IONCOR Plc completes financing solution that includes securing a new ownership structure and raising new capital

Aventum advised IONCOR Plc (“IONCOR”) in the financing solution that includes securing a new ownership structure and raising new capital after the sale of all shares in IONCOR by Valmet Automotive Plc (“Valmet Automotive”).  

IONCOR is a leading independent supplier of battery systems for electric vehicles in Europe. Moreover, IONCOR drives the transition to electric mobility in bus, truck and off-highway segments by offering high-density modular battery systems. The company employs around 1,000 professionals in Finland and Germany, with production facilities in Salo and Uusikaupunki (Finland) and Kirchardt (Germany).  IONCOR’s gross sales amounted to EUR 1.5 billion in 2024.  

The new ownership structure and the financing raised by IONCOR enable the company to advance the development and commercialization of its proprietary modular battery systems for heavy-duty transport, commercial vehicles, and mobile machinery. After the transaction, Finnish Minerals Group (FMG) will hold 70%, Varma Mutual Pension Insurance Company 16%, and Pontos Group 14% of IONCOR.