References

We provide independent financial advice on mergers, acquisitions, divestitures, capital raising and corporate restructuring.

Bauhub

Bauhub

Sale of Bauhub, the leading construction project management SaaS platform in Estonia, to Admicom

 

EUR 6m

Pending

MEDIHUB Group

MEDIHUB

Sale of MEDIHUB Group, a leading network of non-surgical aesthetic clinics, to REVÙ CLINIC

Undisclosed

October 2024

medDream

medDream

Sale of medDream, a world-leading independent medical imaging SaaS provider, to a portfolio company of Bregal Unternehmerkapital

Undisclosed

September 2024

Adaptive Media

Adaptive Media

Sale of 74% in Adaptive Media, a global affiliate traffic supplier to leading international e-commerce platforms

Undisclosed

July 2024

Transporent

Transporent

Acquisition of Veho Rent, an independent SIXT franchise in Finland

Undisclosed

May 2024

Warmeston

Warmeston

Acquisition of Brocēni pellet factory and cogeneration plant

EUR 32m

December 2023

Utilitas

Utilitas

Acquisition of Paide district heating business

Undisclosed

March 2024

Utiltias

Utilitas

Acquisition of Valka district heating business

Undisclosed

March 2024

Latvijas Gaze

Marguerite

Sale of 28.97% in Latvijas Gāze, the largest natural gas supplier in Latvia

Undisclosed

November 2023

VKG Elektrivõrgud

VKG Elektrivõrgud

Sale of VKG Elektrivõrgud, the largest privately held regulated electricity distribution network operator in Estonia, to BaltCap

Undisclosed

January 2024

Grigeo

Grigeo

Acquisition of Niedomice tissue paper plant by Grigeo

EUR 22m

March 2024

Operail

Operail

Sale of rental wagons and Finnish freight business of Operail, an international railway logistics company, to various strategic investors

EUR 79m

March 2023

Elektronika Serviss and Servicenet

LMT

Acquisition of Elektronika Serviss and Servicenet appliance service centers by LMT

Undisclosed

March 2023

VKG Soojus

VKG Soojus

Sale of VKG Soojus, the third largest district heating network in Estonia, to Gren

Undisclosed

November 2022

Mantinga acquires Orkla Latvia

Mantinga

Mantinga acquired Orkla Latvija's convenience business in the Baltic states

Undisclosed

September 2022

Sale of VIC klinika

VIC klinika

Vilniaus implantologijos centro klinika (VIC klinika) was sold to InMedica

Undisclosed

March 2023

Sale of Uprent to Renta

Uprent

Sale of Uprent, the leading specialized pumping company providing dewatering and bypassing solutions in the Baltics and Poland, to Renta

Undisclosed

June 2022

Acquisition of Grobina wind park in Latvia

Utilitas

Acquisition of 19.8MW Grobina wind park in Latvia

Undisclosed

March 2022

Sale of Maksekeskus

Maksekeskus

Sale of Maksekeskus, the leading online focused payment service provider in the Baltics, to Luminor

Undisclosed

June 2022

Acquisition of Primekss

Primekss

Acquisition of 48% stake in Primekss, a provider of reinforced steel solutions 

Undisclosed

September 2021

Sale of Light Conversion

Light Conversion

Sale of 25% stake in Light Conversion, the leading producer of femtosecond lasers and optical-parametric amplifiers, to 7-Industries

Undisclosed

July 2021

Sale of EKT

EKT

Sale of 75% stake in Eesti Keskkonnateenused, the leading waste management company in Estonia, to MBA Investeeringud

Undisclosed

June 2021

Sale of Santa Monica

Santa Monica Networks

Sale of 100% stake in Santa Monica Networks, the networking and IT security solutions provider in Latvia and Lithuania, to LMT

Undisclosed

October 2021

Sale of Ecoservice

Ecoservice

Sale of 100% stake in Ecoservice, the largest environmental services provider in Lithuania, to Eco Baltia

Undisclosed

August 2021

EKJU

EKJU

Management of EKJU has acquired the company from BaltCap

Undisclosed

April 2021

Acquisition of 58.8MW Tārgale wind park project in Latvia

Utilitas

Acquisition of 58.8MW Tārgale wind park project in Latvia

Undisclosed

March 2021

Sale of ABLV mortgage loan portfolio

ABLV

Sale of ABLV Bank mortgage loan portfolio to Citadele banka

EUR 170m

June 2021

Sale of Unimed

Unimed

Sale of 100% stake in Unimed Grupp, market leader in dental healthcare in Estonia, to Mehiläinen

Undisclosed

April 2021

Sale of Qvalitas

Qvalitas

Sale of 100% stake in Qvalitas Arstikeskus, market leader in occupational healthcare in Estonia, to Mehiläinen

Undisclosed

April 2021

Acquisition of Tallinna Vesi

Tallinna Veis

Acquisition of 35.3% stake in Tallinna Vesi, the largest water and wastewater utility in Estonia, from United Utilities by City of Tallinn and Utilitas

EUR 100.3m

March 2021

City Service security solutions

City Service

Sale of 5 subsidiaries of City Service SE active in the security solutions operations

 

Undisclosed

December 2020

Dautcom

Dautkom

Sale of Dautkom, the leading independent cable TV and internet service provider in Daugavpils, to Baltcom

Undisclosed

October 2020

MediCa klinika

Repharm

Acquisition of MediCa klinika, Kardiolita, Bendrosios medicinos praktika and Svalbono klinika, the largest private medical clinic chain in Lithuania, by Repharm

Undisclosed

September 2020

Elektrons S

Elektrons S

Sale of Elektrons S, a cable TV and internet service provider in Jūrmala, to Baltcom

 

Undisclosed

September 2020

Danpower Baltic

Danpower Baltic logo

Sale of 90% stake in Danpower Baltic, the largest heat producer in Lithuania, to Idex, backed by Antin Infrastructure Partners

Undisclosed

October 2019

baltcom

Baltcom logo

Sale of 100% stake in Baltcom, the leading independent cable TV and internet service provider in Latvia, to Bite Group

Undisclosed

September 2019

auto24

auto24 logo

Sale of 100% stake in auto24, the leading online automotive classifieds player, to Baltic Classifieds Group

Undisclosed

August 2019

Enefit Green

Enefit Green logo

Sale of 100% stake in 4E Biofond, the owner and the operator of Vinni and Oisu biogas CHPs, to Infortar

Undisclosed

October 2019

Replace

Replace logo

Sale of 100% stake in Replace, the leading European mobile and IT equipment repurchase solutions provider, to Xllnc Group 

Undisclosed

October 2019

Utilitas

Utilitas logo

Sale of 85% stake in Utilitas, the largest Estonian district heating utility, to First State Investments

Undisclosed

November 2018

Civinity / UAB Dizaja

Civinity logo

Acquisition of UAB Dizaja and UAB Statinių priežiūra

Undisclosed

August 2018

4energia

4energia logo

Sale of 77% stake in Nelja Energia, the leading renewable energy producer in the Baltics to Enefit Green

EUR 488m

May 2018

EUROVIA / TREV-2

TREV-2 logo

Acquisition of 75% stake in TREV-2 by Eurovia

Undisclosed

May 2018

Draudimas

Draudimas logo

Sale of a €95m portfolio of distressed loans

Undisclosed

March 2018

BaltCap / Magnetic MRO

Magnetic logo

Sale of Magnetic MRO to Guangzhou Hangxin Aviation Technology

EUR 43m

January 2018

Anaerobic Holding

Anaerobic holding

Sale of Anaerobic Holding to BaltCap Infrastructure Fund

EUR 9.45m

December 2017

Lattelecom & LMT

Lattelecom logo
LMT logo

Strategic alternatives review regarding shareholdings in Lattelecom and LMT

Undisclosed

August 2017

Providence Equity / MTG Baltic

MTG logo

Acquisition of MTG's Baltic businesses by Providence Equity Partners

EUR 115m

March 2017

Talot

Talot logo

Acquisition of AS Talot by the company's management

Undisclosed

December 2016

BaltCap / Energate

Energate logo

Sale of Energate to a group of private investors

Undisclosed

October 2016

BaltCap / Tuuleenergia

Tuulenergia logo

Sale of Tuuleenergia to Lietuvos Energija

Undisclosed

January 2016

Putoknis

Putoknis logo

Minority buyout and financing

Undisclosed

January 2016

MB benz

MB Media Benz logo

Advisor to Media Benz Telekomunikacijos on the sale to Sporting Pulse

Undisclosed

September 2015

Leta

Leta logo

Sale of LETA to UP Invest

Undisclosed

August 2015

Balticums

Balticums logo

Sale of Baltikums AAS to Vienna Insurance Group

Undisclosed

July 2015

Billerud / Latgran

Latgran logo

Sale of Latgran to Graanul Invest

EUR 104m

May 2015

Elvi

Elvi logo

Sale of Linde Partika's food retail business to VITA Markets

Undisclosed

May 2015

Northern star

Northern star logo

Sale of Limestone Timberland Fund's forest portfolio to Tornator

Undisclosed

December 2014

Civinity / Jūrmalas namsaimnieks

Civinity logo

Acquisition of Jūrmalas namsaimnieks, a Latvian facility management company

Undisclosed

October 2014

Linas Agro / Lignineko

Lignineko logo

Sale of Lignineko, a subsidiary of Linas Agro, to ECT Trading

Undisclosed

January 2014

PKL

PKL logo

Sale of PKL to Alfons Håkans

Undisclosed

December 2013

Helisota

Helisota logo

Sale of Helisota to Avia Solutions Group

Undisclosed

December 2013

Vapo

Vapo logo

Sale of VAPO Group's Latvian subsidiary AS Seda to Kalloveen Group

Undisclosed

December 2013

Leutuvas

Lietuvas logo

Acquisition of Baltic Post, a parcel terminal business, by Lietuvos Paštas

Undisclosed

October 2013

Hipoteku banka

Hipoteku banka logo

Reorganisation and sale of assets of Latvijas Hipotēku un Zemes Banka

Undisclosed

September 2013

bpt

bpt logo

Sale of BPT Secura's Estonian and Latvian real estate assets

Undisclosed

May 2013

Rigas terminalis

Terminalis logo

Sale of 100% stake in Rigas Universalais Terminals to Portek International

Undisclosed

April 2013

TD Baltic

TdBaltic logo

Advisor to TD Baltic's management is a management buy-out

Undisclosed

April 2013

Ecoservice

Ecoservice logo

Acquisition of SKT Klaipėda from Alexela Energia

Undisclosed

December 2012

Utilitas / Tallinna Küte & Eraküte

Utilitas logo

Acquisition of Tallinna Küte and Eraküte by Elekter ja Küte 

Undisclosed

November 2012

Altia / Jaunalko

Jaunalko logo

Acquisition of majority interest in Jaunalko by Altia

Undisclosed

September 2012

Veolia

Veolia logo

Sale of Veolia's waste collection operations in Estonia and Lithuania to Alexela Energia

Undisclosed

July 2012

TeliaSonera / TEO tender offer

TeliaSonera logo
TEO logo

Tender offer to minority shareholders in TEO by TeliaSonera

EUR 118m

June 2012

Trigon Agri / Väätsa Agro

Väätsa logo

Acquisition of Väätsa Agro by Trigon Dairy Farming

Undisclosed

April 2012

Televõrk

Televõrk logo

Sale of Eesti Energia's subsidiary Televõrk to Tele2

EUR 25m

February 2012

Dalkia / Tallinna Elektrijaam

Dalkia logo
Tallinna Elektrijaam logo

Sale of Dalkia International's 85% stake in Tallinna Elektrijaam to the management

EUR 90m

December 2011

Avestis 2011

Avestis 2011 logo

Acquisition of four Lithuanian waste management subsidiaries

Undisclosed

August 2011

Veju spektras

Veju spektras logo

Sale of 30MW wind park to Interrao Lietuva

Undisclosed

April 2011

Kelprojektas

Kelprojektas logo

Sale of Kelprojektas to Baltcap

Undisclosed

January 2011

Elvi

Elvi logo

Sale of Linde partika to Dyaltos Capital

Undisclosed

August 2010

SAS GROUP / Air Maintenance

SAS Group logo

Sale of SAS Group's Air Maintenance Estonia to BaltCap Private Equity

Undisclosed

January 2010

SEB / Nasdaq OMX Nordic

Nasdaq logo

Sale of SEB's holdings in Tallinn and Vilnius stock exchanges to Nasdaq OMX Nordic

Undisclosed

November 2009

Telia Sonera / Eesti Telekom

Telia Sonera logo
Eesti Telekom logo

Public offer for Eesti Telekom by TeliaSonera

EEK 5.1bn (EUR 326m)

October 2009

Telia Sonera / TEO

Telia Sonera logo
TEO logo

Acquisition of 5% stake in TEO by TeliaSonera

LTL 73m (EUR 21m)

October 2009

Alma Littera

Alma literra logo

Acquisition of Baltų Lankų knygynas

Undisclosed

June 2009

SAS Group holding in airBaltic

airBaltic logo

Sale of SAS Group's holding in airBaltic to the management

SEK 220m (EUR 26m)

January 2009

Izzi

Izzi logo

Sale of Tella Capital to Contaq Latvian Cable

Undisclosed

August 2008

Carlsberg Group / Saku Õlletehas

Saku Õlletehas logo

Acquisition of 25% stake in Saku Õlletehas by Carlsberg

Undisclosed

July 2008

Nelss Lizings

Nelss Lizings

Sale of Nelss SIA's subsidiary Nelss Lizings to Marginalen

Undisclosed

July 2008

Põlva Agro

Põlva Agro logo

Sale of Põlva Agro to Agrowill Group

Undisclosed

July 2008

Aitecs

Aitecs logo

Sale to Moog, Inc.

Undisclosed

December 2008

Kreditas

Kreditas logo

Sale of Kreditas123 fast consumer credit provider to Societe Generale

Undisclosed

May 2008

Antera

Antera logo

Sale to International Metal Service

Undisclosed

April 2008

Toode

Toode logo

Sale of 50% stake in Toode to Amber Trust

Undisclosed

December 2007

FFL

FFL logo

Sale of FFL to Premia Tallinn Cold Storage

Undisclosed

November 2007

Dt Mobile / Mosers

DT mobile logo

Acquisition of Mosers by DT Mobile

Undisclosed

October 2007

Presto

Presto logo

Sale of Presto to Sia Coffee Holding

Undisclosed

October 2007

Zetcom by LMT

LMT logo

Acquisition of Zetcom by LMT

Undisclosed

June 2007

SEB

SEB logo

Sale of SEB Group’s real estate portfolio to Homburg Invest Inc

EUR 197m

February 2007

LMT / DT Mobile

LMT logo

Acquisition of DT Mobile by LMT

Undisclosed

April 2006

Gjensidige

Gjensidige logo

Acquisition of Parekss Apdrosinasana by Gjensidige Forsikring

EUR 23m

March 2006

SEB / Balta Life

Balta logo

Acquisition of Balta Life by SEB Unibanka

Undisclosed

September 2005

Hansapank

Hansapank logo

Sale of a minority stake in Hansapank to Swedbank

Undisclosed

September 2005

Royal Unibrew

Royal Unibrew logo

Acquisition of Lacplesa Alus by Bryggerigruppen

Undisclosed

September 2005

Moteris

Moteris logo

Sale of Moteris magazine to Ekspress Grupp

Undisclosed

November 2004

Royal unibrew / Cido Partikas Grupa

Cido logo

Acquisition of Cido Partikas Grupa by Bryggerigruppen

Undisclosed

September 2004