Lumme Energia Oy Oomi Oy
Lumme Energia and Oomi to Merge, Creating Finland’s Largest Electricity Retailer – Neuvoa Advisors Acts as Advisor to the Owner of Lumme Energia
Neuvoa Advisors acted as advisor to Suur-Savon Sähkö Oyj (SSSOY), an energy company operating in the Lakeland region, in a transaction where the group’s subsidiary Lumme Energia will merge with Oomi. Once completed, the transaction will create Finland’s largest electricity retailer and energy service company, with the two major industry players serving a combined total of over 800,000 customers across the country.
The transaction remains subject to Finnish Competition and Consumer Authority approval. The target date for transferring all Lumme Energia customers to Oomi is January 1, 2026, though the schedule will be confirmed after regulatory review. Customer contracts, terms, durations, and prices will remain unchanged, and no action is required from customers.
Strategic Growth Through Acquisitions
Neuvoa Advisors has long served as Suur-Savon Sähkö’s advisor in transactions that have established Lumme Energia as a national electricity retailer. In recent years, Lumme Energia has expanded its electricity sales through several regional acquisitions, including the electricity retail businesses of Vatajakosken Sähkö (2020) and Okun Energia (2021), as well as the acquisition of Loiste Sähkönmyynti (2021).
Executive comments
Tuomas Oksanen, CEO, Oomi Oy:
“This merger is a significant step in our growth strategy, and as a result we will become the market leader. We believe that in the future, mergers and acquisitions will continue to take place in Finland’s electricity retail sector, as companies must be able to respond to the needs of active customers and to rapid changes in the energy market.”
Janne Laine, CEO, Lumme Energia Oy:
“Together with Oomi, we will continue doing what we do best: helping each of our customers choose smart and sustainable energy solutions. This is not just a merger between two companies, but a unique opportunity for both to build something new together. By combining our strengths, we can offer our customers more value and respond even better to their evolving needs.”
Financial information
- Oomi Oy revenue 2024: €373,9 million
- Personnel: ca. 110
- Lumme Energia Oy revenue 2024: €314,6 million
- Personnel: ca. 50
The parties have agreed not to disclose the purchase price or other terms of the transaction. The deal covers the entire business operations of Lumme Energia.