Banking & Finance, M&A & Private Equity, Corporate Law / 24.03.2020

Borenius advised Harvia to acquire the majority of the German EOS Group

We together with Noerr LLP (Germany) advised Harvia Plc, one of the leading companies operating in the sauna and spa market globally, in the acquisition of the German EOS Group (“EOS”), a technology leader for professional and premium sauna & spa products. After the closing of the transaction, Harvia will own 78.6% of the Group’s German operations and 80% of the Russian operations and will have an option to purchase the minority shares in future.

Harvia was assisted by Noerr LLP in Germany and Borenius in Russia, and Borenius’ Helsinki office co-ordinated the legal side of the transaction including tax structuring Finland-Russia-Germany and assisting Harvia with its senior financing and various capital market questions. The transaction was a good example on how we can serve our clients in cross-border transactions.

The deal team consisted of Partner Johannes Piha (M&A), Partner Niina Nuottimäki (Finance), Partner Heikki Wahlroos (Tax), Partner Asko Lindqvist (Competition), Senior Associate Erik Stenman (M&A), Senior Associate Jonna Yli-Äyhö (Tax), Associate Niklas Suni (M&A), Associate Saara Haapamäki (Finance), Associate Esa-Pekka Saari (Tax), Counsel Ari Syrjäläinen (Capital Markets) and in Russia Specialist Partner Alexey Nikitin, Senior Associate Irina Dudareva, Associate Natalia Kashina and Associate Anton Borisyuk.

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