Eversheds Sutherland advised Korona Invest IV Ky in a three-transaction acquisition in the internal logistics sector

Competition Law | M&A

April 7, 2026

Competition

M&A

Eversheds Sutherland advised its client Korona Invest IV Ky in a transaction in which the client acquired shares in two Finnish internal logistics companies as well as the business operations of a considerable player in the sector of indoor logistics.

The deal comprised three separate transactions: the acquisition of the share capital of Niparmi Sisälogistiikka Oy, the share capital of Sareskoski Oy, and the business operations of Rastec Sisälogistiikka Oy. All three transactions were signed simultaneously and completed on 31 March 2026.

The transaction creates a new domestic integrator capable of serving customers across the full spectrum of internal logistics needs — from furniture and space planning to technology solutions. The combined pro forma revenue of the three companies in 2025 was approximately EUR 32 million. Korona Invest acts as the majority owner and supports the combined entity in its growth, with key personnel from all three companies continuing in leadership roles and as significant shareholders.

The mandate was broad in scope and multidisciplinary in nature. Eversheds Sutherland’s advice covered deal structuring, due diligence, share purchase and shareholders’ agreement negotiations, reinvestment documentation, management agreements and lease agreements. The firm also handled the merger control filing with the Finnish Competition and Consumer Authority (KKV).

The Eversheds Sutherland team comprised Antti Husa, Tiina Koivisto, Josefina Lind, Titta Peltonen and Riia Ruohomäki on M&A and transactional matters, and Sanni Tirkkonen and Olli Hyvönen on competition law matters.

Key contacts

Antti Husa

Attorney-at-Law, Partner

+358 44 750 5657

antti.husa@eversheds.fi

@https://www.linkedin.com/in/antti-husa-72b49036/

Antti Husa has been involved in over a hundred different corporate arrangements, ranging from assisting seed rounds of growth companies to IPOs. He actively serves as an advisor to both sellers and buyers in corporate transactions, and he also participates in the board work of several client companies as a board expert member and secretary.

Expertise includes
Private M&A
Venture Capital Transactions
Corporate and company law
Commercial agreements
Restructuring and Insolvency

Supreme Administrative Court Dismissed the Finnish Competition and Consumer Authority’s Appeal on Legal Costs

Competition Law | Dispute Resolution

November 6, 2025

Competition

Dispute Resolution

On 3 November 2025, the Supreme Administrative Court of Finland (SAC) dismissed the appeal filed by the Finnish Competition and Consumer Authority (FCCA) concerning legal costs in a competition law case. The case related to alleged prohibited cooperation in the market for plastic infrastructure pipes in Finland and involved several pipe manufacturers and wholesalers.

After a lengthy investigation and court proceedings, in August 2024 the Market Court rejected the FCCA’s proposal for the imposition of fines, finding that the authority had not presented sufficient evidence to support its allegations. The Market Court also ordered the FCCA to reimburse part of the companies’ legal costs.

The FCCA did not appeal the Market Court’s decision on the substance of the case but sought to overturn the ruling on legal costs. The Supreme Administrative Court upheld the Market Court’s decision and further ordered the FCCA to compensate part of the companies’ costs incurred in the appeal proceedings before the SAC.

We successfully represented Pipelife Finland Oy throughout the process — from the FCCA’s surprise inspection to the Supreme Administrative Court’s final decision — over a period of more than nine years.
Our team consisted of Partner Niina Rosenlund, Partner Olli Hyvönen, Counsel Heidi Markus, Associate Vivian Villa, and Associate Alex Niva.

Competition law proceedings can be demanding and resource-intensive for companies. The situation can be significantly alleviated if the company has prepared in advance for a potential authority inspection and established internal procedures and clear roles. Preparation saves both time and costs.

If you would like to ensure that your company is ready to handle authority inspections, please contact us.

Key contacts

Niina Rosenlund

Partner

+358 50 382 1677

niina.rosenlund@eversheds.fi

@https://www.linkedin.com/profile/view?id=14970998

Niina Rosenlund has extensive experience in dispute resolution, both before general courts and in arbitration proceedings. She also advises clients on matters relating to management liability and financial offence cases. Niina has frequently acted as a sole arbitrator and as a member of arbitral tribunals, and she has also served on several occasions as a trustee in redemption disputes under the Finnish Limited Liability Companies Act.

Olli Hyvönen

Partner

+358 50 590 1165

olli.hyvonen@eversheds.fi

During his career, Olli has been involved in numerous major antitrust cases and has represented leading industry players in cartel investigations, other competition law proceedings, State aid matters, and public procurement cases.

Since 2000, Olli has actively advised tenderers in public procurement processes governed by procurement legislation, as well as represented clients in related court proceedings before the Market Court and the Supreme Administrative Court.

Kaleva Media and Ilkka to Merge Media Operations in Strategic Share Exchange

Competition Law | Employment | IP & Data | M&A | Tax

April 3, 2025

M&A

Ilkka and Kaleva have today signed a share exchange agreement, under which the companies will merge their media businesses. The corporate arrangement will be carried out as a share exchange, whereby Ilkka Oyj’s subsidiary, I-Mediat Oy, will be fully transferred to the ownership of Kaleva365 Oy. As a result of the arrangement, Ilkka Oyj will own 35% of Kaleva365 Oy, while Kaleva Oy will own the remaining 65%.

The merger aims to strengthen regional media and ensure the continuity of reliable, high-quality, and independent regional journalism. The arrangement also enables sufficient investment in the development of digital media.

“It was a pleasure to advise on a transaction that strengthens the position of regional media in Finland and creates a solid foundation for developing journalistic content in the digital landscape. This arrangement demonstrates how collaboration can lead to sustainable and competitive solutions in an evolving media environment.”
— Kirsi Karvonen, Partner

The legal advisory was led by Partner Kirsi Karvonen, supported by Partners Kaija Pulkkinen (Employment Law) and Olli Hyvönen (Competition Law), Specialist Counsel Tiina Koivisto, Associates Alex Niva (Competition Law) and Josefina Lind (Employment Law), and Senior Legal Trainee Joona Eriksson.

Read more in the official stock exchange release.

Key contacts

Kirsi Karvonen

Partner

+358 50 5480730

kirsi.karvonen@eversheds.fi

@https://www.linkedin.com/in/kirsi-karvonen-ent-putkonen-53652613/

Kirsi Karvonen advises clients primarily on M&A and corporate transactions, including asset transfers, share exchanges, mergers, and demergers. Over the course of her career, she has been involved in hundreds of diverse transactions and corporate arrangements. Kirsi also has extensive experience in private equity investments and has advised numerous private equity funds.

Meriaura Group Oyj and Summa Defence Oy Join Forces in a Strategic Share Exchange

Competition Law | M&A

March 4, 2025

Buy side

M&A

We had the privilege of advising Meriaura Group Oyj in a conditional share exchange agreement, enabling the company to acquire Summa Defence Oy, a key player in the consolidation of defense and security sector businesses.

This transaction marks the establishment of a new corporate group in Finland, specializing in security and national resilience, with dual-use technology at its core. Concurrently, Merilogistics (Meriaura Oy and its subsidiary VG-EcoFuel Oy) will be transferred to Meriaura Invest Oy. Upon completion, the newly listed company will operate as Summa Defence Oyj.

Our team provided both legal and financial advisory throughout the transaction:

Legal advisory: Partners Harri Tolppanen and Olli Hyvänen, along with Specialist Counsel Jarkko Hankaa
Financial advisory: COO Antti Liimatainen, M&A Manager Max Tarkkala, and M&A Director Henri Falck

Key contacts

Harri Tolppanen

Attorney-at-Law, Partner

+358 40 063 5045

harri.tolppanen@eversheds.fi

Harri Tolppanen has taken care of hundreds of both domestic and cross-border mergers, acquisitions, investments and corporate transactions and their financing solutions, corporate restructurings, as well as related complex legal questions pertaining especially to company and contract law.

Antti Liimatainen

Chief Operating Officer

+358 50 365 1197

antti.liimatainen@eversheds.fi

@https://www.linkedin.com/in/antti-liimatainen-24877115/

Antti Liimatainen is the Chief Operating Officer at Eversheds Sutherland Finland. He has experience in more than 100 Finnish and cross-border corporate transactions.

Expertise includes:
M&A transactions
Financing
Exit readiness
Transaction readiness
Post merger integration

Eversheds Sutherland advised Korona Invest IV Ky in a three-transaction acquisition in the internal logistics sector

Key contacts

Antti Husa

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Key contacts

Niina Rosenlund

Olli Hyvönen

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