COBALT advised Resource Partners in acquisition of Deeper
2021 - 06 - 28
COBALT represented the Polish private equity firm Resource Partners in the acquisition of all shares from Aurelijus Liubinas, Rolandas Sereika, the founders of smart fishing sonar manufacturer UAB Deeper, and Gemini, a financial investor. The new investors will become the majority shareholders and will be supported by Mr Donatas Malinauskas, who will continue in his role as CEO of UAB Deeper.
Deeper’s main product, which accounts for the largest share of sales, is smart fishing sonar. It is the world’s first onshore smart fishing sonar traded in more than 50 countries.
“I am very proud that we will now have the opportunity to support the management team in the further expansion of Deeper. With unique technological know-how in producing castable sonars and an efficient marketing strategy, the management team has been able to become the market leader with sales in more than 50 countries around the world. As a consumer-oriented investor, we will be focusing on countries that present the highest potential to increase the awareness of these products, such as the USA. We are also planning to leverage the brand strength of Deeper and its worldwide distribution network with the introduction of related product categories.” said Piotr Noceń, Co-Founder and Managing Partner at Resource Partners.
The work of the COBALT team included legal due diligence and advising the client throughout the transaction. The client consulting team consisted of Partner Elijus Burgis, Managing Associate Deimantė Pagirienė, Associates Kostas Grigaitis and Milda Vaznelytė.