People shaking hands in an office environment

Announcing AFRY Capital

Pöyry Capital has now been renamed AFRY Capital following a record 2021 in which it advised on 11 completed M&A transactions in paper, packaging, industrials and energy & infrastructure.

AFRY Capital provides independent sector-focused advice to companies and financial institutions around the world. Its sector focus reflects the world-leading expertise of AFRY, notably in Bioindustry, Packaging, Energy & Infrastructure and Industrials. Since its creation in 1999 AFRY Capital has advised on over 80 completed M&A transactions with an aggregate value of nearly €12 billion.

Based in London, and authorised by the UK Financial Conduct Authority, AFRY Capital is a team of investment bankers from 14 countries. Its main activity is advising on the sale and acquisition of companies, businesses and assets in our sectors of focus. Clients choose AFRY Capital because of its experience in managing the M&A process from start to finish, its sector expertise and the quality of its strategic and tactical advice.

In the past 12 months clients have included:

  • UPM on the sale of its newsprint mill in Shotton, North Wales to Eren Holdings of Turkey
  • The International Woodland Company (Denmark) on the sale of teak plantations in Panama
  • BeonTag of Brazil on its acquisition of Scandstick, a leading manufacturer of self-adhesive labels in Sweden
  • The owner of Multi-Wing (Denmark), a heating, ventilation, cooling and refrigeration business, on its sale to Altor, a leading Swedish PE firm
  • Bain Capital on its successful tender offer for Ahlstrom-Munksjö (Finland/Sweden)
  • Vantage Infrastructure on its acquisition of Agronergy, a renewable heat business in France
  • Powerstar, a UK-based provider of power resiliency, microgrids, and energy efficiency equipment, on its capital raise

Tom Blake, Managing Partner of AFRY Capital said:

Although this is an important milestone for us, this is a natural step - many of our clients have already been calling us AFRY Capital for a while. Our business model and client focus has not changed. As part of the AFRY Group, we are uniquely positioned among M&A advisers in our ability to leverage the industry expertise of thousands of consulting and engineering colleagues around the world.

To find out more about AFRY Capital please visit

Tom Blake - Managing Partner, AFRY Capital

Tom Blake

Managing Partner, AFRY Capital

Contact Tom Blake

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