Cobalt has advised AS Toode majority shareholder Amber Trust II SCA on the sale of its shares to Kingspan Group company Joris Ide NV.
According to Cobalt, Toode is a production company producing, selling, and installing steel roofs, rainwater systems, and roof accessories in Estonia, Latvia, Lithuania, and the wider European market. Last year's turnover was EUR 65 million, and the operating profit was close to EUR 7.4 million. The company's production facilities are located in Saue, Tartu, and Narva, with a subsidiary in Finland. Last year, the average number of employees of AS Toode was 195.
The Kingspan Group is a global construction solutions provider. Its shares are listed on the Euronext Dublin stock exchange. Last year, the group earned EUR 784 million in operating profit with sales revenue of EUR 8.4 billion.
The Cobalt team included Estonia-based Partner Martin Simovart and Managing Associate Jesse Kivisaari, Latvia-based Partner Guntars Zile and Senior Associate Martins Tarlaps, and Lithuania-based Managing Partner Irmantas Norkus and Managing Associate Deimante Pagiriene.
Cobalt was unable to disclose further information on the deal.
