Merilampi is representing Kesko Corporation in its acquisition of all shares in Onninen Oy from Onvest Oy. The enterprise value of the transaction is EUR 369 million. Onninen’s steel business and Russian subsidiary are not included in the acquisition.
Onninen is one of the leading providers of HEPAC and electrical products and services in the Baltic Sea Region and Scandinavia. The group specialises in B2B trade and has around 150 units in Finland, Sweden, Norway, Poland, the Baltic countries and Russia. The business to be acquired from Onninen employs around 3,000 people, of which around 1,200 work in Finland.
With the acquisition, Kesko strengthens its position in the building and technical trade in Finland and the rest of Europe.
The completion of the acquisition is subject to the approval of the competition authorities and the fulfilment of the other terms and conditions of the transaction. The acquisition is expected to be completed during the first half of 2016.