Borenius
Founded in 1911, Borenius is one of the oldest Finnish law firms. Today the firm specializes in corporate law and has offices in four jurisdictions, including representative offices in London and New York. Since its New York and London expansions Borenius operates on a truly global level.
Focusses / specialisms
The firm’s banking and finance practice has traditionally been strong in the financial services sector, construction, real estate, and investment management. The firm regularly receives mandates from leading Nordic and international investment banks.
Borenius’ large capital markets team
onstructio in providing advice on US law to Finish customers. More specifically the firm has experience in public tender offers, rights issues and equity and debt assignments.
In terms of M&A work, the firm has adopted a strategy of moving away from private equity and focusing more on industrial clients. In their work for industrial clients, the team at Borenius have shown skill in advising on acquisitions with a view to expanding product lines.
Technology and financial regulation are also fields where Borenius is looking to expand.
Key clients
Fortum Plc, Netflix Inc,
Finnair Plc, SRV Plc, Nordea Bank, Danske Bank, Finland Branch, Swedbank, Aktia Alexander Corporate Finance, Carnegie Investment Bank, Oma Savings Bank, Endomines Finland, Aspo, Nightingale Health, Gofore, PHM Group Holding, Nanoform Finland
Research period review: 33rd edition (2022/2023)
During this research period Borenius’ banking practice has been active in the fields of acquisition finance, construction and real estate finance as well as investment management, often acting on behalf of lenders.
In the field of capital markets, the firm received mandates from banks as well as companies in the entertainment and technology business, real estate business, and the shipping, transport, and food industries. The firm has revived a lot of mandates to act on behalf of issuers.
In terms of M&A work, the firm
received mandates from companies in the technologies and telecommunications sector, mining sector, industrials and manufacturing sector and the consumer goods sector.
Deal highlights: 33rd edition (2022/2023)
€2.35 billion bridge financing of Fortum
Danske Mortgage Bank’s €10 billion covered bond programme
Oma Savings Bank’s €3 billion covered bond programme
Client feedback: 33rd edition (2023/2024)
Banking and finance
"Borenius is responsive for reasonable feedback."
"Client-centric. Efficient. Professional."
"Good reputation, knows the banks very well, reliable adviser."
Capital markets
"Borenius is very strong substantively, but also super-responsive and helpful and always looking for solutions. In addition, they are very plugged into the market and, generally, great partners to work with."
"The team led by Juha Koponen, executes deals efficiently, understands the requirements of the London and US based banks and is good to work with."
"Think Borenius is quick to react, commercially minded and seeking solutions."
"Great knowledge of market practice and efficient execution."
"They have extensive experience in this area."
Insolvency
"Good expertise and communication skills."
M&A
"Excellent work ethic, knowledgeable and pragmatic advice. Senior partner individually engaged and involved throughout the whole deal. Understands international arena and also different cultures. Technological prowess."
"Client-orientated approach and seeing the bigger picture that led to the ability to adapt the M&A process to the specifics of our case, with the seller being a founder-entrepreneur. Being able to engage local counsel and involve specific relevant subject-matter specialists (eg tax)."
"Very professional advice and legal support in a timely manner."
"The entire team at Borenius was both extremely knowledgeable about local deal mechanics and extremely responsive to our needs relating to the tight timeline of a deal of this nature."
Riikka Eronen
"Very knowledgeable, solid experience working for banks in various roles."
Juha Koponen
"Juha is the best. Always available. Always one step ahead. Can't say enough good about Juha!"
"Commercial, good to work with and always available."
"Juha is easy to deal with and always ready to assist. Quick-minded with a commercial mindset. Excellent knowledge in the capital markets space and ability to think outside the box."
"Very responsive, good international connections and easy to interact with."
"Always available for customers."
"Juha helped us through a complex transaction with a sometimes difficult counterparty."
Tero Kovanen
"Tero is very professional and experienced to provide support and legal advice in dispute cases."
Mia Mokkila
"Extremely professional and takes care of all the details. Mrs Mokkila really made my life easy during the transaction."
Niina Nuottimäki
"Niina is very good with clients and is a people person."
"Experienced, effective and pragmatic."
"Knows the area very well, quick in responding, pragmatic approach."
Robert Peldán
"Good communication skills, easily accessible."
Johannes Piha
"Very competent and experienced, e.g. with M&A activities. Keeps promises and timelines very well. Has a good network."
Johan Roman
"Johan excels in analysing and dissecting legal and business issues into clear and coherent steps that are actionable. He starts with the big picture and maintains clarity about the goals with the ability to focus on the ever-present pain points. Johan also very well managed to balance the depth and experience of the deal team throughout – what struck me as very modern was the fact that mid-deal the male senior associate took his paternity leave with no disruption or added billing visible to the client. Johan is also connected within Borenius and could on a short notice take on subject-matter experts to address specific issues."
Jyrki Tähtinen
"Understands business. Pragmatic approach based on long experience. International/multi-jurisdictional deal experience. Sharp legal mind."
"One of the most experienced insolvency lawyers in Finland with stellar knowledge in the sector."
Castrén & Snellman
Castrén & Snellman is among the oldest Finnish law firms with roots going back to 1888. It is a full-service law firm, based in Helsinki, and it boasts the largest number of employees out of all the Finnish law firms.
Focusses / specialisms
In terms of banking and finance activity, the firm specialises in areas such as corporate lending, leveraged finance and real estate finance, as well as general project finance.
Their capital markets practice is well versed in both traditional financial instruments as well as more innovative ones such hybrid and convertible bonds.
Castrén & Snellman’s M&A practice provides sound advice on strategic acquisitions, public takeovers as well as joint ventures.
In terms of project development, the firm focuses on real estate investments and property development.
Key clients
Nordea Bank, Caverion Corporation, OP Corporate Bank,
Skandinaviska Enskilda Banken, Danske Bank, Aktia Bank, Neste Corporation, LocalTapiola Group, BASF Battery Materials Finland, OX2 Finland, Vattenfall, Swedbank AB,
Ålandsbanken, Borgo, Huhtamäki, Helen, NREP, Finnlines, Commerzbank Aktiengesellschaft, VR-Group.
Research period review: 33rd edition (2023/2024)
Recently, Castrén & Snellman’s banking and finance division has seen a lot of work in the consumer goods and services sector, the technology and telecommunications sector, as well as the financial services and investment management sectors. Within those sectors the firm has done a lot of real estate and acquisition finance as well as some refinancings.
In terms of capital markets work, the firm focused on the financial services sector, industrials and manufacturing, and the technology and telecommunications sector. The main types of deals the firm have been seeing are bond issues and public acquisitions.
The firm was engaged in private acquisitions, mergers and divestments. The main sectors of activity in terms of M&A were industrials and manufacturing as well as investment management. The firm also did some interesting M&A work in the gaming industry.
In the field of project development, the firm was active in the industrials and manufacturing sector, as well as the energy sector.
Deal highlights: 33rd edition (2023/2024)
Commerzbank Finance’s financing facility of more than
€1 billion
The Mortgage Society of Finland’s update of their
€2 billion bond programme
S-Bank's update of their €1.500 million note issuance programme
Senior Preferred Note, Covered Bond, Tier 2 Note and AT1 Capital Note programmes
Oomi’s solar park project
Client feedback: 33rd edition (2023/2024)
Banking and finance
"Relationship-driven. Highly skilled. Pragmatic."
"Street-smart, quick, service-minded."
Project development
"They provide solid and professional expertise."
"Castren provided in-depth knowledge about the Finnish permitting landscape (which contains very many different permits) and provided appropriate, reliable and useful answers to the various questions we had around permitting. Castren were also very swift in preparing drafts and displayed good availability and it was easy to schedule meetings at short notice."
Teresa Kauppila
"Not giving up even when the situations are very difficult. Street-smart, very positive."
Janne Lauha
"Understanding the big picture. Always having the client's best interests in mind."
Sakari Lukinmaa
"Solution-orientated, very good use of appropriate resources."
Sanna-Mari Seppälä
"She's very precise and measured, hands-on, expert in her area of expertise."
"Sanna was very ambitious and worked very hard on the agreements for which she was responsible (which was a majority of the agreements in the transaction). She had a very good knowledge and understanding of the complex key agreements and could come up with appropriate solutions and counterarguments as regards the counterparty's mark-ups."
Dittmar & Indrenius
Dittmar & Indrenius Attorneys is and independent Finnish law firm. The firm is based in Finland’s capital city Helsinki and has been serving corporate clients since 1899.
Focusses / specialisms
The firm is focused on financing, capital markets, M&A and project work, and it is particularly experienced in energy and infrastructure sector work.
In banking the firm specialises in working on domestic and cross-border transactions in lending and acquisition finance, project finance, real estate finance, derivatives, structured products and distressed situations.
In capital markets it is strong in issuer side work in the debt and equity capital market domains.
The M&A team regularly advises on complex, high value transactions in both the corporate and private equity transactions often with cross border elements. The team is particularly strong in the healthcare, ICT, technology, industrial, energy and infrastructure sectors.
In projects work the firm operates in energy, natural resources and infrastructure sectors. It is best known for its work on financing aspects of large transactions and projects.
Key clients
Trustly, Anyfin, BNP Paribas, Danske Bank, Pandion Mine Finance, Loiste, IKEA, Veho, Pareto Securities, OPR-Finance, Providence Equity Partners, CapMan, MB Funds, KLAR Partners and Litorina.
Research period review: 33rd edition (2022/2023)
In banking and finance, key areas for the firm have been acquisition finance and investment management. In terms of industry sectors, the team has been active in mostly real estate and energy deals.
Their capital markets team advised companies on regulatory matters for clients in the financial services industry. The firm has also advised on notable mandates from companies in construction, real estate, and manufacturing.
In terms of M&A work, the firm was active in the private acquisition and restructuring sectors, especially in construction and energy. They have also done some work for gaming and healthcare companies.
As for project development the team worked on a lot of concession and exploration contracts for companies in the energy sector and infrastructure construction.
Deal highlights: 33rd edition (2022/2023)
Brookfield Asset Management €767 million acquisition part of Telia Company’s tower business
Valmet and Neles €4.3 billion merger
Client feedback: 33rd edition (2023/2024)
Banking and finance
"They are very straightforward no no-nonsense type of professionals who seek solutions not billables."
"Attentive to detail, available and reliable. I very much appreciated working with the Dittmar team (Juha-Pekka Mutanen, Eeva-Lotta Kivelä and Emilia Lehtonen) and will definitely come back next time I am in need of Finnish legal advice."
Capital markets
"Deal structure and legislative framework."
Financial services regulatory
"Strong industry competence and in-depth knowledge of the legal framework."
M&A
"Relaxed, yet highly competent. Quick to react and in addition to top-of-the-class legal advice, they understand the business side of things as well."
"Very proactive and capable team. Probably the most reputable legal partner in Finland. Great flexibility and business knowledge."
"Very likeable and easy to get along with. Good attitude."
"They listen customer carefully and aim to achieve pragmatic solutions."
"Great cooperation and great job done by Dittmar."
"Good commercial understanding and solutions-orientated."
"Excellent attention to detail, very pleasant to work with."
Project development
"They have a practical and hands-on approach to getting the work done."
Anders Carlberg
"Relaxed, yet very competent. Excellent problem-solving skills."
"Very nice guy. Agreeable attitude."
"Anders is a trusted adviser and provides stellar advice within the field of, among other areas, M&A."
"Good communication and negotiation skills, listens to customer."
Wilhelm Eklund
"Probably the best lawyer in Finland in M&A."
"Very pleasant to work with him, very straight and pragmatic, very good at finding solutions."
Jonatan Hallvar
"He is a trusted performer who delivers quality time after time."
Kristian Karlsson
"He has very good knowledge of the industry and provides timely and very hands-on advice."
Jasper Kuhlefelt
"Industry knowledge, commercial understanding."
"Easy to deal with, solutions-orientated."
"Very dedicated and competent, yet a nice person to work with."
Jan Ollila
"One of the best lawyer I've had the chance to work with. Impressive negotiation skills."
Juha-Pekka Mutanen
"Mutanen is extremely approachable and solution-orientated, with a stand-out legal mind, a strong business understanding and an ability to simplify highly complex legal matters into an understandable form."
"Service-minded and reliable – always delivered on time under challenging conditions and tight timelines."
Hannes Snellman
Hannes Snellman is a prominent Nordic law firm with offices in Sweden and Finnland. The firm has been assisting in complex and high-profile business transactions since 1909.
Focusses / specialisms
The firm is a staple of the Finnish financial and corporate market, particularly in complex banking, M&A and equity capital markets deals.
The banking and finance team represents both lenders and borrowers on asset finance, financing and acquisition finance deals. It is especially strong in banking, industrials and manufacturing and technology and telecommunications sectors.
In capital markets the firm is best known for equity work including IPOs, public tender offers, equity offerings and share buy-backs. The firm often acts as lead counsel on international transactions.
The M&A team advises both listed and privately held companies on domestic and cross-border deals. It covers a broad spectrum of transactions such as public takeovers, share transfers, mergers, reverse buyouts and joint ventures.
The projects practice advises on project development, construction and operational issues in such sectors as energy, infrastructure, mining, construction, data centres and natural resources.
Key clients
Verdane Capital, Triton Partners, Nordea Bank, Fortum, Solidium, OP Corporate Bank,
Danske Bank, Intera Partners, Skandinaviska Enskilda Banken,
Vaaka Partners, YIT Corporation, Eltel, Ahlstrom Capital, State of Finland, Nordic Investment Bank, LähiTapiola, Capman, Anora Group, Bain Capital, Valmet Corporation Smartly.io, Supermetrics, Metso Outotec, Konecranes, Anora Group, Chevron Products UK
Research period review: 33rd edition (2023/2024)
In the banking and finance sphere, the firm was active in acquisition finance as well as some restructurings and refinancings. Their clients were from a wide range of industries including energy, defense, healthcare and financial services.
In the capital markets realm, the firm advised on several types of deals including private placements, public procurement and deals involving depository receipts. Their clients have been from the energy, pharmaceuticals as well as the technology and telecommunications sectors.
In terms of M&A work, the firm has been active in divestments, joint ventures, both public and private acquisitions as well as financial investments. Their clients have been from industries such as technology and communications, automotive, manufacturing as well as investment management.
In project development the firm has been active in sectors such as mining and the broader energy sector, as well as technology and telecommunications.
Deal highlights: 33rd edition (2023/2024)
Cargotec and Konecranes €2.7 million merger
Fortum €4.5 million restructuring
Valmet’s €7 billion
merger with Neles
Client feedback: 33rd edition (2023/2024)
Banking and finance
"Constructive team with good knowledge of the local market."
Capital markets
"High level of enthusiasm for engaging and seeing where they can assist. Really responsive without being overbearing. Good mixture of legal analysis and common sense helping to move through issues at an effective rate."
"Extensive legal expertise, fit for large-scale transactions, ability to work in fast-phased projects and deliver on time."
"Practical and to-the-point advice."
"Hannes Snellman are quick, reliable and very easy to work with. Each individual on the team is knowledgeable and I feel we get very good value for money."
"Overall capabilities in conducting complicated projects."
Financial services regulatory
"They are very knowledgeable on the legal topics relevant to us (also difficult ones) and very service-minded and reachable."
Leveraged finance
"Solid delivery, good staffing, realistic fee quotes."
M&A
"Dedicated, competent, accessible, easy to work with."
"Very knowledgeable with high subject-matter expertise, extremely service-minded and pleasant to work with."
"High quality, fast, commercial mindset."
"Very effective and swift response."
"Hannes Snellman is very solution-orientated firm with a hands-on attitude whilst demonstrating extremely high-quality M&A expertise."
"Comprehensive and extremely professional approach in all necessary fields of law (real estate, transactions, permitting, corporate, etc) required in a major project."
Private equity
"Hannes Snellman demonstrated excellent subject-matter knowledge, their advice was both poignant and practical, and they were highly responsive."
Project development
"Professional."
"Availability, adaptability and proactiveness in proposing solutions to negotiation deadlocks."
"Hannes Snellman has great expertise in environmental law and administrative processes and they have an ability to think outside the box and find unusual solutions for us where needed."
"Excellent understanding of our line of business. Practical and solution-orientated approach which is still based on very high level legal expertise."
"Large team with wide expertise in various legal aspects."
Project finance
"Professional."
Richard Akerman
"Very knowledgeable and responsive. Put together an excellent team to help handle our matter."
Markus Bremer
"One of the best finance lawyers in Finland, intelligent and creative."
Douglas Essehorn
"Very effective and responsive."
Katja Heikkinen
"Drive, juridical knowledge."
Claes Kjellberg
"Dedication."
Miklos Kovacs Kal
"Smart, fast-learner, solution-orientated, highly responsive."
Maria Landtman
"Professional."
Henrik Mattson
"He is a very skilful lawyer and an inspiring discussion partner in many banking and finance-related legal topics."
Klaus Metsä-Simola
"Klaus is a true expert within his field and great at finding solutions for versatile issues. He is also very nice to work with, because he is calm and easy-going."
Joel Montin
"Extremely personable and good at being an ally in advising on challenges. Has a great background in banking to enable commercially focused advice."
Antti Nyberg
"Good at managing team and taking the grandfather role."
"Very proactive and responsive, easy to work with, takes ownership of deliveries of the team as a partner, a future industry leader."
Katja Perätalo
"Cheerfulness. Proactive and constructive."
"Exceptionally good in her line of expertise. Thorough understanding of both legal aspects as well as the real-life challenges that the client is facing. Always available, easy to work with."
Riikka Rannikko
"Ability to provide strategic advice based on her legal expertise and vast experience. In addition to the big picture, she is amazingly well aware of every detail of the matter."
"She is highly competent, accountable and highly solution-orientated."
"Despite having the demanding position of managing partner, Riikka is able to spend just the right amount of time on our business. She can be depended on to give you a straight answer in a timely manner. Riikka knows our business from years ago and takes the effort to keep current with our affairs."
"Very solid and structured approach to solving issues."
"Riikka Rannikko is a well-known corporate law and M&A expert in Finland. She is very knowledgeable, responsive, precise and pleasant to work with. She can handle contentious situations in a structured, calm and controlled manner."
Tapio Teräkivi
"Excellent knowledge in the Finnish real estate market. Value added in versatile approaches to problem-solving. Very good interaction."
Johanna Wärnberg
"Commercial, hard-working, responsive."
Valerie Warvik
"Professional."
HPP Attorneys
HPP Attorneys is an independent full-service Finnish law firm based in Helsinki. The firm has been advising on complex corporate deals since its foundation in 1974.
Focusses / specialisms
The firm has a broad team across the financial and corporate area and is especially well known for its energy, project finance and infrastructure work in Finland.
Project finance is a strength for the firm in the banking area, especially in concern of the construction and development of wind farms, and in energy and infrastructure sectors in general. The firm has historically been strong in acting for borrowers and overseas lenders.
In the M&A space the firm often works for a mix of buyers and sellers in sectors including energy, infrastructure and mining. It is also involved in the Finnish private equity area, and on technology-related transactions for foreign and domestic strategic buyers.
The firm has a strong presence within the projects area and has acted for clients on the development of nationally significant projects.
Key clients
Key clients of the firm include European Investment Bank, Aktiivitilat, Aquila Capital, Danske Finance, Municipality Finance, Collector Bank, Taaleri, Terrafame, Agnico Eagle Finland, Taaleri Energia, Finnish Minerals Group, Kempower, PHP Holdings, Paragon 28, European Investment Bank, Aktiivitilat, Samhällsbyggnadsbolaget i Norden, Aquila Capital, Danske Finance, Municipality Finance, Collector Bank, Taaleri, Skandinaviska Enskilda Banken, Joh. Berenberg, Gossler & Co. Commerz Real, Cube Infrastructure Managers, Terrafame Group, Aquila Capital, Bob W Technologies, Kempower, Future Energy Ventures, Lone Star Fund, OGCI Climate Investments, Finnish Mineral Group, Berenberg, Elisa Corporation, Latitude 66 Cobalt and Avrupa Minerals.
Research period review: 33rd edition (2023/2024)
In banking and finance, the firm was busy with refinancings, especially in the real estate sector. The firm has been advising companies in the industrials and manufacturing sector well.
In terms of M&A work, the firm received mandates in the renewable energy sector, especially ones concerning wind farms. HPP has also been active in M&As concerning digital infrastructure and the defense sector.
In project development, the firm continued its robust performance in energy and infrastructure, natural resources, real estate, and construction.
Deal highlights: 33rd edition (2023/2024)
Finnfund’s $135 million financing package for VINFAST
Metsä Group’s €1.5 billion construction project in Finland
SBB’s €8 billion EMTN programme
Client feedback: 33rd edition (2023/2024)
Banking and finance
"Very professional and high level of performance combined with straightforward and commercially solid way of working."
Private equity
"Very professional, yet a pragmatic approach to matters. Understands the business very well (especially partner Teija Lius) and therefore are able to serve our needs."
Project development
"People-friendly approach, good knowledge, drafting skills and good in negotiations."
"Very responsive and one of the leading legal teams in renewables."
Project finance
"Very client-orientated."
Marius af Schulten
"One of the leading renewables legal experts in the country. Responsive, business-minded and high-performing lawyer. Very solution-orientated, cuts through complexity."
Andrew Cotton
"Very solution-orientated."
Teija Lius
"Very professional, provides high-quality service with a deep understanding of our business. Can warmly recommend!"
Björn Nykvist
"Nice and talented guy', easy to approach, good drafting skills and keeps agreed deadlines."
Antti Rintakoski
"Excellent understanding of client needs."
I&O Partners
Boutique Finnish law firm I&O Partners
was established in 2016. It operates out of Helsinki.
Focusses / specialisms
Among the various financial and corporate domains, the firm is particularly strong in M&A.
The team is noted to have doubled its public and private M&A transaction volume in comparison to its first accounting period and has a solid position in the Finnish mid-market. With strength in the domestic private equity and healthcare space, the firm advises a mix of private equity, venture capital, growth clients and industrial clients on complex domestic transactions.
The M&A team has extensive experience in distress finance arrangements and together with the firm’s finance practice, often advises on transactions involving distressed M&A elements and acts as borrower’s counsel in distressed finance situations.
Research period review: 33rd edition (2023/2024)
During this research period the firm focused on M&A deals, more specifically in the agriculture, pharmaceutical, sports and transport sectors.
Key clients
Key clients include Summa Equity, Sentica Partners, Juuri Partners, Lifeline Ventures, Mahindra & Mahindra, Cabonline Group/HIG Capital, North Wall Capital, FourWorld Capital Management, VR Group, Handelsbanken and LähiTapiola.
Client feedback: 32nd edition (2023/2024)
M&A
"Very professional and experienced team and always helpful throughout the process."
"Good availability, innovative ideas."
Risto Ojantakanen
"Wide experience, excellent knowledge particularly in corporate law."
"I have worked with Risto for 20 years and his integrity and professionalism are great."
Krogerus
Established in 1993, Krogerus is one of the most influential Finnish law firms. The firm is headquartered in Helsinki and has offices in Kuopio and Turku.
Focusses / specialisms
In terms of banking and finance expertise, Krogerus has traditionally been proficient in leveraged finance and asset finance. The firm also has considerable experience in dealing with derivatives. Sectors where the firm has a proven track record include trade and export finance; real estate finance as well as restructuring and insolvency.
Their capital markets division is experienced in advising on a full range of security types including bond issues, debt programmes, convertible and high-yield debt offerings. In the past they have also done excellent work on private placements, public tender offers and de-listings.
In M&A, the firm has been traditionally been strong in both public and private acquisitions. In terms of industry sectors, the firm has done good M&A work in healthcare, energy, construction, and IT, among others.
In terms of project development work, the firm is especially adept in dealing with complex lease agreements and issues related to environmental law.
Key clients
Key recent clients include
Nordea Bank, Ilmatar Energy, Hyperco, VR Group, Intera Partners, Helen and Ålandsbanken Wind Power Fund, Cibus Grocery Finland, Carnegie Investment Bank, Danske Bank, Swedbank, Sampo, Nokia, Fellow Bank, Lamor Corporation, Aiforia Technologies, HKScan Corporation, JC Switzerland Holding, Retail Logistics Excellence – RELEX, Kyndryl Corporation, Institutional Venture Partners (IVP) Earlybird VC, Verdane, Vitruvian Partners, Intera Partners, Plugit Finland, Taaleri, VR Group, Walki Group, AFRY, Fasadgruppen Group, Synexa Life Science, Instalco, Marlin Equity Partners, One Equity Partners, Sentica Partners, Juuri Partners, Clausion International, LIWLIG Group, BlackRock, VALOREM, CPC Germania / CPC Finland, Ålandsbanken Funds, Ilmatar Energy, Helen, Ardian, Orrön Energy, Omnes Capital, Low Carbon, BayWa and Nordic Ren-Gas, St1.
Research period review: 33rd edition (2023/2024)
In the banking sphere Krogerus has recently been active in the energy, real estate, investment management and transport sectors, acting for both borrowers and lenders.
In terms of capital markets work, the firm’s most valuable clients have been from the healthcare, insurance, technology and telecommunications as well as the consumer goods sectors. In terms of the types of work that the firm has been involved in, this research period saw Krogerus involved in a lot of share buy-backs, private placements, bond issuances including some bond restructuring, as well as the usual public and private acquisitions.
In M&A the firm was active in sectors such as retail, IT, finance, transport, packaging, engineering, and construction, acting for buyers, investors, and shareholders.
In project development Krogerus has been advising a lot of energy companies, acting on behalf of project developers, investors and sponsors.
Deal highlights: 33rd edition (2022/2023)
IVP and Earlybird’s participation in Aiven's $210 million series D funding round
Retails Logistics Excellence’s investment round of
€ 500 million
Client feedback: 33rd edition (2023/2024)
Banking and finance
"Krogerus is efficient and trustworthy legal counsel. They have a deep and wide understanding of the finance law field. Krogerus is also good on managing finance transactions and active grip and proactive perspective."
"Krogerus's team has exceptionally wide experience in all kinds of transaction. No matter how complex the structure is, the Krogerus team have had a prior transaction which they can relate, etc."
"They are prompt and pragmatic in their work and have in-depth experience and knowledge of financing transactions."
Capital markets
"Krogerus thinks around the whole 360 of your project so they share the same mindset that we as inhouse lawyers have."
"Hands-on with senior staff and very pragmatic, solutions-orientated."
"Very technically skilled and creative."
"Krogerus are very good at keeping focus on the important aspects of a transaction and ensuring continued progression of the plan of action. This can especially be difficult in complex transactions with many different obstacles, but Krogerus manages this very well."
M&A
"Thorough understanding of local regulation and its application, and a clear appraisal of asset risk."
"Professional approach with great amount of common sense."
"High level of professionalism."
Project development
"They have very deep knowledge in their areas of expertise. They are able to handle complex transaction structures and project agreements and see the big picture while also keeping track of the details. They listen to the client, are flexible and pragmatic, and have their client's best interest in mind. To top it off, they are very skilled negotiators."
"Helpful, talented and have a good knowledge of environmental regulation."
Project development
"Proactive, accurate and client-orientated."
Sami Laine
"Legal understanding, problem identification, negotiation approach with other legal firms."
"Experienced and knowledgeable with deep understanding of the renewable sector. Sami understands and listens to the client and always keeps the client's best interests in mind. Skilled negotiator. Flexible and delivers when promised. Leads complex projects well and keeps the big picture in mind. He has managed to earn his clients' trust."
"Sami is a 'real nice guy' with talent and knowledge."
Sami Martola
"Great legal skills and great attitude."
"Nice, relaxed but still very professional."
Päivi Toivari
"Päivi is a highly competent and efficient lawyer. Päivi has very good knowledge of the finance sector and she is a well-known partner in the Finnish finance law sector. Päivi has a direct and no-nonsense approach to transactions."
PwC Legal
PwC Legal is one of the largest legal networks in the world with offices in 90 countries around the world. PwC was established in 1998 with the merger of Coopers & Lybrand and Price Waterhouse.
Focusses / specialisms
The firm is largely known for the work it does in the M&A practice area, for companies in industries such as consumer goods and services, technology and telecomunications, healthcare and banking.
Key clients
Key clients include Axcel Partners, Evli Bank, Nordic Waterproofing, Oy Interior Capital, OneMed, Norvestor
Research period review: 33rd edition (2023/2024)
In addition to the sectors in which PwC legal is traditionally strong, the firm has managed to attract some clients from the energy, construction and materials, pharmaceuticals, education and electric wholesale sectors.
Client feedback: 33rd edition (2023/2024)
M&A
"They managed the agreed tasks very well."
Roschier
Roschier an independent Nordic law firm with offices in Finland and Sweden. Founded in 1936, the firm has an excellent reputation for advising high-profile clients on corporate law issues.
Focusses / specialisms
In terms of banking and finance Roschier is known for their work in financial restructurings and refinancing issues. Their clients in the field include large domestic and foreign corporations as well as leading financial institutions, investors, and governments.
Their capital markets service focuses on both equity and debt capital. The team at Roscher is skilled in advising on a wide range of capital markets issues including IPOs rights offerings, structured finance and financial derivatives.
Key specialisms for Roschier in terms of M&A work have been listed companies, financial institutions, leading technology and IT firms as well as large family businesses.
In project development the firm is especially skilled in real estate deals, regulatory processes advice and liability.
Key clients
Key clients include Nordea, OP Corporate Bank,
SEB, Danske Bank, Nokia, Outokumpu, IK Partners, Blackstone, Taaleri Energia,
TietoEVRY Corporation, Coronaria, Musti Group, Huhtamäki, Finnair, Bain Capital, Neles Corporation, Puuilo, Sitowise, Nordic Lights Group Corporation, Basware, Sampo, Lassila-Tikanoja, Enersense International,
Telia Company, Suomen Autokauppa, Loxam, Boels Topholding, ANTA Sports Products, Wolt, GoTo Technologies, Kymppivoima, Sibanye-Stillwater, Renewable Power Capital, Fortum, Vattenfall, InfraVia, Westenergy, Kemijoki, Enefit Green,
Skandinaviska Enskilda Banken, Pohjola Bank, Caruna Group, Fennovoima, Sval Energi and Downing.
Research period review: 33rd edition (2023/2024)
In banking and finance, the firm was busy with work for clients in the technology and telecommunications and the real estate sector. The firm was engaged in leveraged finance and refinancings.
On the debt side of the capital markets, the firm completed bond issuances as well as bond restructurings and bond buy-backs. Working with financial institutions, real estate companies, energy companies as well as companies from the technology and telecommunications sector, the firm has mostly advised on convertible and high yield bonds. In terms of equity work, the firm focused on private equity and IPO’s, working with clients from the automotive, financial services and manufacturing industries.
In project development, the firm worked for companies in energy, natural resources, technology and communication, as well as utilities and infrastructure. In these projects the firm has acted on behalf of mostly project developers and investors.
Deal highlights: 33rd edition (2023/2024)
Aktia Bank's €5 billion Medium term note and covered bond programme
Fortum Corporation's €8 billion EMTN programme update
Sampo’s €1.84 billion sale of shares in Nordea Bank
Client feedback: 33rd edition (2023/2024)
Banking and finance
"Broad team and good availability, good industry knowledge."
"Best law firm in Finland with strong set of capabilities."
Capital markets
"Very familiar with the requirements for transactions of this type and good experience in working with international banks and law firms."
Financial restructuring
"They are knowledgeable, work well with other firms (not always a given), and they provide significant value."
Insolvency
"Reliable and truly professional partner."
Investment funds
"Excellent knowledge, always on time."
M&A
"Very helpful in advising how to set up the transaction and in the negotiation. Good to be commercial in their thinking."
"Especially in the M&A processes it is crucial to have an excellent legal team that you can trust and that is adaptive in the changing situations in the process. Roschier has been performing very well in this area."
"Very professional and diligent."
Private equity
"Reactive, insightful, competent."
Project development
"Roschier people are down-to-earth people, clear and straightforward with their advice. Good 'closers'."
"Professional, quick, pertinent, nice to work with."
Antti Ihamuotila
"Fantastic knowledge and judgement."
"One of the best attorneys I have worked with, including those in London and NYC. Personable, knowledgeable, unflappable, creative."
Tero Jormanainen
"Tero Jormanainen is extremely good in the M&A processes and related negotiations. He is very much solution-orientated and adapts well in the position the customer has in the negotiations."
Miikka Konttinen
"Miikka is a talent. Good negotiator, drafting skills and problem-solving."
"Professional, quick, pertinent, nice to work with."
Malin Leffler
"Very commercial, easy to work with, humble in approach, accessible, smart!"
Helinä Pohto
"Customer-focused true professional always available when needed."
Jouni Salmi
"Very pleasant to deal with, extremely professional."
"Go-to partner for M&A work in Finland. Soft spoken, extremely experienced and knowledgeable, always available and solutions-driven."
Helena Viita
"Knows what the parties' expectation on the Finnish counsel are, can produce the necessary documents effectively."
Waselius
Waselius & Wist is an independent Finnish
commercial law firm and a member of the Finnish Bar Association. The firm was established in 1997 and is based in Helsinki, the capital of Finland.
Focusses / specialisms
The law firm focuses on the financial, regulatory and insurance sectors. The firm regularly sees a lot of cross border work and is known for advising big corporate and bank clients on Finnish law. The team is also experienced in restructuring and refinancing.
In terms of capital markets work, Waselius & Wist focuses on
convertible instruments, hybrid bonds and other types of securities.
The team is also skilled in several types of M&A work including, but not limited to joint ventures, mergers, and takeovers.
Key clients
Credit Suisse International, eToro (Europe) Ltd, MetLife Group, Bank of America Corporation, HSBC, Nomura Financial Products Europe GmbH, Citibank / Citigroup, Barclays Bank / Barclays Bank Ireland, The Royal Bank of Canada, BNP Paribas, Société Générale Group, Goldman Sachs International, Natixis, Crédit Agricole Corporate and Investment Bank, Deutsche Bank, Enersize, AMC Networks Ventures, Otso Gold, LocalTapiola Finance, Winance
Research period review: 33rd edition (2022/2023)
During this research period the firm’s banking and finance division has been advising on deals in the financial services sector, investment management sector and technology and telecommunications sector. It has worked with borrowers, lenders, originators and financiers.
In terms of capital markets work this research period has seen the team at Waselius & Wist focus on bond issues in the banking and financial services industries.
Regarding the firm’s work on the M&A side, the firm focused on private acquisitions, financial investments and joint ventures. They have attracted clients from the energy, utilities, telecommunications, and consumer goods sectors.
Deal highlights: 33rd edition (2022/2023)
BNP Paribas €90 billion bond issue
Crédit Agricole Corporate and Investment Bank (CACIB) €50 billion bond issue
LocalTapiola Finance €623 million public securitisation
Client feedback: 33rd edition (2023/2024)
Asset finance
"They provide clear, detailed and prompt advise. Overall I had a great experience with them."
Capital markets
"Legal knowledge, pragmatism, speed of response"
Financial services regulatory
"Very responsive and knowledgeable on insurance regulatory framework. They can provide services in wide scope and from small to large assignments."
M&A
“Very advanced legal knowledge and expertise in the matter. Clearly provided and business-guided legal advice.”
“Deep knowledge of Finish law, especially on transactional / M&A matters and insolvency. Very available and pragmatic.”
“Highly professional and skilled team, able to help in very specific area of procurement.”
“Accessible, provides hands-on and pragmatic advice.”
“Professional, knowledgeable, fast, adaptable.”
“Waselius & Wist has an outstanding reputation for complex (cross-border) M&A transactions relating to Finland due to their “hands-on” approach and commercial judgement as well as the ability to provide “full legal services”, e.g. not only to corporate law matters but also for example to employment or IP matters.”
Project development
"Fast response time, competent consultation."
Jaakko Huhtala
"Very professional, easy to work with, provides hands-on advice."
Maria Lehtimaki
"Excellent legal knowledge and responsiveness."
"Very friendly, reliable, fast, thoroughly."
Niko Markkanen
"Very responsive. Normally first point of contact who either takes the assignment or delegates work within W&W to appropriate resources."
"Good communication. Legal knowledge expertise."
Lotta Pohjanpalo
"Very capable of understanding clients issues and concerns, also delivering objective responses and actions to our questions."
Christoffer Waselius
"Legal knowledge and expertise. Very good communication."
"Very available. Very technical. Strong negotiation skills."
"Christoffer Waselius – who was always tremendously helpful due to his M&A experience, market understanding and practical and solution-oriented advice."
Avance
Formed in 2011, Avance is a leading Finnish firm based in Helsinki.
Focusses / specialisms
In banking and finance the team specialises in a range of transaction types, including syndicated and bilateral loans, acquisition, real estate, structured and project financing arrangements, as well as securitisations and restructurings.
In the capital markets sphere the firm advises both issuer and lender side clients on a range of equity and debt transactions.
The firm is among the leaders in Finnish M&A, with particular experience in energy, financial services, and technology sectors. Known for some of the largest and most complex transactional work on the Finnish market, it has experience working on both international and domestic deals.
In project development area the firm is strong in both energy and infrastructure, working in close cooperation with the firm’s M&A, real estate and financing teams. Its advice extends from transactional and structural advisory on projects to regulatory and policy work.
Key clients
Key clients include MehiläinenYhtiöt, Solidium, Konstsamfundet, Kusinkapital, Elenia, Alfa Laval, Berner, Adelis Equity Partners, Vapo, Alma Media, KKR, Procuritas, Tradeka-Yhtiöt, Verso Capital, Bravida, CapMan Infra, Rettig Group, Areim, OP Corporate Bankand Loimua.
Research period review: 33rd edition (2023/2024)
The firm’s banking team was active in advising on acquisition, real estate and corporate financings during the research period.
The M&A team advised on large public acquisition transactions in the Finnish market, both domestic and cross-border.
In projects work the firm has held a lead counsel role on large energy and infrastructure projects. The firm’s clientele during the period included a combination of infrastructure, technology and investment management companies.
Deal highlights: 33rd edition (2023/2024)
DoorDash €7 billion acquisition of Wolt Enterprises
Mandatum AM Finland Properties II
€194 million financing
Client feedback: 33rd edition (2023/2024)
Banking and finance
"Proactive and responsive approach towards clients, market leading expertise in real estate and finance"
"Avance were always available to discuss the issues related to the documentation and did also appear professional in dialogue with us as well as the borrower. They also had good knowledge insight into the items discussed."
"Always available and fast, they take the time to know the customer very well and therefore are able to provide extremely well informed advice."
Capital markets
"Timely delivery, high quality of work (minimal amount of errors), deep knowledge of complex area of law."
M&A
"Prompt and professional."
Private equity
"Good advice, work ethic and outcome oriented approach."
Project finance
"Avance is flexible, efficient and oriented to find best reasonable solution."
Anders Floman
"Professional and good person to work with."
Selinda Näse
"Attention to detail, commitment to deadlines, very comprehensive understanding of finance law"
Rasmus Sundström
"Very knowledgeable, able to grasp new concepts extremely quickly, an allround amicable person to work with."
Sari Wallgren
"Always available and creative in order to find solutions."
"Always available and will find solutions, or find someone else within the company to get relevant knowledge at hand."
"Sari really understands the client needs and has an ability to see the bigger picture which is then applied to the detail."
Carl-Henrik Wallin
"Among the most experienced M&A lawyers in Helsinki/Finland. Excellent communication skills and transparent. Oriented towards the outcome of the deal."
Bird & Bird
The Finnish office of the London headquartered international law firm Bird & Bird is located in Helsinki.
Focusses / specialisms
The firm is active in several financial and corporate spheres such as banking, capital markets and M&A.
The firm’s capital markets practice, which is especially strong in equity, offers seamless cross-border advice across sectors at the epicentre of technological transformation, including life sciences, technology and financial services.
The banking and finance team advises local and international banks on acquisition, real estate and mezzanine finance as well as regulatory consultation.
Its M&A team acts on both public and practice matters and often advises the largest companies in the market. Key sectoral strengths include technology, mobility and energy.
Key clients
Key clients include Ericsson, Prime Minister’s Office, Olvi, Nordic Morning Group, Mitsubishi Electric Corporation, National Instruments Corporation, Finnish Ministry of Transport and Communications, Fintraffic, Fortum, NREP, Nyfosa, Elisa Corporation, Lehto Group and Valoe Corporation.
Client feedback: 32nd edition (2022/2023)
Capital markets: Debt
“Pragmatic work attitude.”
Capital markets: Equity
“Professional, responsive and diligent.”
DLA Piper Finland
The international law firm DLA Piper has offices in 40 countries throughout the world. In Finland the firm has a large team situated in the heart of Helsinki.
Focusses / specialisms
In banking, the firm’s specialties include the shipbuilding industry and ship financing, where the firm’s expertise is best-in-class, as well as in construction finance and buyer loans, structured export, trade finance, regulatory work, compliance and anti-money laundering issues.
In capital markets, the firm is active in equity capital markets on landmark projects in such areas as public cash tender offers, as well as debt where recent work has involved working on MTN and ECP programmes.
In the firm’s other key financial and commercial pillar, M&A, it is best known for cross-border and domestic mergers, acquisitions and private equity transactions.
Key clients
Key clients include Prime Capital, Kommunalkredit Austria, PPG Industries, Læringsverkstedet Gruppen, Raksystems Group/MB Funds, Digia, AAC Capital, Premico Group, NFT VC Fund, Avidly, Bregal Milestone, Varma Mutual Pension Insurance Company, Eynersense International, Digia and AddSecure Group.
Client feedback: 32nd edition (2022/2023)
Capital markets: Debt
“Good responsiveness and availability. Familiarity with us as a client.”
M&A
“Timely and proactive reactions and action on customers' agenda.”
Dottir Attorneys
With lawyers based in Helsinki, Berlin and San Francisco, Dottir Attorneys is a Finnish business law firm with major focus on technology and media companies. It was founded in 2016.
Focusses / specialisms
The firm continues to advise startups and investors in technology, deep tech, AI and machine learning on different kinds of corporate transactions, ranging from private equity and M&A to venture capital financings.
Key clients
Key clients include Playtika Holding, Vincit, Shareholders of e-ville, Mainframe Industries, Shareholders of Silverbucket, Barona, Inderes, CapMan Growth Equity, Finnish Industry Investment, Sanoma, JB Nordic Ventures (NordicNinja), Maki.vc, Icebreaker.vc, Sparkmind.vc and Voima Ventures.
KallioLaw
KallioLaw is a Finnish law firm with offices in Helsinki, London and Turku. The firm was founded in 2000.
Focusses / specialisms
Most of the firm’s work in M&A is linked to transactions in the high-tech and IT/software space, either representing private equity houses or the companies themselves. Another strong area for the firm is its expertise in the mining sector.
Mining is the key sector for the firm’s projects work, and the firm is a first contact when mining and exploration companies look to enter the Finnish market.
Key clients
The firm’s key clients include various mining, exploration and technology companies.
Merilampi Attorneys Ltd
Merilampi is a Finnish law firm located in Helsinki. It was founded in 1992.
Focusses / specialisms
In banking, the firm is particularly able in real estate finance, where it has a strong position in borrower-side assignments. The firm has strong and growing experience in fintech and has a focus on regulatory advice.
In M&A the firm advises listed and private businesses, both domestic and international, mainly on acquisitions and financial investments.
Key clients
Key clients include, Škoda Transportation Group, Elo Mutual Pension Insurance Company, Magenta Advisory, Nordea Bank, Sanoma Corporation, Suominen Corporation, Elisa Corporation, Citibank, Aberdeen Property Funds, Schroder Property Funds, Posti Corporation, Niam and Kesko Corporation.
White & Case
Headquartered in New York City and founded in 1901,
White & Case is one of the top law firms in the world in terms of revenue. Its Finnish operations are based in Helsinki.
Focuses / specialisms
The firm is among the best law firms in Finland for banking, capital markets and M&A.
Fully integrated with its global banking practice, its Finnish banking team has impressive experience in advising companies banks and other financial services clients on domestic and international financing transactions, covering the full extent of Finnish loan work.
In capital markets it advises issuers and underwriters on all types of debt, equity and equity-linked and hybrid transactions in the market.
In the M&A space the firm has experience in structuring and executing domestic and cross-border, mergers, acquisitions, demergers, leveraged buyouts, joint ventures and equity investments across a plethora of sectors.
Key clients
The firm’s key recent clients list includes the likes of Sanoma Corporation, Nordea Bank, Credit Suisse Securities, Metso Corporation, Huhtamäki, Citigroup Global Markets, OP Corporate Bank, Skandinaviska Enskilda Banken, Swedbank, Sampo, Solidium, Outokumpu, Ahlstrom-Munksjö, JP Morgan Securities, Evolver Investment Group and The Blackstone Group.
