DLA Piper advises Raksystems on its expansion to Sweden

31 MAY 2019

DLA Piper has advised Raksystems, Finlands largest building condition assessment services provider, on its acquisition of Swedish consulting firm Dry-IT, a specialist in humidity management, energy and the environment.

Dry-IT has an extensive customer base in the construction and property industries. Due to their strong market position, the companies together will offer the Raksystems Group an excellent opportunity to expand and grow both in Finland and in Sweden. The Group now employs 300 people.
Backed-up by MB Funds, the Finnish private equity investor, which recently became the company’s majority shareholder, Raksystems made a strategic decision at the end of 2018 to start preparations aiming at internationalization. Raksystems had been screening companies of the industry in Sweden for a long time, which created a good basis for a potential acquisition.

Dry-IT is Sweden’s leading expert company specializing in humidity management during construction and renovations. The company has twenty years of experience from cooperation with large developers while it is also known in Sweden as a promoter of energy efficient construction and administration, as well as a provider of environmental certificates for large properties. 

In the future, Swedish customers will become a growth area for Raksystems Group alongside the Finnish market. The companies will be developed to make Raksystems Group a unified Nordic group of companies. The parent company will remain in Finland, and the Swedish management – supported by the Group management and support functions – will be responsible for the operations of Dry-IT in Sweden.

DLA Piper’s pan-Nordic team was led by corporate partner Ilkka Liljeroos (Helsinki) and included, among others, corporate partner Mathias Berggren (Stockholm), corporate associates Antti Eeva and Ida-Sofia Antinluoma, finance counsel Mikko Luukkonen, tax counsel Jaakko Klemettilä (all based in Helsinki) as well as corporate senior associate Jesper Lindbom, corporate associate Frida Almlöf, finance associate Tim Hagberg and tax partner Erik Björkeson (all based in Stockholm).