According to the overview of Mergermarket, a reputable international observer of the transaction market, DERLING’s team advised on a third of the Baltic region’s 10 largest merger and acquisition deals concerning Estonia in 2016.
The acquisition of 50% of shares in Nortal (a major IT exporter in the Baltic States) from LHV pension funds and Enterprise Investors was one of the high-profile deals. Another transaction that attracted much attention was the sale of a majority stake in Ha Serv OÜ (Estonia’s leading sauna components business) to a private equity fund managed by Livonia Partners. In both cases, DERLING advised one of the parties of the deal throughout the transaction.
The number of M&A deals soared in Estonia in 2016. According to partner Rolan Jankelevitsh, there has been a noticeable trend of foreign capital being substituted by Estonian capital for a while now. A number of large transactions have been concluded due to foreign investors exiting the region. “This enhances the opportunities of domestic investors to engage in shaping Estonia’s economic environment, and this is definitely positive. DERLING’s team of transaction advisors has been involved in various significant transactions for over 20 years. The year 2017 is already offering plenty of challenges in this field as well.”