TGS Baltic, working with Gernandt & Danielsson and Lupp + Partner, has advised TUV SUD on its acquisition of Carspect Group Holding and its subsidiaries in Sweden, Estonia, and Latvia from IK Partners group company Arwen International and minority sellers. Sorainen reportedly advised IK Partners.
TUV SUD is a provider of testing, inspections, and certification solutions.
The Stockholm-based Carspect Group operates more than 150 test centers for periodic technical inspections of vehicles and other associated vehicle-related inspection services in Sweden, Latvia, and Estonia.
According to TGS Baltic, "with the acquisition of Carspect, TUV SUD now has a presence in the PTI market in nine countries. In addition to its home market of Germany, TUV SUD's testing and inspection experts are already providing PTI services in Turkiye, Spain, Austria, Slovakia, and South Africa."
The TGS Baltic team included Estonia-based Partners Kadri Kallas and Kirsti Pent, Associate Partner Triinu Jarviste, Senior Associates Mirko Kikkamagi, Liisa Levandi, Siret Saks, Olger Kaelep, and Mari Anne Rohtla, Lawyer Aleksander Pajuri, and Associate Ingeri-Helena Kakko and Latvia-based Partner Andra Rubene, Senior Associates Anna Vaivade, Aija Kreicberga, and Mara Stabulniece, and Associate Ance Pavasare.
