` Ott Aava | COBALT

Ott Aava

Managing Associate / Estonia


Ott Aava is a Managing Associate in COBALT specializing in mergers and acquisitions (M&A).

Ott has extensive experience in Estonian and cross-border mergers and acquisitions, advising private equity transactions and investors and companies in fundraising. In addition, Ott has focused on advising start-ups and technology companies. Ott has extensive experience in corporate law matters and shareholder relations.

Ott regularly advises on important purchase and sale transactions and investments in companies, including the sale of shares and assets, financial and strategic investments, and restructuring. Ott has led several long-term projects and complex international transactions involving teams from different jurisdictions. His work has led several projects to a successful closing


  • The Legal 500, Commercial, Corporate, and M&A, Rising Star – 2020 / 2021 / 2022 / 2023 / 2024
  • The Legal 500, Commercial, Corporate, and M&A, Next Generation Lawyer – 2019
  • IFLR1000, M&A, Notable Practitioner – 2019


  • Estonian, English

Membership & education

  • Estonian Bar Association (2011)
  • Master of Arts in Law (M.A.), University of Tartu, Faculty of Law, Estonia (2011)
  • Erasmus exchange student, University of Helsinki, Finland (2009)

Citi Ventures makes a strategic investment in Modular Technologies OÜ (TUUM)

Modular Technologies OÜ (TUUM) raises 25 million euros in series B financing

Via3L Spedition OÜ won in court against firm’s former managers

The shareholder of Adfactory Group sells part of the shares to Marahrens

COBALT advised BaltCap Private Equity Fund III on acquiring a minority stake at Eesti Digiraamatute Keskus OÜ

COBALT advised Helmes AS on acquiring TeleSoftas UAB

COBALT advised Lightrock on investment in start-up Katana Manufacturing ERP

COBALT advised BaltCap on acquiring Rahva Raamat

COBALT advised NiftyCraft on raising investment

COBALT advised clients on investing in a new technology fund

COBALT advised startup Modular Technologies on raising 1 million euro additional investment

COBALT advised Modular Technologies on raising 15 million euro additional investment

COBALT advised Royal Unibrew on the acquisition of Tanker Brewery

COBALT advised Workland on acquisition of UMA

COBALT advised Elektrum Eesti on the acquisition of three energy companies

COBALT advised Elektrum Eesti on acquiring the Imatra Elekter electricity retail sales business

COBALT advised the sale of Icefire to Checkout.com

COBALT advised Modularbank on raising €4 million funding

COBALT advised the selling of MCF Group Estonia OÜ

COBALT advised AS Helmes on acquiring the shares of T2T

COBALT advised Fortumo on selling its business to Boku

COBALT advised BPM Mezzanine Fund on financing

COBALT advised BP plc on a deal

COBALT advised funds advised by Apax Partners on acquiring the Baltic Classifieds Group

COBALT advises AS RAGN-SELLS on OSA project

COBALT advises BaltCap on selling Fitek

COBALT advised NEXTCLINICS on acquiring F-Est OÜ

COBALT advised Vink Nordic Holding ApS on acquiring Proplastik

COBALT advises MCF Group Estonia on developing a data centre in Estonia

COBALT advised AKA Investment OÜ on acquiring AS Wris

COBALT advised Alexela Oil on the acquisition of 220 Energia

COBALT advised DiDi Chuxing in relation with an investment round of Taxify

COBALT advised Ambient Sound Investment on sale of Ecofleet Holding

COBALT advised Live Nation Finland Oy on acquiring 49% of OÜ Live Nation Baltics

COBALT advised DNB on the creation of Luminor – largest ever transaction in the Baltic banking market

COBALT advised Didi Chuxing on investment in Estonian-based transport app Taxify

COBALT advises Santa Monica Networks on sale of its Finnish-Baltic subsidiaries

COBALT advises BaltCap in acquiring of Selecta business operations in the Baltics

COBALT advised the software company Reach-U (former name Regio) on division

COBALT advises BaltCap in acquiring Baltic operations of financial automation company OpusCapita

COBALT counseled Nelja Energia, the largest producer of renewable energy in the Baltics, in issue of bonds in the amount of 50 million euros

COBALT counselled Nelja Energia in relation to increase of holding by majority shareholder Vardar Eurus by 17%

COBALT advised the sale of IT company Proekspert

COBALT counselled the management of Alexela Group upon acquisition of entire business and upon negotiations with banks regarding syndicated loan

COBALT advised Rubylight as shareholder of popular Q&A service Ask.fm

COBALT advised the sale of BNS

COBALT advised Sports Direct International on purchase transaction

COBALT advises SKT Keskkonnateenuste OÜ on acquisition of Veolia Waste handling business in Estonia and Lithuania

COBALT advise Net Group on sale of IT infrastructure company NG Infra to leading Nordic and Baltic IT infrastructure company ATEA

COBALT advised Estonia´s largest wind farm companies Freenergy, Vardar Eurus and Nelja Energia in the merger under the single name of Nelja Energia

COBALT advises Alexela Energia

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IFLR 1000 2023