Carey Olsen's corporate team in Guernsey has advised European private equity firm Terra Firma on its proposed acquisition of Parmaco Oy from Finnish private equity group MB Funds.
Parmaco is a fast-growing Finnish real estate company that specialises in building and renting buildings for schools, day care providers and nursing homes. Over the past four years, the company has grown its asset base six-fold and its strategy over the next five years is to double in size again.
Working alongside Freshfields Bruckhaus Deringer as UK legal adviser to Terra Firma, the Carey Olsen team advised on the establishment and regulation of Terra Firma Special Opportunities Fund IV, the Guernsey closed-ended fund through which Parmaco was acquired, and all Guernsey legal aspects of the transaction.
The team was led by Partner Tom Carey, with assistance from Senior Associate John Scanlan and Associate Kristina Mikhaylova.
In the transaction, Terra Firma Special Opportunities Fund IV – the firm's latest special opportunities fund – has partnered with pan-European private capital manager Metric Capital and Hong Kong-based investment firm Sun Hung Kai & Co. The deal is expected to be completed by the end of the year.