Castren & Snellman acted as the legal advisor to Global Tungsten & Powders Corporation (GTP) in its acquisition of Tikomet Oy from Sponsor Capital and Tikomet Oy’s management. The share purchase agreement regarding the transaction was signed on 12 June 2015. The transaction is pending the approval of relevant authorities.

Tikomet is one of the leading producers of hard metal powders that apply the zinc recycling process, which is cost-effective and environmentally safe. In 2014, Tikomet Oy had a turnover of EUR 28.2 million. Today, the company has 38 employees.

GTP is one of the largest processors of tungsten raw materials in the Western world, with a history dating back to 1916. The company’s headquarters and largest production facility are located in Towanda, Pennsylvania. GTP is a division of the Austrian based Plansee Group. In the 2013/14 fiscal year, the Plansee Group realised consolidated sales of 1.2 billion euros and employed a total of 6,060 people worldwide.

Our team was headed by Partner Jan Örndahl from our M&A service. The team included Associate Karlo Siirala (M&A), Associate Mikko Hanni (Employment), Associate Ville Myllymäki (Environment, Infrastructure & Natural Resources) as well as Senior Associate Jussi Nieminen and Associate Suzanne Simon-Bellamy (EU & Competition).