DLA Piper advises Touhula and its management in a management buy-out

DLA Piper has advised Touhula-päiväkodit (”Touhula”) and its management in a management buy-out whereby the company’s current management and board members acquired its share capital from the private equity investor EQT. Touhula is one of Finland’s largest private day-care providers that runs 117 day care units and employs ca. 2000 people throughout Finland. Touhula cares for ca. 10 000 children.

Touhula’s new ownership arrangement brings a new model of operation and ownership to private early childhood education. The management buy-out is planned to be followed by an employee share issue, and ca. one hundred employees will be offered the opportunity to become owners of the company. In addition to Daycare Managers, ownership will also be offered to teachers and support staff. In spring 2020, Touhula applied for corporate restructuring and the District Court approved Touhula’s reorganization program in November 2021. By the time of the transaction Touhula’s situation is stabilized. The company’s customer satisfaction is reported at a high level and the financial base strengthened during the latter part of 2021. Touhula’s goal is that private early childhood education continue to have a place in the Finnish society.

The DLA Piper team consisted of corporate partner Ilkka Liljeroos, finance partner Mikko Luukkonen, tax partner Antti Paloniemi as well as senior associates Ida-Sofia Antinluoma and Tiina Onkamo.