Category: News

2015

Yesterday, on 29 June, the owners of Eesti Telekom, one of the largest telecommunication companies in the Baltics, signed a contract for the purchase of the rapidly developing IT company Green IT. The transaction will be closed after receiving clearance from the Estonian Competition Authority. After closing, Green IT will continue its activities as separate company under the current trademark.

“Eesti Telekom has been a great competitor of Green IT for years. As the IT market is becoming more and more service focused, it is important to keep investing in the development of services and to increase the volume of business. The consolidation on the market is only natural in this situation,” the managing director of Green IT, Margo Luberg, commented on the deal.

Green IT, established in 2006, is a rapidly growing IT company based on Estonian capital with the Baltic States as their home market. As of the end of 2014, they managed more than 60,000 IT devices with a total value of over 10 million euros. Green IT has a total of 150 customers from both the private and public sector.

2014

In April this year, Estonian investors bought AS Fenestra, the Estonian subsidiary of the Finnish Fenestra group. The company will continue window production, sale and service under the Fenestra trade mark.
Mr Rein Pruuli, who will continue as the chairman of the board of Fenestra, comments on the company’s future perspectives as follows: “It is good that the business of AS Fenestra will continue as usual. We have well-established production technology, a valued high-quality trade mark and skilled people. We will continue producing and selling windows as well as providing related services in Estonia.

Swedbank’s head of construction materials sector, Mr Mats Toots, is optimistic about the situation: “Estonian window and door producers will have the chance to take advantage of this situation and to increase their market share. I am very glad that the managers of Fenestra were able to keep the company with a staff of over 70 running in those difficult months. Moreover, they had enough faith in the company to buy it from its former owners along with the well-known trade mark. The Estonian industry will certainly benefit from this deal.“
There are 75 employees working at the Tallinn factory of Fenestra, and the turnover of the company was 8 million euros in 2013.

2015

We advised two clients – Flora Ehitus OÜ and Kemiflora OÜ – on the whole process of the sale of six developed business immovables to a local retailer. Our legal advice consisted in assisting the clients in all the stages of the deal from due diligence, preparing documents and conducting negotiations to closing and resolving practical issues related to closing.

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.