Sorainen has advised Gjensidige on the SEK 1.4 billion acquisition of Falck Roadside Assistance from Falck Investment Sverige. Gernandt & Danielsson advised the seller.
Closing is expected in the first quarter of 2022, pending regulatory approval.
According to the firm, "the acquisition is in line with Gjensidige’s strategy of taking a holistic approach to answering customers’ needs and complements Gjensidige’s products and services in the Nordic mobility space."
Falck Nordic and Baltics is a roadside assistance provider with nationwide franchise networks in Sweden, Norway, Finland, Estonia, and Lithuania. The company offers roadside assistance and call center services including emergency repairs, tire replacements, battery and bulb changes, and battery boosters as well as general towing services.
"Our key priority over the next years is to maintain and further strengthen our direct customer relationship and become an even better and more relevant partner for our customers," Gjensidige CEO Helge Leiro Baastad commented. "Falck Nordic & Baltics’ road assistance services is a very good strategic fit for us and provide a natural complement to our offerings in the mobility space, with a focus on convenience for our customers."
The Sorainen team was led by Estonia-based Partner Toomas Prangli and Counsel Lauri Liivat and included Counsels Piibe Lehtsaar and Pirkko-Liis Harkmaa, Associates Kirsi Johanna Koistinen, Nele Suurmets, and Vladislav Leiri, as well as Lithuania-based Counsel Monika Malisauskaite-Vaupsiene, Senior Associates Edita Dauksiene, Aurelija Daubaraite, Svetlana Rudaja, and Mindaugas Dominykas Baniulis, and Associate Auridas Litvinas.