Krogerus advises CapMan Infra on its investment in ProPellet

Krogerus advised CapMan Nordic Infrastructure II on its majority investment in ProPellet, a heat-as-a-service (“HaaS”) operator and bioenergy producer. The company’s key personnel will continue as minority owners alongside CapMan Infra. CapMan is a leading Nordic private asset expert.

ProPellet is Finland’s leading producer of pellet-based bioenergy. The company provides its customers with property-specific heating plants as a service, with a portfolio of over 120 heating sites across Finland. CapMan Infra aims to support the company’s growth by financing investments in the HaaS operations and expansion into new customer groups and energy technologies. The transaction is conditional on approval by the competition authorities and is expected to be completed by the end of 2024.

The Krogerus team, led by Partners Marcus Möller and Antti Luhtala, included Associates Kaarle Kivimäki, Saara Kinnunen, Aleksi Kärnä, Kalle Lipsanen, Henna Olkkonen and Aleksi Yli-Houhala. Partner Heidi Kivenjuuri advised on financing matters and she was assisted by Associate Elina Terho. Partner Carola Möller advised on employment matters and she was assisted by Associate Elmeri Simpanen. Partner Simo Autio advised on regulatory matters and he was primarily assisted by Senior Associate Essi Miettinen and Associate Oskar Kaskela. Partner Samu Lassila advised on tax matters and he was assisted by Associate Anniina Konttinen.