Cobalt has advised BaltCap on its acquisition of Senior Baltic from Orpea. Ellex advised the seller.
BPEF III acquired Senior Baltic via its subsidiary, Adoro. The transaction remains contingent on regulatory approval.
Senior Baltic operates an elderly care facility in Latvia, Dzintara Melodija. The facility opened in Riga in 2013 and has 202 beds.
Orpea is an operator of care homes and clinics across Europe, providing nursing homes, service residences, aftercare and rehabilitation, psychiatric care, medicalized retirement homes, and home services.
According to Cobalt, “the add-on investment is part of Adoro's strategy to build a leading social and healthcare chain over the next five years, with a total of more than 500 beds, providing high-quality care services in Latvia.”
According to Ellex, Orpea has announced the "sale of its entire scope of activities in Latvia."
In late 2022, Cobalt advised BaltCap on entering the Latvian social and healthcare sector via its acquisition of Dzives Abece assets (as reported by CEE Legal Matters on December 7, 2022).
Cobalt’s team included Partner Guntars Zile, Senior Associates Diana Zepa, Juta Meimere, Ivo Maskalans, and Agnese Gerharde, and Associates Gabriela Santare, Vadims Zvicevics, and Arturs Valdersterns.
The Ellex team included Partner Sarmis Spilbergs and Associates Gabriela Fomina and Kristers Losans.
