Stena Recycling Oy signed an agreement to acquire Encore Ympäristöpalvelut Oy from Stora Enso Oyj (HLSE:STERV), UPM-Kymmene Oyj (HLSE:UPM) and others on June 30, 2022. Encore Ympäristöpalvelut Oy's subsidiaries Hämeen Kuljetuspiste and its merged subsidiary Kuljetus J. Niemeläinen and Encore Regional Services are included in the transaction. Encore Ympäristöpalvelut Oy reported a turnover of around €80 million in 2021.

The transaction is subject to the approval of the Finnish Competition and Consumer Authority and can be confirmed in early September 2022. As of October 17, 2022, the deal is approved by the Finnish Competition and Consumer Authority (FCCA). Olli Kellokumpu, Managing Director of Stena Recycling Finland, will also serve as CEO of Encore Environmental Services.

Henrik Wickström, Matti Saarimaa, Hakan Capkan, Lars Björknäs and Pia Stubb of Deloitte Corporate Finance Oy acted as financial advisors to Stora Enso Oyj (HLSE:STERV), UPM-Kymmene Oyj (HLSE:UPM) and acted as due diligence providers for Stora Enso Oyj (HLSE:STERV), UPM-Kymmene Oyj (HLSE:UPM) and Encore Ympäristöpalvelut Oy.