Ferronordic Machines acquires Volvo Construction Equipment’s Russian sales and distribution organization
Ferronordic Machines has acquired Volvo Construction Equipment’s (Volvo CE) Russian sales and distribution organization and been appointed exclusive distributor of Volvo CE products in Russia. In connection with the acquisition, Ferronordic Machines has raised EUR 37.5 million through a private placement of securities from Swedish and international institutional investors and made commitments to invest approximately EUR 100 million in the Russian dealership network for Volvo CE products.
Ferronordic Machines was advised by Mannheimer Swartling. The firm’s team was led Henrik Carlborg, primarily assisted by Vera Gorbacheva, Nadezhda Ilyushina and Alexander Potapov with regard to Russian legal issues, and Åsa Hansdotter and Marcus Glimberg with regard to Swedish legal issues. Sven Lexner was the partner in charge.