Aventum advised the owner-managers of Ermail Oy (“Ermail”) in the recapitalization of the company and expansion of the ownership base

Aventum advised owners of Ermail in the recapitalization and expansion of the ownership base

Aventum advised the owner-managers of Ermail Oy (“Ermail”) in the recapitalization of the company and expansion of the ownership base to incentive key employees and support the owner-managers in the development of the business going forward.

Ermail is a leading surface treatment company in Finland established in 1989 and with significant operations in the globally significant Finnish maritime cluster of approximately 14 bnEUR. Ermail provides a comprehensive portfolio of surface treatment services and can execute the most demanding projects for its clients. The client base includes the largest shipyards in Finland as well as companies from ancillary industries. Ermail also offers surface treatment services to clients in the mechanical engineering and construction sectors. The business employs approximately 50 people permanently as well as a significant number variably throughout the year.

Business of Ermail has grown substantially in recent years and sales for financial year ending on May 2020 are estimated at 18 MEUR generating an EBITDA of approximately 2 MEUR. In the transaction Ermail was recapitalized to reflect the current size and performance of the business. While the current owner-managers continue to own the majority, a group of new investors consisting of key employees and one external investor became minority shareholders in the company.

Aventum successfully coordinated the process and provided advice to the owner-managers as well as the new investors during the process.