Category: News

2016

On December 2015 Gategroup reached an agreement to acquire 100% ownership in Inflight Service Group from funds advised by Triton, a private equity company in the Nordic region, at an enterprise value of SEK 1.1 billion. The transaction is subject to the approval of the Polish antitrust authorities, with closing expected in February 2016.

Founded in 1991, Inflight Service is the leading operator in the Nordic travel retail market, with strong presence in Eastern Europe and emerging presence in other European markets. Inflight Service is headquartered in Kista, Sweden. The company is a leading travel retail specialist with revenues in excess of SEK 2 billion primarily focused on airline retailing, ferry retailing and the operation of airport shops alongside a small presence in wholesale and retail services.

Gategroup is the leading independent global provider of products, services and solutions related to a passenger’s on-board experience.
Gategroup was advised by TARK in co-operation with Swedish law firm Mannheimer Swartling.

2016

TARK has successfully represented payment institution GFC Good Finance Company AS before the Estonian Financial Supervision Authority in the proceedings for application of the cross-border payment services provision in Republic of Poland. As from 29 February 2016, GFC Good Finance Company AS can render payment services including issuance the payment cards in the territory of Poland.

2014

TARK advised BOLE OÜ in a sale of a share to new investor. BOLE OÜ, based on Estonian capital, is rapidly growing company headquartered in Paldiski, Estonia. BOLE OÜ manufactures naturally curved hardwood floors.
TARK assisted BOLE OÜ with structuring the transaction and with the preparation of the transaction documents.

2015

TARK has advised world’s largest manufacturer and distributor of sewing thread and supplies Coats plc on the sale of the EMEA Crafts business to AURELIUS Group.
The Coats EMEA Crafts business is the leading supplier of textile craft products in Europe, with a history going back 250 years. The acquisition covered all Coats plc crafts business in EMEA and included Estonia, Latvia and Lithuania. With about 900 employees, the business generated revenues of EUR 100 million in 18 European countries in 2014.

AURELIUS Group is a mid-market pan-European investor focused on value creation through operational improvement. Employing more than 70 professionals, it has offices in Munich, London, Stockholm and Madrid, with portfolio companies operating throughout Europe. AURELIUS has particularly strong capabilities in the Industrials, Chemicals, Business Services, TMT and Consumer sectors and targets Pan-European private and public companies with revenues from EUR 40 million to EUR 1 billion.

TARK advised client on all legal matters to implement the transaction in the Baltic countries, including structuring of the local transfer and its implementation. The Firm advised on localizing the master transfer agreement governed by the UK law for Estonia, Latvia, and Lithuania.

2014

TARK advised Schöttli Keskkonnatehnika AS on a management buyout transaction in which Christina Jörg sold and the current management of the company bought 100% of the shares in Schöttli Keskkonnatehnika AS. Schöttli Keskkonnatehnika AS is a leading company in Estonia engaged in the design, selling, assembling and maintenance of drinking and waste water treatment technologies.

2015

TARK advised Fuchs Petrolub SE on the Estonian, Latvian and Lithuanian law aspects of acquisition of Statoil Fuel & Retail Lubricants business. The transaction was signed in August and closed in October 2015. Fuchs Petrolub is the world’s leading independent supplier of lubricants headquartered in Germany (www.fuchs-oil.com). In the financial year 2014/2015, Statoil Fuel & Retail Lubricants business generated sales revenues of approximately EUR 140 million.

With this acquisition, the Fuchs Group is strengthening its presence in Scandinavia, expanding its market position in Poland and Russia and will now be present in the Baltic States.

TARK’s team carried out the due diligence review of the target’s Baltic operations and advised on the Baltic aspects of the transaction.

2014

TARK advised on the sale of the office building of Flora in Tallinn at Tulika street. This building has a long and distinguished history; it has accommodated a great number of successful small and medium-sized businesses. The gross leasable area of the building is 4,400 square metres, and the new owners are Lumi Capital and Estonian private investors. The parties have agreed not to disclose the cost of the deal. AS Flora will continue the management of Flora Kaubanduse and other properties owned by Flora.

2015

27.10.2015 the resolution of Financial Supervision Authority of Estonia came into force, which grants GFC Good Finance Company AS an activity license for provision of additional payment services. GFC Good Finance Company AS, a payment institution under the Payment Services Directive No. 64/2007, has an activity license for provision of number of payment services relating to payment accounts and payment transactions. Referred resolution enables GFC Good Finance Company AS to issue also a payment cards and payment instruments.

2014

Citycar OÜ sold its 38.5% share in Jazz Pesulad. Jazz Pesulad is a car wash chain that is based on Estonian capital and offers various vehicle cleaning services. Jazz Pesulad was founded in 2003 with an innovative and modern concept of car washing services.
Citycar OÜ, founded in 2003, focuses on car dealership market and has its main cooperation partners in South-Germany.