We advised Geonova Oy, a leading provider of property-specific heating and cooling solutions, in its acquisition of Aitoenergia Oy, a renewable energy service company with the industry’s most comprehensive experience and diverse portfolio of implementations.
The acquisition is part of a growth strategy aimed at making Geonova the leading provider of property-specific heating and cooling solutions in Finland. With the acquisition, Geonova’s number of customer contracts will grow to approximately 150, including energy-as-a-service, leasing and monitoring. The acquisition is financed by funds managed by CBRE Investment Management, the majority owner of Geonova. This is the third transaction in the energy-as-a-service market where we have advised CBRE Investment Management.
Our core deal team consisted of Partner Mikko Eerola, Associate Annika Gustafsson and Senior Associate Vilma Kivilahti, assisted by Senior Attorney Eila El Asry and Associates Alexander Schmidt, Christian Lehtinen, Theo Pynttäri and Jonas Ström. Associate Sina Bergmann advised on competition matters.