Richard Åkerman’s practice focuses on corporate and private equity transactions. He frequently provides advice regarding corporate law, governance and transactional matters to corporations and financial sponsors. Richard has also advised many industrial and technology companies in restructuring and insolvency situations. Richard Åkerman is the chairman of Snellman’s board of directors.
Snellman counsel to Castlelake in its Investment in Scandinavian Airlines
Snellman acted as Swedish counsel to Castlelake, L.P. in its investment as part of a consortium for $1.2 billion debt and equity investment in the reorganized Scandinavian Airlines implemented pursuant to a Chapter 11 plan and Swedish reorganization proceeding.
Snellman’s advisory team included Richard Åkerman, Jonas Sjöberg and Aykut Aslan Yucel (Private M&A), Carolina Wahlby, Fredrik Olsson, Albert Danielsson, Oscar Bengtsson and Lina Lundevall-Brunö (Finance & Restructuring), Mattias Friberg and Emma Greiff (Public M&A), Peter Forsberg, Philip Thorell and Lars Lundgren (Competition and FDI), Pontus Ewerlöf and Gustav Lewin (Dispute Resolution) and Jenny Lundberg (Employment).
Snellman Counsel to Blåsjön Kraft AB in the Sale of Blåsjön Nät AB
Snellman acted as counsel to Blåsjön Kraft AB in the sale of Blåsjön Nät AB, a Swedish electricity distribution system operator, for approximately GBP 7 million to Downing Renewables & Infrastructure Trust (DORE) [LON:DORE], a closed-end investment trust with a portfolio of renewable energy and infrastructure assets in the UK and Northern Europe.
Blåsjön Nät delivers 16 –18 GWh per annum of electricity to approximately 1,500 customers.
Snellman’s advisory team comprised Richard Åkerman, Astrid Trolle Adams, Alexander Lindqvist, and Emma Johari (Private M&A)
Snellman Local Counsel to GfK SE in the EUR 315 Million Sale of Its European Consumer Panel Business (GfK CP) to YouGov PLC
Snellman acted, together with Jones Day, as counsel to GfK SE in the EUR 315 million sale of its European Consumer Panel business (GfK CP) to YouGov PLC, a leading international online research data and analytics technology group headquartered in the United Kingdom and listed on the London Stock Exchange (LSE: YOU).
GfK CP compasses over 100,000 households with panels across 16 European countries collecting and providing data on shopping behaviour relating to fast moving consumer goods.
Snellman’s advisory team comprised Richard Åkerman, Astrid Trolle Adams, Ulrika Wigart, Klara Hasselberg (Private M&A), Jenny Lundberg, Josephine Gjerstad Medina (Employment), and Olof Östman (IP & Tech).
Snellman Counsel to the Power Group in Establishing Its Partnership with MediaMarktSaturn
Snellman acted as counsel to the Northern European electronics retailer Power International AS and its subsidiary Power Retail Sweden AB (the “Power Group”), in its acquisition of MediaMarkt Sweden, Europe’s leading retailer of home electronics, and thereby in the establishment of the new partnership between the Power Group and MediaMarkt.
Snellman’s core team included Richard Åkerman, Miklos Kovacs Kal, Nicolina Hultgren Farsani, Tanja Schnitt and Alexander Lindqvist (Private M&A), Peter Forsberg, and Emma Fröderberg Shaiek (Competition & Regulatory), Jenny Lundberg and Josephine Lindgren (Employment), Mikael Stabo and Andreas Wingren (Real Assets), Anna Ribenfors and Jessica Tressfeldt (IP & Technology), and Ebba Sjölin (Finance & Restructuring).
Snellman Counsel to Nordic Metal Holdings in Its Acquisition of Alumeco Group
Snellman advised Nordic Metal Holdings in its acquisition of Alumeco Group, a metal wholesaler primarily within aluminum. As a part of a multinational transaction, our team acted as an advisor in Finland and Sweden. Moalem Weitemeyer acted as global lead counsel.
Nordic Metal Holdings is part of the Amari Family, an international multi-metal distributor with a network of service centers covering the whole of Europe. The acquisition is pending regulatory approval.
Our cross-border advisory team comprised Rabbe Sittnikow, Richard Åkerman, Annika Schauman, Moa Fritzon Torbjelt, Jonas Sjöberg, Tanja Schnitt, Olof Östman, Andreas Wingren, Jens Rönneholm, Santeri Jääskeläinen, Juha Ellonen, Risto Ojakoski, Josephine Gjerstad Lindgren, Philip Thorell, Wilhelm Sanmark, Anniina Jaatinen, Hilma Mäkitalo, and Tiia Mäki.
Snellman Counsel to Transdev Sverige in the Divestment of RP Charter to Västanhede Holding
Snellman acted as counsel to Transdev Sverige, a Sweden-based private passenger transport company, in the sale of its commercial bus operations, which are run by RP Charter. RP Charter operates charter buses in central Sweden and boat bus traffic from Stockholm city to the ferry ports in Nynäshamn, Grisslehamn, and Värtahamnen.
Snellman’s core team included Richard Åkerman, Maja Uppgren, and Tanja Schnitt.
Snellman Counsel to Sylvamo Corporation in the Acquisition of Stora Enso Paper Nymölla AB (Including Its Uncoated Freesheet Paper Mill) in Nymölla, Sweden
Snellman acted as counsel to Sylvamo Corporation, a global paper company with mills in Europe, Latin America, and North America, in the acquisition of Stora Enso Nymölla Paper AB, which is operating an uncoated freesheet paper mill in Nymölla, Sweden, for approximately EUR 150 million.
Snellman’s core team included Richard Åkerman, Miklos Kovacs Kal, Alexander Lindqvist and Nadine Lågland (Private M&A), Jenny Lundberg and Lisa Pålsson (Employment), Mikael Stabo and Andreas Wingren (Real Assets) and Olof Östman (IP & Tech).
Snellman Counsel to Xindao in Its Acquisition of Vinga Sweden
Snellman acted as counsel to Xindao, a Dutch company and the leading European provider of sustainable business gifts serving over 4,500 distributors, in its acquisition of Vinga Sweden.
With the acquisition, Xindao becomes the leading provider of business gifts in Sweden and further strengthens its position across the Nordics.
Snellman’s core team comprised Richard Åkerman, Maja Uppgren, Nicolina Hultgren Farsani and Tanja Schnitt (Private M&A), Andreas Wingren (Real Asset), Josephine Lindgren (Employment), Ebba Sjölin (Finance), and Olof Östman (IP & Tech).
Snellman Counsel to Gores Guggenheim, Inc. in its Closing of Business Combination with Polestar
Snellman acted as counsel to Gores Guggenheim, Inc., a special purpose acquisition company (SPAC) formed by the affiliates of The Gores Group and Guggenheim Capital, LLC, in its business combination with the global electric performance car company Polestar. The transaction implies an equity value of approximately USD 20 billion for Polestar. The combined company will retain the Polestar name and will commence trading on the Nasdaq under the new ticker symbol ‘PSNY’ on June 24, 2022.
Polestar is a Swedish premium electric performance car brand, headquartered in Gothenburg and founded by Volvo Cars and Geely Holding. Polestar’s vehicles are available and on the road in fourteen active global markets across Europe, North America, and China.
Gores Guggenheim, Inc. completed its initial public offering in April 2021, raising approximately USD 800 million in cash proceeds. Gores Guggenheim’s strategy is to identify and complete business combinations with market leading companies with strong equity stories that will benefit from the growth capital of the public equity markets and be enhanced by the experience and expertise of Gores’ and Guggenheim’s long history and track record of investing in and operating businesses.
Snellman acted as a legal advisor to Gores Guggenheim, Inc. together with Weil, Gotshal & Manges LLP.
Snellman’s advisory team included Richard Åkerman, Douglas Essehorn, Iiris Ikkelä, and Alexander Lindqvist (M&A), Elisabeth Vestin and Anna Ribenfors (IP & Tech), Josephine Lindgren and Lisa Pålsson (Employment), Fredrik Olsson and Sofia Bengtsson (Finance), and Andreas Wingren (Real Estate).
Snellman Counsel to Fazer Group in Its Acquisition of Trensums Food
Nordic Law Firm Snellman acted as counsel to Fazer Group in its acquisition of Trensums Food, a Swedish market-leading producer of plant-based drinks, with a strategic focus on oat drinks. Trensums Food, together with its fully owned subsidiary, generated 779 MSEK (about 77 MEUR) of net sales in the fiscal year ending April 2021. The acquisition is a further step in the implementation of Fazer Group’s growth strategy and ambition to become one of the leading players in non-dairy and plant-based food in Northern Europe. The transaction is subject to Swedish Competition Authority approval.
Trensums Food is a growth company and a leading player in liquid plant-based foods with oat drinks as its main focus. The company was the first in the world to commercially produce oat drinks and today Trensums Food sells its oat drinks to a large part of the world. In recent years, Trensums Food has invested in expanded capacity based on strong demand, which continues to grow – setting the stage for further growth in the future.
Fazer Group, the Food Experience Company, focuses on fast-moving consumer goods, operates in eight countries and exports to around 40 countries. In 2020, Fazer Group had net sales of 1.1 billion euros and almost 8,500 employees. Fazer Group’s operations comply with ethical principles that are based on the Fazer Group’s values and the UN Global Compact.
For further information, please refer to Fazer Group’s press release here.
Our core advisory team included Richard Åkerman, Miklos Kovacs Kal, Jonas Sjöberg, Iiris Ikkelä and Emma Andersson (M&A), Mikael Stabo and Andreas Wingren (Real Assets), Jessica Tressfeldt (IP & Tech), Josephine Lindgren (Employment) and David Olander (Competition).
Snellman Counsel to Charles River in Its Sale of Cobra Matfors to Flerie Invest
Snellman acted as counsel to Charles River Laboratories International Inc. in its sale of Cobra Biologics Matfors AB to Flerie Invest for approximately USD 52,000,000 in cash, with potential contingent payments of up to an additional USD 25,000,000.
The Swedish investment company Flerie Invest’s acquisition and investment has been made with the intention of establishing an innovation hub for advanced vaccines and biological drugs in Matfors in northern Sweden. The site in Matfors will receive additional support from the Swedish Government through its innovation agency Vinnova. The new company will trade as NorthX Biologics.
Charles River provides essential products and services to help pharmaceutical and biotechnology companies, government agencies, and leading academic institutions around the globe accelerate their research and drug development efforts. Charles River Laboratories International, Inc. is publicly traded on the New York Stock Exchange.
For further information, please refer to Charles River’s press release here.
Our core advisory team included Richard Åkerman and Douglas Essehorn (Private M&A).
Snellman Counsel to Gores Guggenheim, Inc. in its Proposed Business Combination with Polestar
Snellman acted as counsel to Gores Guggenheim, Inc., a special purpose acquisition company (SPAC) formed by the affiliates of The Gores Group and Guggenheim Capital, LLC, in its proposed business combination with the global electric performance car company Polestar. The transaction implies an equity value of approximately USD 20 billion for Polestar. Upon closing, which is expected to take place in the first half of 2022, the combined company will be held by a new public company which is expected to be listed on the Nasdaq under the ticker symbol “PSNY”.
Polestar is a Swedish premium electric performance car brand, headquartered in Gothenburg and founded by Volvo Cars and Geely Holding. Polestar’s vehicles are available and on the road in fourteen active global markets across Europe, North America, and China.
Gores Guggenheim, Inc. completed its initial public offering in April 2021, raising approximately USD 800 million in cash proceeds. Gores Guggenheim’s strategy is to identify and complete business combinations with market leading companies with strong equity stories that will benefit from the growth capital of the public equity markets and be enhanced by the experience and expertise of Gores’ and Guggenheim’s long history and track record of investing in and operating businesses.
Snellman acted as a legal advisor to Gores Guggenheim, Inc. together with Weil, Gotshal & Manges LLP.
Snellman’s advisory team included Richard Åkerman, Douglas Essehorn, Iiris Ikkelä, and Alexander Lindqvist (M&A), Elisabeth Vestin and Anna Ribenfors (IP & Tech), Josephine Lindgren and Lisa Pålsson (Employment), Fredrik Olsson and Sofia Bengtsson (Finance), and Andreas Wingren (Real Estate).
Snellman Acted as the Swedish Counsel to Charles River Laboratories International, Inc. in the Acquisition of Cognate BioServices, Inc.
Snellman acted as the Swedish counsel to Charles River Laboratories International, Inc. in the acquisition of Cognate BioServices, Inc,. including its Swedish and British subsidiaries Cobra Biologics, a premier cell and gene therapy contract development and manufacturing organisation. The purchase price amounted to approximately USD 875 million.
Charles River Laboratories International, Inc. provides essential products and services to help pharmaceutical and biotechnology companies, government agencies, and leading academic institutions around the globe accelerate their research and drug development efforts. Charles River Laboratories International, Inc. is publicly traded on the New York Stock Exchange.
Snellman’s core team included Richard Åkerman, Nicole Jerad, Douglas Essehorn, Iiris Ikkelä, and Alexander Lindqvist (Private M&A), Jenny Lundberg (Employment), and Elisabeth Vestin and Itai Coleman (IP & Tech).
Snellman Counsel to Altra Industrial Motion in Its Strategic Partnership with MTEK Industry AB
Snellman acted as counsel to Altra Industrial Motion, a premier global designer and manufacturer of motion control and power transmission solutions, in the forming of a strategic partnership with advanced manufacturing software solution company MTEK Industry AB. The alliance with MTEK supports Altra Industrial Motion’s ongoing commitment to continue moving up the technology spectrum, offering more advanced solutions to its clients.
Snellman’s team included Richard Åkerman, Miklos Kovacs Kal, Nicole Jerad (Private M&A), Jenny Lundberg (Employment), and Itai Coleman (IP & Tech).
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