CapMan Infra’s Loviisan Lämpö acquires local Finnish district heating business from Nivos Vesi ja Lämpö

March 23, 2022

CapMan Infra’s Loviisan Lämpö acquires local Finnish district heating business from Nivos Vesi ja Lämpö

Loviisan Lämpö Oy and Nivos Vesi ja Lämpö Oy have signed an agreement regarding the acquisition of the Pukkila and Pornainen district heating business, on 16 March 2022. The business, located in the Uusimaa region in southern Finland, will transfer to the new owner on 1 April 2022.

”We welcome all Pornainen and Pukkila district heating customers to Loviisan Lämpö. We have initiated our journey towards fossil free heat production in Loviisa and are set to continue this important work also in Pornainen and Pukkila. Our main goal is to offer all our customers reliable, environmentally friendly, and sustainably produced district heating, today and in the future”, says Mikko Paajanen, CEO at Loviisan Lämpö.

“District heat deliveries will continue normally, and customers will not experience interruptions. The ownership change does not require any actions from the customer’s side. Nivos holds a strong local know-how which Loviisan Lämpö wants to utilise in the maintenance and operations of the district heating plants. District heating customers will be well taken care of also going forward,” shares Kimmo Rintamäki, Managing Director at Nivos Vesi ja Lämpö.

“We are excited about welcoming Pornainen and Pukkila district heating into Loviisan Lämpö. At Loviisan Lämpö we have been able to take meaningful steps towards fossil free heat production and look forward to applying our learnings and invest in the development Pornainen and Pukkila heat production as well,” says Sauli Antila, Investment Director at CapMan Infra.

“Developing the district heating in Pornainen and Pukkila has gotten off to a good start and looking forward, we believe that Loviisan Lämpö has greater resources and a strong commitment to future investment needs. They are, like Nivos, active operators in the energy field and have a great deal of experience from developing district heating operations,” Rintamäki shares about the reasoning behind the sale.

For more information, please contact:

Sauli Antila, Investment Director at CapMan Infra, +358 40 658 9708

Mikko Paajanen, CEO at Loviisan Lämpö, +358 400 320 908

About CapMan

CapMan is a leading Nordic private asset expert with an active approach to value creation. As one of the private equity pioneers in the Nordics we have built value in unlisted businesses, real estate, and infrastructure for over three decades. With over to 4.5 billion in assets under management, our objective is to provide attractive returns and innovative solutions to investors. We are dedicated to set science-based targets to reduce our greenhouse gas emissions in line with the Paris Agreement. We have a broad presence in the unlisted market through our local and specialised teams. Our investment strategies cover minority and majority investments in portfolio companies and real estate, and infrastructure assets. We also provide wealth management solutions. Our service business includes procurement and analysis, reporting and back office services. Altogether, CapMan employs approximately 160 professionals in Helsinki, Stockholm, Copenhagen, Oslo, London and Luxembourg. We are listed on Nasdaq Helsinki since 2001.