News
26.11.2010 Kuusakoski Oy acquires 80% of the shares in Averhoff A/S
Kuusakoski Oy has acquired 80% of the shares in Averhoff A/S as per 24 November 2010. The former owner of Averhoff, Michael Averhoff, will keep the remaining 20% and continue as CEO of the company.
Kuusakoski Oy is a Finnish family-owned group, which posted revenue of approx. EUR 550 million in 2009. CEO Timo Kuusakoski is the fifth generation in the global group, which has offices in Scandinavia, Europe, the Baltic States and Eastern Europe, Russia, Asia and the USA.
Kuusakoski’s primary business area is the trade and processing of iron and metals. In recent years, there has been strong growth in the area of electronic waste recycling, and the acquisition of Averhoff is therefore a natural part of the group’s growth plans for this segment.
Translink Corporate Finance offices in Finland and Denmark acted as buy-side advisors for Kuusakoski Oy in this transaction.
Further information:
Tero Nummenpää +358 40 521 2585
”The goals of the transaction were defined well, and the result met our expectations.” –Jukka Rautio, managing director, HiQ Quality Services