Suomen Autokauppa Oy (“Saka”), a leading Finnish used car retailer has announced equity investments from Mutual Pension Company Ilmarinen (“Ilmarinen”) and Mutual Pension Company Elo (“Elo”). MCF acted as financial adviser to Saka and its owners throughout the entire process, building on its expertise in the consumer sector and utilising its contact network of investors and other financing providers.
MCF advises Suomen Autokauppa on equity investments from Ilmarinen and Elo
“We are extremely delighted that Ilmarinen and Elo will join our growth journey. Our objective is to continue growing profitably and disrupting the Finnish used car market.”
CEO and co-founder of Saka
The transaction enables Saka to strengthen its ownership base and to professionalise its governance, as well as create an excellent basis for the company’s continued growth in both Finland and abroad. The current management team of Saka will remain as majority shareholders.
Saka is a leading Finnish second-hand retail chain focusing on passenger cars. In addition to selling cars, the company offers a comprehensive selection of integrated services, such as financing, insurance, and liability extensions. Saka is headquartered in Oulu, with nationwide operations through 21 stores as well as modern online channels.
Eero Poukkula, CEO and co-founder of Saka, said: “We are extremely delighted that Ilmarinen and Elo will join our growth journey. Our objective is to continue growing profitably and disrupting the Finnish used car market.”
About Ilmarinen Mutual Pension Insurance Company
Ilmarinen is a Finnish mutual pension insurance company. Ilmarinen’s assets under management comprise approx. EUR 50bn of funds which are allocated across various asset classes.
About Elo Mutual Pension Insurance Company
Elo is a Finnish mutual pension insurance company, responsible for the payment of pensions for approx. 240,000 pensioners and the management of EUR 26bn in investment assets.