Austrian Pfeifer purchases Northern-Finnish Pölkky Oy – Lexia a partner in the transaction

April 28, 2023

The Austrian company Pfeifer, which is one of the leading wood processing companies in Europe, successfully completed the acquisition of Pölkky Oy, the largest private wood processing company in Northern Finland. The contract was signed in December 2022. The transaction ensures profitable growth and development for both companies. When choosing a partner for legal matters to ensure a successful transaction, Pfeifer turned to Lexia, which offered all the necessary services to support the transaction.

Pölkky Oy is a wood processing company in Northern Finland, where it is also one of the most significant employers. The company will merge with the Austrian Pfeifer, as Pfeifer Holding GmbH signed a contract to acquire Pölkky Oy in December 2022. The transaction is significant for both parties. The transaction strengthens Pfeifer’s position as one of Europe’s leading wood processing companies, and helps it better face global competition. Pölkky has been owned by the Virranniemi family ever since it was established in 1968. For the family company, the transaction means stronger development potential, and it enables profitable growth to continue. Pölkky’s brand, management and operations will remain untouched even after the transaction.

A comprehensive partner to support the transaction

Lexia worked as Pfeifer’s partner in arranging the transaction. Large-scale transactions always involve many areas that require specific expertise, and a successful, smooth transaction requires legal services as well as advising in economic and tax-related matters. Lexia worked with Pfeifer comprehensively in a way that allowed Pfeifer to receive all the support related to the transaction through one contact. Trusted partners worked as subcontractors in the background with Lexia. Hill Audit Oy was responsible for economic advisory services while Alder & Sound Oy was responsible for matters related to taxation. From the client’s perspective, everything was arranged in a way that allowed the client to do business with one partner, Lexia, in all matters related to the transaction. Lexia’s highly experienced team supported negotiations, which made the transaction easier to complete. In practice, Lexia led all advisors, so we in management were able to focus on the project’s commercial side. Lexia responded quickly, even during the negotiations’ busiest times, and the project always progressed smoothly”, says Pfeifer Holz Managing Director Josef Dringel, who was responsible for the acquisition.

We at Lexia have strong expertise in mergers and acquisitions. We have successfully managed the sale and purchase of various companies, together with company assets, as well as related funding and contract arrangements. We advise companies, organisations, investors and sponsors. We bring our clients peace of mind and offer seamless solutions for completing complex projects. We help our clients succeed as a comprehensive partner.

We offer our services across Finland and regionally in Northern Finland at our Oulu office – contact us, so we can discuss how to support your business! >>

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