Finland’s Koskisen to Acquire Iisveden Metsä

On Monday, Koskisen Corporation announced that it has agreed to acquire the business operations of Iisveden Metsä Oy. Located in Suonenjoki, Finland, Iisveden Metsä is mainly owned by private individuals and produces approximately 140,000 m³ of spruce sawn timber per year.

The transaction will be carried out as a business acquisition, including, with certain limited exceptions, the entire business of Iisveden Metsä, including the factory property located in Suonenjoki with machinery and equipment, as well as inventories. The personnel of Iisveden Metsä—approximately 50 people—will be transferred to Koskisen as “old employees.” The transferred business does not include the target company’s receivables, cash and cash equivalents, or other financial assets or liabilities.

If completed, the transaction will increase Koskisen’s revenue and EBITDA. The transaction is expected to create synergies in raw material sourcing, especially for birch logs, thus supporting the organic growth and profitability of the panel industry.

As a result of the acquisition, Koskisen’s annual wood procurement volume will increase to approximately 1,900,000 m³ (of which Iisveden Metsä’s share is approximately 400,000 m³) and sawing capacity to approximately 540,000 m³ (of which Iisveden Metsä’s share is approximately 140,000 m³).