MBO Partners acted as an advisor in financing a major export project
MBO Partners acted as advisor in a financing project in which the traditional Finnish enamel manufacturer Finemal Oy applied for an export guarantee for the largest order in its history.
Finemal Oy is part of the Happy Growth Group, which includes Finemal Oy, its parent company Happy Growth Oy, and Finemal’s sister company Temal Oy. The group’s roots go back a hundred years to the 1920s, when Kone ja Siltarakennus Oy established an enamel factory in Sörnäinen, Helsinki. The enamel company came under the ownership of the current owner family, the Zischka family, in 1994, at which point it was renamed Temal.
MBO Partners has been working with Temal for several years, and along the way, a group structure was created for the owner family. Enameling was incorporated under Finemal Oy, and the sale of bathroom furniture under Temal Oy. Today, the family business is already owned by the third generation.
In November 2025, Finemal confirmed the largest single order in its history when Swedish public toilet manufacturer Danfo AB won the City of Stockholm’s project to renew public toilets and chose Finemal as its material supplier. The selected facade material was enameled steel, recognized as a stylish, timeless, and highly durable material resistant to dents, dirt, and the passage of time. Finemal will supply Danfo with enameled steel panels for more than 60 public toilets in the Stockholm area.
The stagnation in the construction industry and housing market has financially challenged the Happy Growth Group very severely in recent years. For this reason, export credit played a significant role in the project, ensuring the success of this historic undertaking. MBO Partners acted as Finemal’s advisor in securing guarantee financing, which involved the group’s bank and Finnvera.
Article about the historic project in Kauppalehti (in Finnish):
https://www.kauppalehti.fi/uutiset/a/ce2336a7-e225-4f85-8e6b-f78535c687c1
