COBALT counselled the acquisition of Betonimestarit-Group by AS TMB, a major manufacturer of pre-cast reinforced concrete elements. This is the largest merger and acquisition transaction of an Estonian company in the Finnish market since the one involving Tallink and Silja Line.
Betonimestarit is one of the largest manufacturers of concrete elements in Finland and has been operating in the market for almost 30 years. As a result of this transaction, AS TMB doubled its turnover, which now amounts to almost 100 million euros. The new group has a total of some 500 employees in Estonia, Latvia, Finland and Sweden. The parties have agreed not to disclose the value of the transaction.
Our work comprised advising the client at all stages of the transaction, including financing and development of the new group structure.
The COBALT team included Partners Martin Simovart and Marina Tolmatshova with Specialist Counsel Jesse Kivisaari, Senior Associate Kristjan Kotkas and Associate Mattias Tammeaid. As to tax aspects, the client was counselled by Partner Egon Talur and Associate Tõnu Kolts, while company law issues were covered by Partner Pirkko-Liis Harkmaa, and competition law issues were tackled by Partner Elo Tamm.