06
Fri, Jun
86 New Articles

Cobalt Advises Combiwood on Acquisition of Toftan

Estonia
Tools
Typography
  • Smaller Small Medium Big Bigger
  • Default Helvetica Segoe Georgia Times

Cobalt has advised Combiwood Grupp on its acquisition of Toftan from its existing shareholders Mattsbo Sag, Wigert Invest, Lars Lindgren Invest, Marnefeldt Invest, Investyno, Martin Arula, Jaanus Lehes, and Merli Randoja. Eversheds Sutherland and Vinge reportedly advised the sellers.

The transaction remains contingent on regulatory approval.

Combiwood Grupp is an Estonian vertically integrated wood industry company operating a group of 12 companies across the country. According to Cobalt, the acquisition of Toftan, a profitable and technologically advanced wood processing company based in Southern Estonia, will further strengthen Combiwood’s operational footprint and complement its sustainable growth strategy. Post-acquisition, Combiwood will have total revenues of approximately EUR 276 million and a workforce of around 990 employees. Toftan will continue to operate under its existing name and brand.

The Cobalt team included Partner Peeter Kutman, Managing Associate Mart Blondal, Senior Associate Liina Saaremets, and Junior Associate Ken Saksniit.

Cobalt at a Glance

COBALT is a closely integrated alliance of top-tier law offices across the Baltics, uniting more than 250 attorneys and support staff. During 25 years of experience, we have become a strategic partner to our clients in handling both daily matters and complex large–scale transactions and disputes.

The firm’s broad spectrum of expertise and established position as the market leader gives a comprehensive basis for providing full-service business law advice.

Top international and regional businesses, financial institutions, state and local governments, and the region’s most promising start-ups are among our clients. We offer leading-edge solutions in key industry sectors: Consumer Products, Trade & Distribution, Real Estate & Construction, Pharmaceuticals & Healthcare, Energy & Utilities, Communications, Media & Technologies, Financial Services, Transport & Logistics.

COBALT has been named Baltic Law Firm of the Year 7 times receiving Chambers Europe, IFLR, The Lawyer and Mergermarket awards, and we are regularly listed amongst the top-performing M&A legal advisors in the Bloomberg, Refinitiv and Mergermarket deal tables. Recognized as the No.1 Lithuanian law firm in the Prospera Law Firm Review 2021 and No. 1 law firm in Latvia in 2022, 2020, 2019, and 2018 client satisfaction surveys. We were recognized as a Baltic-wide Law Firm of the Year at the 2022 Chambers Europe Awards ceremony and named the Baltic States Tax Firm of the Year and Pro Bono Firm of the Year at the annual ITR EMEA Tax Awards 2021 ceremony. 

More information on COBALT can be found at www.cobalt.legal.