Deal Announcement ProPellet
Type of deal: Sale of shares
Sector: Energy & Utilities
PwC Finland acted as the exclusive M&A, financial, legal and tax advisor to the owners of ProPellet Group in the majority sale of the company to CapMan Infra.
Founded in 2006, ProPellet is Finland’s leading producer of pellet-based bioenergy and heat-as-a-service (“HaaS”) operator and now employs about 25 people. The Company provides its customers with property-specific heating plants as a service, with a portfolio of over 120 heating sites across Finland. In addition, the Company operates its own pellet production facilities in Ylivieska and Tervola, which utilise side streams from the forestry and sawmill industries as feedstock. ProPellet's business has experienced strong growth in recent years, particularly due to the ongoing transition from oil-based heating to biofuels.
Seller: Shareholders of ProPellet Oy
Buyer: CapMan Nordic Infrastructure II fund
Deal announcement date: 15.11.2024
PwC's role: Sellers' M&A, financial, legal, and tax advisor
