Suur-Savon Sähkö acquires Loiste Sähkönmyynti Oy – Neuvoa Advisors advisor to the buyer
Suur-Savon Sähkö, Loiste and Energiapolar have entered a transaction where 100% of Loiste Sähkönmyynti Oy’s shares will be bought by Suur-Savon Sähkö. Neuvoa Advisor’s role in the transaction was that of the sole advisor to the buyer. The transaction is a significant part of Suur-Savon Sähkö’s strategy of leadership in Finnish electricity retail. Neuvoa has supported Suur-Savon Sähkö in their inorganic growth strategy for a long time, the last transaction being the acquisition Vatajakosken Sähkö’s electricity retail business in 2020.
Lumme Energia and Loiste Sähkönmyynti, the electricity retail businesses of Suur-Savon Sähkö, will at first operate as sister companies, but will strive to create operative efficiency and synergies from the very start. The combined retail business has over 300 000 clients in Finland, representing a market share of ca. 9% nationally.
Tapo Lehtoranta, the CEO of Lumme Energia, had the following to say regarding the deal:
“This transaction further strengthens our capabilities to deliver new and cost-efficient energy solutions and services to the Finnish people. Our goal is to reach 500 000 clients in Finland in the year 2025. Lumme Energia has grown well also organically over the last years, but our ambitious goal will for sure require further consolidation in the future. At the same time, we must prepare for the energy market’s transition into being more and more Nordic.”
Read more about the transaction, the comments of Loiste Sähkönmyynti’s CEO and Lumme Energia from the following link:
In buy-side advisory, Neuvoa Advisors is specialised in strategic acquisitions and systematic acquisition programs. Our goal is to support our clients in value-creation by creating a structural approach to acquisitions ensuring an efficient negotiation process while focusing on securing our client’s long-term success.