Guernsey Press

Carey Olsen advises on Terra Firma acquisition

GUERNSEY-BASED Guy Hands’s Terra Firma has been advised on its proposed acquisition of a Finnish real estate company by law firm Carey Olsen.

Published
Tom Carey from law firm Carey Olsen.

Parmaco is a fast-growing Finnish company specialising in building and renting high-quality buildings for schools, day-care providers and nursing homes.

Working alongside Freshfields Bruckhaus Deringer as UK legal adviser to Terra Firma, Carey Olsen’s corporate team in Guernsey advised on the establishment and regulation of Terra Firma Special Opportunities Fund IV – the Guernsey closed-ended fund through which Parmaco was acquired from Finnish private equity group MB Funds, and all Guernsey legal aspects of the transaction.

The Carey Olsen team was led by partner Tom Carey with assistance from senior associate John Scanlan and associate Kristina Mikhaylova.

‘We are delighted to have assisted Terra Firma on the establishment of its latest special opportunities fund and its subsequent agreement to acquire a fast-growing and exciting business such as Parmaco,’ said Mr Carey.

In the transaction, Terra Firma Special Opportunities Fund IV – the firm’s latest special opportunities fund – has partnered with Metric Capital, the pan- European private capital manager, and Sun Hung Kai & Co Limited, a leading investment firm headquartered in Hong Kong. The deal is expected to be completed by the end of the year.