- Business
- Lassila & Tikanoja Oyj provides environmental management, waste management and recycling services, property and plant maintenance, industrial cleaning, sewer maintenance, environmental construction and process cleaning services in Finland and Sweden. Founded in 1905 and headquartered in Helsinki, Finland, the company operates through three main divisions: Circular Economy Business offering waste collection, hazardous waste disposal, material recovery and recycling; Facility Services Finland providing property maintenance, cleaning and support services to keep properties in productive use; and Facility Services Sweden delivering sustainable facility solutions to reduce repair debt in the built environment. It serves diverse customers including industrial, commercial and public sector clients across the Nordic region, managing approximately one million metric tonnes of waste annually with a fleet of 1,200 vehicles and access to 174,000 work sites. In December 2025, Lassila & Tikanoja's Extraordinary General Meeting approved a partial demerger, transferring its circular economy operations to a new independent entity named Lassila & Tikanoja while renaming the remaining facility services company Luotea Oyj; the demerger plan, approved by the Finnish Financial Supervisory Authority in November 2025, supports focused growth in waste valorization, core business development and Swedish market expansion through acquisitions. Recent developments include the June 2025 acquisition of a pallet business, an extensive landfill expansion project adding over 16 hectares, and financing arrangements such as a EUR 35 million term loan, EUR 40 million revolving credit facility and restructuring of EUR 75 million unsecured notes to bolster long-term debt maturity.