Highlight 17 May 2022

Krogerus advises on the sale of Laakkonen Group automotive business to Hedin Mobility Group

Krogerus advised Laakkonen Group on the sale of its automotive business activities including new and used cars sales, after sales and spare parts, body and paint services and automotive support functions to Hedin Mobility Group.

Laakkonen is one of the largest car retailers in Finland, with revenues of MEUR 615 in 2021 and 855 employees in 21 outlets across 15 cities. The group sells approx. 25 000 cars annually, of which 10 000 new and 15 000 used. Laakkonen represents eight brands: BMW, MINI, Skoda, Ford, Opel, Nissan, Subaru and Mazda. The automotive operations of Laakkonen are divided in two separate entities: Veljekset Laakkonen which represents Nissan, Subaru, Mazda, Opel and are among the largest Skoda and Ford dealers in the country, and Bavaria Laakkonen, which is the largest BMW dealer in Finland as well as the only MINI dealer in the country. The shares in both Veljekset Laakkonen and Bavaria Laakkonen will be sold in the transaction to Hedin Mobility Group.

Hedin Mobility Group is a family-owned company, major detailer of vehicles and related automotive services in Sweden, Norway, Belgium and Switzerland. Acquisition allows Hedin Mobility Group access to Finnish market for the first time.

The Krogerus team was led by Partner Mika Ståhlberg, he was mainly assisted by Senior Associates Jasmin Wardi and Andreas Brink and Associates Annika Mattila and Juho Lakkala.

Partner Mika Puittinen led the advice on IT separation matters and he was assisted by Counsel Essi Launonen. Partner Joakim Jansson advised on the real estate aspects of the transaction.

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