2015
TARK advised ACTA, the holding company of Kiwa and Shield Group International, on the acquisition of Inspecta in Estonia, Latvia and Lithuania. Inspecta is the leading Nordic player in the testing, inspection and certification (TIC) industry with operations in 8 countries.
2014
E24 business portal published recently a list of the key company purchase transactions in Estonia in 2013. Half of the six key transactions were advised on by TARK. Among others, TARK advised on the sale of shares in Starman to East Capital, which is the most important deal of the year both in terms of the value of the transaction and its international scope.
TARK also acted as advisor on the sale of Bauhof and My Fitness by Askembla Growth Fund to Estonian investors and on the sale of Sportland to Sports Direct. All transactions were among the six key transactions in Estonia in 2013.
2015
TARK advised AS Sarkop, an Estonian producer of high-quality furniture, in a production facilities sale-leaseback transaction and in implementing new financing solutions. AS Sarkop is one of the largest custom furniture producers fully based on Estonian capital. It produces top quality furniture for offices, restaurants, hotels and ships. AS Sarkop was advised by TARK partner Risto Vahimets and senior associate Allar Aru.
2014
Recently, TARK competition team advised MTG, an international entertainment broadcasting group, in all competition / regulatory aspects of its bid to buy a majority stake in Starman, the largest supplier of Pay-Tv (cable and DTH platforms) and 2nd largest provider of broadband internet in Estonia.
The regulatory assessment was a crucial part of the bid, because MTG is already active in the
Estonian Pay-Tv market (via its satellite Viasat platform) and also in the upstream markets of wholesale supply of commercial-FTA (TV3) and premium TV channels (TV1000) to other Pay-Tv operators (including Starman, Elion, STV). Thus: adding Starman to MTG’s existing Estonian business raised a number of potential competition issues, which needed to be identified, quantified and addressed.
As part of the regulatory assessment we: (a) identified alternative market definitions and the likelihood of each of those market definitions being adopted by Estonian Competition Authority; (b) identified, and quantified, potential competition issues (both horizontal and vertical) and identified and quantified potential solutions for each issue; and then (b) developed Base Case and Negative Case scenarios with competition issues and potential solutions with business case impact and probability attached to both, i.e. developed a Road Map of the prospective merger review process.
2015
On 13 April, OÜ Selteret (Estonia) announced having signed a contract for acquiring a 100% stake in AS Schetelig EV (Estonia). The Latvian and Lithuanian subsidiaries of AS Schetelig EV are also parties to the transaction. The deal will be closed in May 2015; the parties have agreed not to disclose the value of the transaction.
“The acquisition of AS Schetelig EV group marks the most significant step in our history – by this deal we will strengthen our position in Estonia and enter the Latvian and Lithuanian markets. We believe that the transaction will create powerful synergies which allow us to offer added value to our customers, suppliers and partners.” Karol Kõrm, the managing director of OÜ Selteret, commented.
AS Schetelig EV is part of the Schetelig Group selling garden products and supplies for both professional and home use in Finland, the Baltics, Slovakia, Hungary, the Check Republic, Russia, Ukraine and Kazakhstan. OÜ Selteret is a family business that has been present on the Estonian market since 1995.
2014
TARK advised Enterprise Investors, one of the largest private equity and venture capital firms in Central and Eastern Europe, on acquisition of 32.4% stake in Tahe Outdoors.
The Firm assisted the investor with the due diligence review of Tahe group, structuring the transaction as well as preparation and negotiating the transaction documents.
The transaction was fascinating both because it was the second investment in Estonia by this CEE private equity giant, and because of the very specific industry of the target – one of the Europe’s largest producers of kayaking equipment, headquartered in Estonia.
Tahe Outdoors is the leading European manufacturer and distributor of high quality watersports equipment, headquartered in Estonia. The company operates two factories in Estonia and one in France, and its sales network covers over 35 countries.
2015
TARK has earned the highest ranking in the Baltics in the most recent independent Law Firm Review conducted by international market research company TNS SIFO Prospera. The survey comprised an evaluation of law firms by 265 business organizations from Estonia, Latvia and Lithuania with the highest volume of annual purchases of legal services.
TARK had the highest score in overall performance in the Baltic countries combined and individually in Estonia and Lithuania and ranked No 1. In Latvia TARK GRUNTE SUTKIENE had the second highest score in overall performance and ranked No 2. The survey was made by interviewing clients in each Baltic country about the performance of all top tier law firms plus a number of other law firms.
„We are grateful that our clients take the time to provide their feedback in this and other surveys. For us to be able to contribute effectively to our clients’ business, it is important that our services and approach are based on a good understanding of their needs,“ – said Ivars Grunte, chairman of the Pan-Baltic Board of TARK GRUNTE SUTKIENE and Managing Partner of the Latvian office.
TNS SIFO Prospera carry out the most comprehensive client surveys for law firms in the Nordic and Baltic countries. These surveys have been made for the Nordic countries for many years and are considered as the most serious researches into client satisfaction regarding law firms. In March – April 2015 this survey was made for the first time in the Baltic countries. Participating in this annual survey are executives and corporate lawyers, CEOs, CFOs and transactional and business development managers at companies based in the Baltic States.
TARK GRUNTE SUTKIENE ranked as the overall leader and number 1 on the majority of the client evaluation criteria. According to the respondents, TARK GRUNTE SUTKIENE is particularly strong on the following performances: Quality across the Baltic region, Lawyer´s skills, being Business minded, Project staffing, Personal contacts, International competence, Competitive fees and Integrity & ethics. They say that TARK GRUNTE SUTKIENE is strong on: Large projects, Advisory, Client understanding, being a Strategic speaking partner, Availability and Service and Project management
„We are very glad and honoured by the high score and appreciation that the clients have awarded us with. In particular we are pleased to note that we have scored high on the buying criterions which we consider to be the cornerstones of our law firm´s culture,“ – comments Magnus Pousette, TARK GRUNTE SUTKIENE’s Baltic Managing Partner.
„These results are in line with our firm’s mission and vision. Our aim has always been to create value for our clients by helping them to succeed in their commercial ambitions rather than just advising them on purely legal matters. In our vision, we undertake to be No 1 in the market of legal services according to client satisfaction. It is obvious we have an even greater challenge – to justify the high expectations of our clients,“ – said Mrs. Eugenija Sutkienė, Managing Partner of TARK GRUNTE SUTKIENE´s Lithuanian office.
“This is a great demonstration of trust from our clients, and we feel really proud and humble acting as their trusted advisors. At the same time, it is also a signal that we are doing things right and encourages us to continue on the same path and further improve our services,” – said Aare Tark, Managing Partner of TARK GRUNTE SUTKIENE´s Estonian office.
It is not the only international acknowledgement of TARK GRUNTE SUTKIENE recently. One of the most influential European law publications “The Lawyer” awarded the title “The law firm of the year: The Baltics 2015” to TARK GRUNTE SUTKIENE. The Firm was also shortlisted for the “Best European Law Firm”, being the first Baltic law firm ever to receive such a shortlisting.
2014
TARK advised Bank of Tokyo-Mitsubishi UFJ (Polska) S.A. on provision of cross border services in the Baltics.
2015
TARK advised Mezzanine Management, an independent investment advisory firm, with a focus on Central and Eastern Europe, on the EUR 23.3 million investments to support the growth of Mogo Finance (Mogo), a non-bank car financing provider operating in the Baltics and Georgia.
The deal was funded through Accession Mezzanine Capital III, Mezzanine Management’s third investment vehicle. The fund is backed by reputable institutional investors, including European Bank for Reconstruction and Development and European Investment Fund.
The funds in this deal are earmarked for developing Mogo’s operations in other countries within the Central and Eastern European region. Mogo is currently the market leader in the Baltics, with a loan portfolio in excess of EUR 38 million comprising 20 000 cars and employing more than 200 people.
The firm presently has operations in Latvia, Lithuania, Estonia and Georgia and plans to work with Mezzanine Management to expand the group into other countries.
TARK provided legal services throughout the process, drafted all necessary transaction documentation, and advised on regulatory issues.
Mezzanine Management is an exclusive advisor to the Accession Mezzanine Capital group of funds, whose total commitments exceeded half a billion euros. The company has been operating in Central and Eastern Europe since 2001 through its offices in Vienna, Warsaw, Bucharest, Budapest and Kiev.