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AFRY Management Consulting advises consortium on acquisition of a 50% stake in Stockholm Exergi from Fortum

AFRY Management Consulting is proud to have advised the consortium of APG, PGGM, Alecta, Keva and AXA on their acquisition of a 50% stake in Stockholm Exergi from Fortum. Stockholm Exergi is  the largest district heat and cooling network in the Nordic region.

AFRY’s team of 20 colleagues, consisting of management consultants and technical experts, provided a comprehensive package of buy-side due diligence services covering commercial, technical and environmental workstreams. The team was led by our Management Consulting team with support from the Energy and Environmental divisions of AFRY. 

The international AFRY team was managed by Samuel Makkonen and supervised by Oliver Pearce and Mikael Maasalo. The team consisted of Joel Sarasti, Niklas Armila, Petteri Pihlajamäki, Elina Ojanen, Juho Kujanpää, Anna-Liina Lehtimäki, Peter Kling, Peter Dannbring, Rickard Lundborg, Sini Toivola, Anna-Liisa Koskinen, Tiia Vainikainen, Laura Savikoski, Alejandro Nocito, Martti Teider, Maxim Trishkin and Edvard Peltomaa. We are very proud and thank the whole AFRY team for their commitment and dedication during the process.

Our thanks to the consortium for choosing AFRY to support this important project, highlighting the unique value and benefits of AFRY's integrated approach to transaction advisory services, and our very best wishes for the future with Stockholm Exergi. 

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Contact for more information

Oliver Pearce

Senior Principal, AFRY Management Consulting

Mikael Maasalo

Senior Principal, Head of Digital Solutions and Operational Excellence
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AFRY Transactions and Due Diligence Services

Our expert teams provide unparalleled due diligence for asset and company transactions covering market, commercial, regulatory, operational, technical and environmental aspects of each transaction.