Hartwall Capital to invest in leading Finnish B2B car leasing operator Secto Automotive

30.8.2024Uncategorized

Hartwall Capital makes an investment in Secto Automotive, a Finnish B2B vehicle leasing company, to support its continued growth. The investment is made in partnership with Secto’s Founder Matias Henkola, who continues as a significant shareholder of Secto.

Since its founding in 2007, Secto has grown to become a market leading B2B car leasing company in Finland and currently manages a fleet of over 10,000 vehicles. The company challenges traditional car ownership models and creates new solutions based on customer needs. Principles of sustainable development and the transition away from fossil fuels guide Secto's business operations.

– We are thrilled to announce our investment in Secto Automotive. Secto’s unique service concept, high customer satisfaction, and innovative approach to supporting sustainable driving provide a strong foundation for accelerating growth and becoming the market leader in Finland. We look forward to working closely with Matias Henkola and Secto’s talented and ambitious team to accelerate Secto’s mission of setting new standards in sustainability, customer care and creating sustainable value in the Finnish B2B car leasing industry, says Hartwall Capital’s Managing Director Pekka Puustinen.
The transaction is subject to customary regulatory approvals.

Hartwall Capital is a Finnish family-owned investment company committed to supporting ambitious Nordic small and medium-sized enterprises. Hartwall Capital's investment strategy is based on active and flexible partnerships that meet the specific requirements of each investment target. Hartwall Capital is a long-term partner, working closely with management and founders, with the goal of sustainable value growth through active ownership.

Contact information:
Viktor Grandell
Communications Manager
+358456579659
viktor.grandell@hartwallcapital.fi

Secto Automotive press release (FI)
Secto Automotive

by Viktor

Hartwall Capital has sold its entire holding in Konecranes

16.5.2023Uncategorized

HC Holding Ltd ("HC Holding"), a company ultimately owned by Hartwall Capital Ltd, has sold its entire holding of 7,931,238 shares, representing approximately 10.01% of the total share capital in Konecranes Plc ("Konecranes") (the "Share Sale").

HC Holding has no residual position in Konecranes following the Share Sale.

- Hartwall Capital has been a major shareholder in Konecranes since 2009 and we are very proud of Konecranes’ growth and progress during our ownership to become a global leader in material handling solutions across industrial and ports segments. We wish them every success in their next phase of growth as they embark on delivering on their updated strategy set out by CEO Anders Svensson, says Hartwall Capital’s Managing Director Pekka Puustinen.

Carnegie Investment Bank AB, Finland Branch and Goldman Sachs International acted as Joint Global Coordinators and Joint Bookrunners in the Share Sale.

Contact information:
Viktor Grandell
Communications Manager
Telephone: +358 45 657 9659

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, HONG KONG, SOUTH AFRICA, NEW ZEALAND, SINGAPORE OR JAPAN OR IN ANY OTHER JURISDICTION IN WHICH PUBLICATION OR DISTRIBUTION WOULD BE PROHIBITED BY APPLICABLE LAW.

IMPORTANT INFORMATION

THIS ANNOUNCEMENT HAS BEEN MADE FOR INFORMATION PURPOSES ONLY AND SHALL NOT CONSTITUTE AN OFFER TO BUY, SELL, ISSUE OR SUBSCRIBE FOR, OR THE SOLICITATION OF AN OFFER TO BUY, SELL, ISSUE OR SUBSCRIBE FOR ANY SECURITIES, NOR SHALL THERE BE ANY SALE OF SECURITIES IN ANY JURISDICTION IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL PRIOR TO REGISTRATION OR QUALIFICATION UNDER THE SECURITIES LAWS OF ANY SUCH JURISDICTION. NEITHER THIS ANNOUNCEMENT NOR THE INFORMATION CONTAINED HEREIN IS FOR PUBLICATION, DISTRIBUTION OR RELEASE, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, HONG KONG, JAPAN, NEW ZEALAND, SOUTH AFRICA OR SINGAPORE OR ANY OTHER JURISDICTION IN WHICH PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.
Hartwall Capital Oy Ab and HC Holding Oy Ab (collectively, the "Seller") have not authorised any offer of securities to the public in the United Kingdom or any Member State of the European Economic Area (the "EEA"). No action has been taken or will be taken to make any offer of securities to the public requiring publication of a prospectus. Any securities may in the United Kingdom and Member States of the EEA only be offered (i) to any legal entity which is a qualified investor as defined in the Prospectus Regulation (a "Qualified Investor") or (ii) in any other circumstances falling within Article 1(4) of the Prospectus Regulation. "Prospectus Regulation" means Regulation (EU) 2017/1129 (as amended) (and in case of the United Kingdom, as it forms part of domestic law in the United Kingdom by virtue of the European Union (Withdrawal) Act 2018). For the purposes of this paragraph, "offer of securities to the public" means a communication to persons in any form and by any means, presenting sufficient information on the terms of the offer and the securities to be offered, so as to enable an investor to decide to purchase or subscribe for those securities.
Pursuant to the Prospectus Regulation, this release is an "advertisement" and not a prospectus for the purposes of the Prospectus Regulation.
In the United Kingdom, this release is directed only at Qualified Investors within the meaning of Article 2(e) of the Prospectus Regulation, as it forms part of domestic law in the United Kingdom by virtue of the European Union (Withdrawal) Act 2018, who are (i) persons who are investment professionals within the meaning of Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended) (the "Order") or (ii) high net worth entities, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a)–(d) of the Order (all such persons together being referred to as "Relevant Persons"). Any investment activity to which this release relates will only be available to and will only be engaged with, Relevant Persons. Any person who is not a Relevant Person or a Qualified Investor should not act or rely on this release or any of its contents.
This announcement does not contain or constitute an offer to sell, or a solicitation of an offer to purchase, any securities in the United States (including its territories and possessions, any state of the United States and the District of Columbia). The securities referred to herein may not be offered or sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended. The Seller does not intend to register any of the securities in the United States or to conduct a public offering of the securities in the United States.
Carnegie Investment Bank AB, Finland Branch ("Carnegie") is acting on behalf of the Seller and no one else in connection with the Share Sale and will not be responsible to any other person for providing the protections afforded to clients of Carnegie or for providing advice in relation to the Share Sale.
Goldman Sachs International ("GSI"), which is authorised in the United Kingdom by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority, is acting as a Joint Bookrunner for the Seller and no-one else in connection with the Share Sale. Neither GSI nor its affiliates, nor their respective partners, directors, officers, employees or agents are responsible to anyone other than the Seller for providing the protections afforded to clients of GSI or for providing advice in connection with the Share Sale described in this announcement or for any other matters referred to herein.

by Viktor

Hartwall Capital announces its intention to sell up to approximately 7.9 million shares in Konecranes

15.5.2023Uncategorized

May 15, 2023

HC Holding Ltd ("HC Holding"), a company ultimately owned by Hartwall Capital Ltd, announces its intention to sell up to approximately 7.9 million shares in Konecranes Plc ("Konecranes" or the "Company") (the "Share Sale") to Finnish and international institutional investors.

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, HONG KONG, SOUTH AFRICA, NEW ZEALAND, SINGAPORE OR JAPAN OR IN ANY OTHER JURISDICTION IN WHICH PUBLICATION OR DISTRIBUTION WOULD BE PROHIBITED BY APPLICABLE LAW.

HC Holding Ltd ("HC Holding"), a company ultimately owned by Hartwall Capital Ltd, announces its intention to sell up to approximately 7.9 million shares in Konecranes Plc ("Konecranes" or the "Company") (the "Share Sale") to Finnish and international institutional investors.
Prior to the Share Sale, HC Holding owns 7,931,238 shares in the Company, corresponding to approximately 10.01% of the outstanding shares in Konecranes.
The Share Sale will be carried out through an accelerated book-building process, with the final number of shares sold and sale price to be determined through such process. Books are open with immediate effect and may be closed at short notice. The result of the Share Sale will be published on or about May 16, 2023.
Carnegie Investment Bank AB, Finland Branch and Goldman Sachs International are acting as Joint Global Coordinators and Joint Bookrunners in the Share Sale.

Contact information:
Hartwall Capital
Telephone: +358 9 681 8560

Viktor Grandell
Communications Manager
Telephone: +358 45 657 9659

IMPORTANT INFORMATION
THIS ANNOUNCEMENT HAS BEEN MADE FOR INFORMATION PURPOSES ONLY AND SHALL NOT CONSTITUTE AN OFFER TO BUY, SELL, ISSUE OR SUBSCRIBE FOR, OR THE SOLICITATION OF AN OFFER TO BUY, SELL, ISSUE OR SUBSCRIBE FOR ANY SECURITIES, NOR SHALL THERE BE ANY SALE OF SECURITIES IN ANY JURISDICTION IN WHICH SUCH OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL PRIOR TO REGISTRATION OR QUALIFICATION UNDER THE SECURITIES LAWS OF ANY SUCH JURISDICTION. NEITHER THIS ANNOUNCEMENT NOR THE INFORMATION CONTAINED HEREIN IS FOR PUBLICATION, DISTRIBUTION OR RELEASE, IN
WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, HONG KONG, JAPAN, NEW ZEALAND, SOUTH AFRICA OR SINGAPORE OR ANY OTHER JURISDICTION IN WHICH PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.
Hartwall Capital Oy Ab and HC Holding Oy Ab (collectively, the "Seller") have not authorised any offer of securities to the public in the United Kingdom or any Member State of the European Economic Area (the "EEA"). No action has been taken or will be taken to make any offer of securities to the public requiring publication of a prospectus. Any securities may in the United Kingdom and Member States of the EEA only be offered (i) to any legal entity which is a qualified investor as defined in the Prospectus Regulation (a "Qualified Investor") or (ii) in any other circumstances falling within Article 1(4) of the Prospectus Regulation. "Prospectus Regulation" means Regulation (EU) 2017/1129 (as amended) (and in case of the United Kingdom, as it forms part of domestic law in the United Kingdom by virtue of the European Union (Withdrawal) Act 2018). For the purposes of this paragraph, "offer of securities to the public" means a communication to persons in any form and by any means, presenting sufficient information on the terms of the offer and the securities to be offered, so as to enable an investor to decide to purchase or subscribe for those securities.
Pursuant to the Prospectus Regulation, this release is an "advertisement" and not a prospectus for the purposes of the Prospectus Regulation.
In the United Kingdom, this release is directed only at Qualified Investors within the meaning of Article 2(e) of the Prospectus Regulation, as it forms part of domestic law in the United Kingdom by virtue of the European Union (Withdrawal) Act 2018, who are (i) persons who are investment professionals within the meaning of Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended) (the "Order") or (ii) high net worth entities, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a)–(d) of the Order (all such persons together being referred to as "Relevant Persons"). Any investment activity to which this release relates will only be available to and will only be engaged with, Relevant Persons. Any person who is not a Relevant Person or a Qualified Investor should not act or rely on this release or any of its contents.
This announcement does not contain or constitute an offer to sell, or a solicitation of an offer to purchase, any securities in the United States (including its territories and possessions, any state of the United States and the District of Columbia). The securities referred to herein may not be offered or sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended. The Seller does not intend to register any of the securities in the United States or to conduct a public offering of the securities in the United States.
Carnegie Investment Bank AB, Finland Branch ("Carnegie") is acting on behalf of the Seller and no one else in connection with the Share Sale and will not be responsible to any other person for providing the protections afforded to clients of Carnegie or for providing advice in relation to the Share Sale.
Goldman Sachs International ("GSI"), which is authorised in the United Kingdom by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority, is acting as a Joint Bookrunner for the Seller and no-one else in connection with the Share Sale. Neither GSI nor its affiliates, nor their respective partners, directors, officers, employees or agents are responsible to anyone other than the Seller for providing the protections afforded to clients of GSI or for providing advice in connection with the Share Sale described in this announcement or for any other matters referred to herein.

by Viktor

Mikael Riedel joins Hartwall Capital

3.2.2023Uncategorized

Finnish, family-owned investment company Hartwall Capital has appointed M.Sc. (Tech) Mikael Riedel as Investment Associate, starting in February.

Riedel has a strong background in management consulting, recently at Boston Consulting Group as part of the Private Equity team, working closely with local and international private equity investors across a range of sectors.

At Hartwall Capital, Riedel will strengthen our investment team by adding his efforts to our day-to-day operations.

by Viktor

Hartwall Capital invests in Vastuu Group's growth

1.2.2023Uncategorized

The family-owned investment company Hartwall Capital has made an investment in Vastuu Group on January 31, 2023. Vastuu Group and its subsidiaries are investing in customer value and growth. The company aims to expand its service offering in the domestic market in the near future and simultaneously prepare for gradual internalization. The financing from Hartwall Capital enables Vastuu Group to invest in achieving company’s long-term strategic goals.

– We are very excited about the cooperation with Hartwall Capital. They will bring us the competence and know-how that our company needs at this stage of development. Furthermore, we appreciate Hartwall Capital as a Finnish family-owned company. We share common values, and we both aim to invest in developing the company’s business in the long term, says Lars Albäck, CEO of Vastuu Group.

–Vastuu Group is in a very interesting phase. By developing and expanding its current service offering, Vastuu Group will unlock an enormous growth potential. The data-sharing technologies developed by the company are ready for commercialization, and Vastuu Group has, according to our view, potential to expand in the global markets, as well. We are happy to take the company to the next stage together with Vastuu Group’s team and the other company owners, says Niko Mokkila, Managing Director and Head of Investments at Hartwall Capital.

Responsibility and transparency as the cornerstones of the business

At Vastuu Group the corporate responsibility plays an important role in company’s strategy and business model and transferring of reliable data is at the very core of its business. The company focuses on providing services, which improve trust, transparency and verified responsibility within the society and which help its customers to comply with their legal obligations. As a neutral partner the company can serve entire industries and act as a bridge-builder in the cooperation between different industries.

– Responsibility and curbing the grey economy are increasingly topical in both the construction and investment industries. Through our investment, we want to help advance both subjects, says Mokkila.

In the company’s service portfolio responsibility can be seen above all in the Reliable Partner service. The service proves the responsible relationship with society and its other actors of both the major players and the private entrepreneurs in the construction industry. It also makes companies’ operations more transparent. Being a Reliable Partner is strong evidence of all that to the entire market.

– Hartwall Capital is a perfect addition to Vastuu Group’s current owners, which mainly consists of real estate and construction industry associations. Vastuu Group will have a strong, family-owned company as a new co-owner, who will actively take part in developing the business and create significant added value for the next development phases. As the company’s name suggests, Vastuu Group helps its customers to act responsibly and transparently. That is not only remarkable for the society, but also a fantastic opportunity for growth, says Jukka Ruuska, Vastuu Group’s Chairman of the Board.

by Viktor

Pekka Puustinen joins Hartwall Capital

27.1.2023Uncategorized

Hartwall Capital is strengthening its leadership team by welcoming Pekka Puustinen as Managing Director, Co-Head of Investments.

Hartwall Capital has appointed Pekka Puustinen as Managing Director, starting in February. Puustinen will be responsible for the company’s investment operations alongside Managing Director Niko Mokkila and become a member of Hartwall Capital’s management team, reporting directly to the Board of Directors.

Puustinen has extensive experience in the European private equity industry. He joins Hartwall Capital from the global private equity firm Pamplona Capital Management, where he spent 13 years and was a Partner based in London, responsible for investments in Europe across a range of sectors. Puustinen started his career at Morgan Stanley working in TMT and Leveraged Finance teams. He holds a M.Sc. (Econ) degree from Helsinki School of Economics.

According to Hartwall Capital’s Chairman of the Board Michael Rosenlew, Puustinen is an important building block for the long-term development of Hartwall Capital.
“Adding a member of Puustinen’s calibre and experience to our team will enable the next phase in Hartwall Capital’s development and I have strong expectations of what we will be able to achieve going forward”, says Rosenlew.

Puustinen added: “I’m excited to be joining an investment firm with such an outstanding heritage and strong team. After seventeen years abroad, I’m looking forward to the opportunity to work with Finnish companies and entrepreneurs to help them expand their businesses both domestically and internationally.”

Additional information:

Michael Rosenlew, Chairman of the Board
Contacts via:
Executive Assistant Karen Granvik (+358 9 6818 5610)

Pekka Puustinen, Managing Director
Contacts via:
Email: pekka.puustinen@hartwallcapital.fi
Mobile: +358 40 676 3474

by Viktor

Remeo acquires Delete Ympäristöpalvelut Oy

23.6.2022News

Finnish circular economy company Remeo has signed an agreement to acquire the entire share capital of Delete Ympäristöpalvelut Oy. The acquisition supports Remeo’s growth strategy by expanding its network of recycling centers and adding to its service portfolio as well as growing its construction and demolition waste management business.

Following the acquisition, Delete Ympäristöpalvelut Oy's business operations will be wholly owned by the Remeo Group.

Delete's recycling centers will be part of Remeo's comprehensive network, which will expand Remeo's capacity for receiving and treating recyclable materials.

The acquisition is planned to be completed during week 26.

by Viktor

Hartwall Capital invests in Duell Oyj

1.12.2021News

Following Duell Oyj:s IPO, Hartwall Capital is the company’s largest owner with 20.56 percent of the shares and votes.

Duell Oyj was listed on Nasdaq Helsinki Oy:s First North Growth Market in the end of November. Following the IPO, Hartwall Capital is the company’s largest owner with 20.56 percent of the shares and votes.

Duell is a leading powersports aftermarket distributor in the Nordics with a rapidly growing presence in the rest of Europe. Duell’s offering covers motorcycle, all-terrain vehicle (ATV), snowmobile, bicycle and marine products, including technical and spare parts and personal equipment, for example clothing and accessories, to dealers across several markets in Europe. Duell offers a broad assortment of products across all of its sales channels for four seasons through its six product categories comprising Onroad motorcycle products, Offroad motorcycle products, ATV products, Snowmobile products, Bicycle products and Marine products.

by Viktor

Hartwall Capital reduces ownership in Terveystalo Oyj 

10.9.2021News

HC Holding Ltd ("Hartwall Capital"), a company ultimately owned by Hartwall Capital Ltd., has sold 6,000,000 shares in Terveystalo Oyj ("Terveystalo") (TTALO), representing approximately 4,69 percent of the total share capital and of the voting rights in Terveystalo. The sale was carried out in an accelerated book-building procedure. The shares were sold to Finnish and international institutional investors.

Following the sale, Hartwall Capital’s holding in Terveystalo is 8,431,690 shares, which represents approximately 6,59 percent of all shares and votes in Terveystalo.

Whilst the sale supports Hartwall Capital’s strategic ambitions, Hartwall Capital remains a significant shareholder in Terveystalo following the sale and continues to support Terveystalo’s long term strategy.

Terveystalo is a leading healthcare service provider in Finland. The Company offers primary and outpatient secondary healthcare services to corporate, private and public sector customers. Hartwall Capital, a Finnish family-owned investment company, has been one of Terveystalo’s shareholders since 2017.

Important notice 

This release is for information purposes only and shall not constitute an offer to buy, sell, issue or subscribe for, or the solicitation of an offer to buy, sell, issue or subscribe for any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.  

by Viktor

"Responsibility is a way of respecting our heritage"

17.3.2021News

Responsible investments have been one of the cornerstones of Hartwall Capital’s operations from the very beginning. In recent years, we have made efforts to integrate the sustainability aspect even deeper into our strategy, as well as to develop tools for effectively managing the portfolio companies’ sustainability strategies and operations through active ownership. One of the results of our efforts is our recent Responsible Investment Policy, which sets out clear guidelines for Hartwall Capital as well as our portfolio companies.

View our Responsible Investment Policy here (PDF)

Responsible investing is about taking the environment, social and governance principles into account in everything we do. Our sustainability approach is deeply rooted in the values of the Hartwall family: social responsibility is one of the most important values of our owner’s and thus, has guided HC’s operations from the very beginning. Our focus is on building sustainable companies and managing them well in order to create value for our owners, environment, our employees as well as other stakeholders. 

– We make choices that improve our society and promote welfare. Letting environmental and social responsibility guide our investments and ownership practices is a way of respecting our heritage, says Antonia Hartwall, representative of the Owner’s Council and member of the owner family’s seventh generation. 

In 2020, Hartwall Capital signed the UN Principles for Responsible Investment (UNPRI) and became a member of FVCA, the industry body for the Finnish venture capital and private equity industry. The partner organizations function as additional support for the development of our processes and for increased transparency, among other things through the best practice and well-proven reporting models the partnerships provide access to. The memberships also allow us to observe the development of ESG-related matters in the investment industry in general as well as provide us an access to the forums in which these matters are discussed and further developed. Hartwall Capital is also a member of the FVCA’s ESG Committee. 

– Through responsible investments, we can contribute to a more efficient resource management, sustainable value creation as well as sustainable development, says Peter Therman, Chairman of the Owners’ Council and Deputy Chairman of Hartwall Capital’s Board.  

– Strengthening our ESG-related processes is a contemporary theme. We are not unique in our endeavour: investors are increasingly looking for investments that actively work for a more sustainable future and can offer solutions that have real, tangible positive impact. Sustainability isn’t a niche anymore, says Antonia Hartwall.  

Sustainable investments play an important part of the companies’ risk management processes due to their lower risk profile – however, the lower risk here does not imply lower returns but the contrary. There are several reasons why a strong ESG focus has a positive impact on the financial results. Credibility in sustainability issues, among other, support expansion into existing markets and gaining foothold in new ones. The sustainability requirements placed on suppliers are becoming increasingly stringent – meeting them creates competitive advantage and enables greater strategic freedom for a company.  

– Several sustainability aspects are also directly linked to reduced costs: energy efficiency and a reduced amount of waste and packaging materials, for example, says Peter Therman. 
Focus on sustainability also offers additional personnel related benefits such as attractive recruitment proposal, more motivated staff, and lower staff turnover.

– Integrating a well-thought-out sustainability strategy into the business has no disadvantages whatsoever. We are in the fortunate position that we do not have to start from scratch or make expensive investments to bring our and the portfolio companies’ operations to a sustainable level: Hartwall Capital has a strong background in the area and our recent Responsible Investment Policy has a natural place in our operations, to support our high ambitions, says Antonia Hartwall.

by Viktor