Boreo has appointed Lassi Simola, currently Workout and Restructuring Executive at Nordea, as Chief Financial Officer and a member of the Group Management Team. He starts no later than 4 January 2027, ending an interim arrangement that has divided the finance role between two people since February.
Boreo brings back a CFO after deciding in February to manage without one
In December 2025, Boreo announced that CFO Jesse Petäjä would step down and said it had started recruiting a successor. In February 2026, it changed course and decided not to appoint a CFO for the time being. Rafael Osmanov became Head of M&A and Financing, and Vice President Finance Sami Hanerva took over financial reporting.
Once Simola starts, Hanerva will report to him in his current role. Osmanov will support the onboarding, and his contract ends by the end of March 2027.
The new CFO and the CEO both come from private equity and consulting dealmaking
Simola has more than 15 years in finance, over 10 of them in private equity, and is a CFA charterholder. Tuomas Kahri, CEO since 1 April 2026, was previously a partner at McKinsey & Company and Intera Partners. The hire is the first CFO appointment under Kahri.
“Lassi brings to Boreo strong expertise in mergers and acquisitions and corporate finance. He has extensive experience working with small and medium-sized companies and possesses an excellent understanding of the challenges and opportunities these businesses face,” says Tuomas Kahri, CEO of Boreo, in the press release.
Boreo has spent 2026 preparing its balance sheet for acquisitions
Boreo grew 2025 net sales by 14% to EUR 153.3 million and operational EBIT by 17% to EUR 8.0 million, and its board proposed no dividend to strengthen the financial position. The April 2026 AGM approved that proposal. First-half 2026 net sales rose 14% to EUR 84.6 million, operational EBIT rose 21% to EUR 4.3 million, and operating cash flow improved to EUR 3.7 million.
The portfolio is moving in both directions. In July, subsidiary Floby Nya Bilverkstad sold its vehicle painting business Lackmästar'n. On 1 October, Boreo bought technical textiles maker TEXpro for an enterprise value of EUR 1.6 million, paid from existing cash.
“With its strengthened financial position and renewed focus on acquisitions, I believe the company is well positioned to pursue its growth strategy,” says Lassi Simola.
TEXpro, with EUR 1.7 million in net sales, shows the scale of Boreo's deals so far this year. A CFO hired for his acquisition record suggests the board expects that scale to grow.
·
5 min read
Explore and follow profiles from this article to get timely updates:

Boreo has appointed Lassi Simola, currently Workout and Restructuring Executive at Nordea, as Chief Financial Officer and a member of the Group Management Team. He starts no later than 4 January 2027, ending an interim arrangement that has divided the finance role between two people since February.
Boreo brings back a CFO after deciding in February to manage without one
In December 2025, Boreo announced that CFO Jesse Petäjä would step down and said it had started recruiting a successor. In February 2026, it changed course and decided not to appoint a CFO for the time being. Rafael Osmanov became Head of M&A and Financing, and Vice President Finance Sami Hanerva took over financial reporting.
Once Simola starts, Hanerva will report to him in his current role. Osmanov will support the onboarding, and his contract ends by the end of March 2027.
The new CFO and the CEO both come from private equity and consulting dealmaking
Simola has more than 15 years in finance, over 10 of them in private equity, and is a CFA charterholder. Tuomas Kahri, CEO since 1 April 2026, was previously a partner at McKinsey & Company and Intera Partners. The hire is the first CFO appointment under Kahri.
“Lassi brings to Boreo strong expertise in mergers and acquisitions and corporate finance. He has extensive experience working with small and medium-sized companies and possesses an excellent understanding of the challenges and opportunities these businesses face,” says Tuomas Kahri, CEO of Boreo, in the press release.
Boreo has spent 2026 preparing its balance sheet for acquisitions
Boreo grew 2025 net sales by 14% to EUR 153.3 million and operational EBIT by 17% to EUR 8.0 million, and its board proposed no dividend to strengthen the financial position. The April 2026 AGM approved that proposal. First-half 2026 net sales rose 14% to EUR 84.6 million, operational EBIT rose 21% to EUR 4.3 million, and operating cash flow improved to EUR 3.7 million.
The portfolio is moving in both directions. In July, subsidiary Floby Nya Bilverkstad sold its vehicle painting business Lackmästar'n. On 1 October, Boreo bought technical textiles maker TEXpro for an enterprise value of EUR 1.6 million, paid from existing cash.
“With its strengthened financial position and renewed focus on acquisitions, I believe the company is well positioned to pursue its growth strategy,” says Lassi Simola.
TEXpro, with EUR 1.7 million in net sales, shows the scale of Boreo's deals so far this year. A CFO hired for his acquisition record suggests the board expects that scale to grow.
Follow moves like this on the Listeds Executive Intelligence Platform.

Investor Event
Listeds Investor Event · Defence
Nordic defence is in a once-in-a-generation growth cycle. Eight listed and pre-IPO companies pitch to 100+ invited investors at Valkoinen Sali, Helsinki
21 September 2026












