Sale of Lapin Kumi to Circular Tire Services
3J Partners Oy acted as financial advisor to the sellers
in a transaction where Lapin Kumi Oy was sold to Norvestor-owned Circular Tire Service Europe Holding AB. As a result of the transaction, the entire share capital of Lapin Kumi Oy will be transferred to Circular Tire Services. The transaction has no impact on personnel or customers.
Lapin Kumi Oy, founded in 1947, is the largest tyre company in Finland and offers products and services related to tyres, rims and tyre maintenance services. The family-owned company is headquartered in Rovaniemi and serves customers in multiple locations throughout Finland, employing approximately 200 people. In 2023 the company’s turnover was approximately EUR 57 million.
“Lapin Kumi has grown rapidly into a national player in the recent years. With this transaction, we can accelerate our growth even further as a new bigger group and invest more heavily in sustainability and digitization. Norvestor has a great track record of developing and growing family businesses. They bring resources, insights, and proven operational models from various industries.”, comments Ville Ruokanen, CEO of Lapin Kumi.
Lapin Kumi
Lapin Kumi Oy, founded in 1947, is the largest private tyre company in Finland. The company offers products and services related to tyres, rims and tyre maintenance services in several locations throughout Finland employing nearly 200 people. Lapin kumi is headquartered in Rovaniemi and in 2023 the company’s turnover was approximately EUR 57 million.
Circular Tire Services Europe Holding AB
Circular Tire Services is a new Northern European tyre services group focusing on tire and rim sales, retreading of tyres, tyre maintenance and recycling of old tyres for both consumers and businesses. The cornerstones of the company are strong local relationships with customers and high customer satisfaction. Circular Tire Services is in the portfolio of Norwegian private equity investor Norvestor. The new Group will operate in Finland, Sweden, Norway and Poland and is expected to achieve net sales of approximately EUR 250 million and employ approximately 700 people by the end of 2024.
