Avance advises MB Funds in the sale of the Pinja to private equity owner Norvestor. Pinja sells software solutions and software development services that it has developed for manufacturing industry, forest industry, and bioenergy and circular economy companies, as well as to trade, service, and public sector customers. Pinja employs approximately 450 software professionals in five locations in Finland, and the revenue of the company is over 40 million euros this year.
The transaction is subject to customary closing and regulatory approval, and the target is to complete the acquisition as soon as possible.