76 LAWYER MONTHLY MAY 2023 Our expertise supported the smooth progress of the acquisition, and we were able to offer our client comprehensive support throughout the entire process. their family businesses, which have a long history. In order to find good solutions for all the parties in the negotiations, it was important to understand the companies’ background, history and the deeper motives of both parties. In international trade, two different cultures always meet. On a practical level this can be seen, for example, in legislation-related issues and different cultures of decision-making. In order for the acquisition to be successful, it was important that Lexia was able to act between the parties as an interpreter between two cultures. We also operate locally in Northern Finland, and therefore we have particularly good knowledge of the region’s market, local actors and culture. In the past, we have also acted as an advisor to other wood processing companies, so our good knowledge of the industry and strong regional knowledge provided a solid foundation for this acquisition as well. How did you overcome the challenges that this transaction presented? The main challenges were related to understanding different cultures, and it was there that our experience helped to move the process forward to a successful outcome for all the parties. In the negotiations, we helped the parties to bring into the open what was important to each party. It is essential to understand why something is important to one of the parties, because not everything is always said out loud in negotiations and there can be a lot of things in the background that the parties are unable to put into words. Problems, disagreements and challenges cannot be avoided in negotiations. We were led forward from these by a solution-oriented approach and a genuine desire to find an end result that satisfied everyone. Throughout the entire process, there were also regular discussions about the details and challenges that had to be able to offer our client comprehensive support throughout the entire process. Negotiations require a solution-oriented approach, and with our experience we were able to guide the process as a whole and find solutions that satisfied all the parties involved. What key steps and potential complications had to be taken into account while advising on the merger of these two wood processing companies across international boundaries? Both parties to the transaction were family-owned companies, which affects the companies’ decision-making culture and processes. The owners of the companies are close to decision-making, and both parties have a responsibility for Please tell us more about the acquisition and your team’s role in advising Pfeifer. Lexia acted as Pfeifer’s comprehensive partner in the arrangements for the acquisition and practically managed the entire team of advisers. Large-scale transactions always involve many areas that require specific expertise, and a successful transaction and smooth project require legal services as well as advising in economic and tax-related matters. For Lexia’s client Pfeifer, all the necessary support was handled through just one contact, as Lexia managed the whole. In the background, several trusted partners worked as subcontractors, such as Hill Audit as financial adviser and Alder & Sound as legal adviser on tax matters. Lexia’s task was to lead the entire advisory team, report to the head of Pfeifer’s M&A (mergers and acquisitions) department and comprehensively take care of the smooth progression of the project. We participated extensively in the process in its various stages, and we were also involved in the commercial negotiations with the buyer’s representative. Therefore, throughout the negotiations and the entire business restructuring process, Pfeifer had a very comprehensive partner in Lexia. What professional skills and experience were you able to bring to the proceedings? We have more than 20 years of very strong experience in law related to mergers and acquisitions as well as experience in completing large-scale acquisitions. The experience has also given us an ability to move negotiations forward with a solution-oriented approach and, if necessary, lead even a large group of advisors. Our expertise supported the smooth progress of the acquisition, and we were
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