Nordhaven advised in a major European consolidation transaction in forestry and wood processing

22 dec 2022

Nordhaven acted as the sole financial advisor for Pölkky Oy and its owners in the sale of the company to Pfeifer Group GmbH. The combined entity has approximately EUR 1.4 billion in turnover and 13 plants in four countries.

Pölkky Oy is Northern Finland's largest private wood processing company, with around 420 employees and an annual turnover of approximately EUR 200 million. The company was founded in 1968 and is currently held by the 3rd generation of the Virranniemi family.

Pfeifer Group GmbH is an Austrian 3rd generation family company with approximately 2,200 employees across eight locations in Austria, Germany, and the Czech Republic. The company is the European market leader in shuttering panels and pallet blocks as well as one the largest producers of sawn timber, pellets, formwork beams, and glulam. The key strategic rationale for the transaction is synergistic growth as well as diversification of Pfeifer Group's operations.

"This transaction secures the execution of Pölkky's growth strategy going forward. The outcome for the sellers and for the future of Pölkky is excellent! We are once again extremely satisfied with Nordhaven's outstanding work - including their thorough understanding of the forest industry and our business", says Petteri Virranniemi, CEO of Pölkky Oy.

"It was an honour to support Pölkky and its owners in this strategic transaction. We are grateful for Pölkky's continuing trust in Nordhaven. The transaction is yet another proof of our sector capabilities - within both M&A and Debt & Capital advisory services. We expect transaction activity in forestry and wood processing to rise in 2023", says Kalle Helander, Partner at Nordhaven.

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