth prospects for the industry are good.”

“Companies like Remeo are the enablers of the circular economy, and play a critical role in the reuse of materials, for example the recycling of fibers, plastics, glass and metal to domestic raw material. The need and demand from industrial producers to use secondary raw materials is growing all the time.”

“We have, above all, bought the company to support its growth. There are many opportunities for growth,  Remeo can grow geographically, by expanding the service offering or through acquisitions.”

“Hartwall Capital is a long-term Finnish owner and we want to support the growth and development of Finnish companies in the long term,” says Salokangas.

Remeo’s CEO Jorma Kangas sees the ownership change as a starting point for a strong development stage in the company.

“A strong and involved domestic owner provides an excellent base for Remeo’s long-term development. Hartwall Capital is actively contributing to organic growth, and suitable acquisitions for are also clearly on the agenda. The recently renewed Public Procurement Act and the ongoing reform of the Waste Act will further open up the market and create opportunities for free competition.” says Remeo CEO Kangas.


Remeo employs around 350 waste management professionals and the company’s net sales in 2016 were approximately 74 million euros. Remeo operates a fleet of over 200 specialty vehicles. Remeo has offices in Vantaa, Riihimäki, Tampere, Heinola, Lahti, Porvoo, Kotka, Turku, Vaasa, Uusikaupunki, Lappeenranta, Seinäjoki, Vihanti and Ylivieska. Remeo has nine recycling and pre-treatment facilities throughout Finland. Materials recycled and pre-treated at the plants are delivered to the appropriate final processing or utilised as industrial raw materials.

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

HC Ventures exited Finex

HC Ventures has sold its shares in Finex Plc to Johnson Matthey Plc 1st of June 2016.

For further information, please contact:
Mats Therman, Managing Director, HC Ventures +358 (0)9 6818 5617

Hartwall Capital reinvests in the beverage industry

Hartwall Capital has decided to reinvest in the beverage industry by supporting Royal Unibrew A/S in its acquisition of the beverage company Oy Hartwall Ab. Hartwall Capital will, at closing of the deal, acquire up to a total of 1.046.000 shares in Royal Unibrew, corresponding up to 9.09% of the share capital after the issue. Hartwall Capital will become Royal Unibrew’s second largest owner after Chr.Augustinus Fabrikker A/S.

“During the acquisition process we have gained strong confidence in Royal Unibrew and its management. Royal Unibrew is today one the most profitable companies in the European beverage industry. We see this as a good opportunity to participate in developing a strong beverage corporation in the Nordic and Baltic region”, said Bertel Langenskiöld, Managing Director of Hartwall Capital.

For further information, please contact:
Bertel Langenskiöld, Managing Director, tel. +358 9 6818 560
Tom von Weymarn, Chairman of the Board, tel. +358 9 6818 560

Eeva Ahdekivi appointed Managing Director of Hartwall Capital

M.Sc (Econ.) Eeva Ahdekivi, 48, has been appointed Managing Director for Hartwall Capital Ltd as of the 1st of September 2015. Eeva Ahdekivi has previously worked as Investment Director of Solidium Ltd in 2009-2015 and as Senior Financial Specialist in Government Ownership Steering Department of the Prime Minister’s Office in 2007-2009. Prior to these Ahdekivi worked as Director at Pohjola Asset Management Ltd in 2004-2006 and as Partner for Conventum Oyj in 1997-2002.

Hartwall Capital´s current Managing Director Bertel Langenskiöld, 64, will retire on 30th of September 2015 in accordance with original agreement.

For further information, please contact:
Tom von Weymarn, Chairman of the Board: +358 400 212386
Ole Johansson, Deputy Chairman of the Board: +358 40 7544360

Hartwall Capital exited Cramo

Hartwall Capital has today sold its shares in Cramo Plc to Zeres Capital AB.

For further information, please contact:
Bertel Langenskiöld, Managing Director, +358 (0)9 6818 5611

Merger of Karelia-Upofloor and Kährs approved

Kährs and Karelia-Upofloor have received competition authorities´ approval to merge. Kährs and Karelia-Upofloor announced in October the intention to merge and create Europe’s leading wood floor producer. According to the agreement, the merger was conditional upon approval by relevant competition authorities. The condition has now been fulfilled and the merger has been completed.

For further information, please contact:
Bertel Langenskiöld, Managing Director: +358 (0)9 6818 560

Karelia-Upofloor and Kährs to merge

Swedish company AB Gustaf Kähr (“Kährs”) and Finnish company Karelia-Upofloor Oy (“Karelia-Upofloor) today announces a merger of the two companies, creating Europe’s leading producer of wood floors. The new company will be market leader in Sweden, Norway, Finland and Russia, and will hold strong positions in other important markets such as Great Britain and Germany. The new company will have revenues of around 300 million euro.

”We bring two companies together with complementary products and geographies. As a long-term shareholder we believe that the merged company will be a more competitive player on a fragmented market. Together the companies will be in a stronger position to compete under challenging market conditions”, said Bertel Langenskiöld, Managing Director of Hartwall Capital.

Kährs’ principal owner, Triton Fund III, will be majority owner of the new company. Hartwall Capital, will be the second largest owner followed by the management. Hartwall Capital has owned Karelia-Upofloor since 2004.

The merger is conditional upon approval by the relevant competition authorities.

For further information, please contact:
Bertel Langenskiöld, Managing Director: +358 (0)9 6818 560

Hartwall Capital buys the Lampa house in central Helsinki

The Finnish family-owned investment company Hartwall Capital Ltd has today bought the Lampa house in central Helsinki from Hotelli Helena Oy’s bankruptcy estate.

Hartwall Capital intends to open the property’s street level for the public and to use the office space of the property for the company´s business operations. Remaining commercial and office space will be offered for rent.

The objective is to renovate and restore the building with respect for its cultural and historic background. Hartwall Capital also wants to participate in responsible development and revitalization of the important historic area of central Helsinki in accordance with the objectives of the City of Helsinki.

Renovation of the property will start in the summer of 2012 and is expected to be completed during the summer of 2013.

Bertel Langenskiöld, Managing Director, said: “In 1836, the beverage company Hartwall started its business operations in the same quarters in the Sederholm House. With our roots in the City of Helsinki and with Helsinki always having played an important role in the history of the company, we have a natural interest in participating in the development of this historic part of Helsinki.”

For further information, please contact:
Guy Reinikainen, CFO: +358 (0)9 6818 560