Cobalt has advised AS TMB, a major manufacturer of pre-cast reinforced concrete elements, on its acquisition of the Betonimestarit-Group from its shareholders. The value of the transaction was not disclosed.
Cobalt reports that "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 Cobalt team included Partners Martin Simovart and Marina Tolmatshova with Specialist Counsel Jesse Kivisaari, Senior Associate Kristjan Kotkas and Associate Mattias Tammeaid. AS TMB was counseled on tax aspects by Partner Egon Talur and Associate Tonu Kolts, while company law issues were covered by Partner Pirkko-Liis Harkmaa, and competition law issues were tackled by Partner Elo Tamm.
Cobalt informed CEE Legal Matters that it was unaware of the identity of counsel for the sellers.