Pohla & Hallmagi has advised VePo Investments, Vildemal Investments, and Sixten Invest on the sale of Rave Moobel to Furnico. Reportedly, Magnusson advised Furnico.
The transaction is pending regulatory approval.
Rave Moobel and Furnico are Estonian furniture producers.
The Pohla & Hallmagi team included Partners Juri Ploom, Rait Kaarma, and Martin Mannik and Lawyers Madli Astok and Elena Lass.
PwC Legal has advised Green Estonia on its acquisition of a majority stake in local furniture industry company Standard AS.
Green Estonia is a Tallinn-based private company.
According to PwC Legal, as a result of the transaction, Standard’s production will continue at the Kose factory with a renewed concept, while the machine park will receive a significant addition. “The company focuses on the development of the office furniture business and, in this process, several cooperation opportunities are also seen with other domestic companies in order to fight for a stronger position in foreign markets.”
The PwC Legal team included Partners Karin Marosov and Indrek Ergma, Attorneys at Law Ingeri-Helena Kakko and Karen Root, and Lawyer Joonas Kartsep.
PwC Legal did not respond to our inquiry on the matter.
Cobalt has advised the Nordic Secondary Fund II on its acquisition of a 10% stake in Cleveron AS. Eversheds Sutherland reportedly advised the sellers.
Founded in 2018, the Nordic Secondary Fund describes itself as the first and only fund in the Nordics to exclusively invest in secondaries.
Estonian company Cleveron is a manufacturer of robotics-based parcel terminals and the creator of last-mile click-and-collect pickup solutions for the retail and logistics sectors.
The Cobalt team included Partner Kristel Raidla-Talur, Specialist Counsel Madis Reppo, and Assistant Lawyer Marit Raatma.
Cobalt has advised Karma Ventures on its additional investment in its portfolio company and traffic ecosystem solution provider Commsignia, part of the company’s USD 15 million Series B round led by PortfoLion Capital Partners, Inventure, Day One Capital, and Inference Partners, together with Partech, and Credo Ventures.
According to Cobalt, “this investment will help Commsignia strengthen its leadership and grow faster in new markets and geographies as the digital transformation of the transport and automotive industry gains momentum.”
Karma Ventures is a venture capital fund specializing in late-seed and A-round investments in Europe’s most promising technology start-ups.
Commsignia is the largest company fully dedicated to vehicle-to-everything solutions with over 140 employees, according to Cobalt. “The company’s V2X products connect the entire traffic ecosystem, working together with partners in the automotive sector as well as those from the infrastructure operator side.”
The Cobalt team included Partner Kristel Raidla-Talur and Senior Associate Marten Amjarv.
Cobalt did not respond to our inquiry on the matter.
Nove has advised Estonian renewable energy company Sunly on the construction agreements for a 45-megawatt solar park in Estonia with contractors Smartecon and Connecto.
Smartecon is a solar component seller and installer.
Connecto designs, builds, and maintains electricity, telecommunications, and gas networks.
The Nove team included Partner Kristjan Tamm and Attorney at Law Veiko Vaske.
Nove did not respond to our inquiry on the matter.
Cobalt has advised the shareholder of the Adfactory Group on selling part of their shares in the company to German signage and advertising technology specialist Marahrens, with the two companies entering a strategic partnership.
According to the firm, following this transaction, the current management team will retain the majority shareholding in Adfactory.
Adfactory is a provider of advertising solutions in the Baltics, producing both illuminated and non-illuminated advertising solutions and custom furniture.
The Marahrens Group is an international family-owned business with more than 70 years of history, headquartered in Germany. It is involved in the production of advertisements, signs, and safety signage.
Cobalt’s team included Managing Associate Ott Aava and Associate Kerli Paasoja.
Editor’s Note: After this article was published, the Remo’s law firm confirmed it had advised H. Marahrens Schilderwerk Siebdruckerei Stempel GmbH on the deal. The firm’s team included Founding Partner Jana Reitsakas.
Cobalt has advised Change Ventures on leading a EUR 2 million investment round in Formaloo. Other investors included Hyde Park Venture Partners, Mana Ventures, and Startup Wise Guys.
Formaloo is an Estonian-based company founded in 2020. The company provides a collaborative platform for teams to build business applications. According to Cobalt, “with the raised investment, Formaloo will become a workspace hub that allows business users to access their tools on a single platform and create any kind of applications they want in a matter of minutes, not months.”
The Cobalt team included Partner Kristel Raidla-Talur, Specialist Counsel Greete-Kristiine Kuru, and Associate Johanna Lumiste.
Cobalt did not respond to our inquiry on the matter.
Cobalt successfully represented TREV-2 Group in a lawsuit involving a former employee sending several sensitive employer materials to their personal e-mail address shortly before the termination of his employment.
According to Cobalt, the “materials were revealed to the employee during their employment time. Naturally, every employer would question the real intent and permissibility of such an activity. Doubts about its legality are further increased if the employee starts working for a direct competitor of the former employer, as in this case. TREV-2 Group was convinced that sending business secrets to a personal e-mail could not be related to work duties, but rather to the desire to grow one’s know-how and use it for personal benefit. As a result, TREV-2 Group filed a lawsuit against the former employee, claiming a violation of the obligation to keep business secrets and demanding a fine.”
According to the firm, “neither the County nor District Court saw a violation of the employee’s obligation to keep business secrets, as the employee was not prohibited from using his personal e-mail. However, the Supreme Court took a broader approach and agreed that a situation where an employee sends sensitive materials to his personal e-mail, which are not necessary for his work duties can still be considered a violation of the use of business secrets according to the Restriction of Unfair Competition and Protection of Business Secrets Act and violation of the duty of loyalty according to the Employment Contracts Act.”
The Cobalt team included Managing Associate Kadri Michelson and Junior Associate Dina Tanaga.
Cobalt has advised the European Bank for Reconstruction and Development on an equity investment in Sunly.
Sunly is an independent energy producer that develops renewable energy projects in the Baltics and Poland.
According to Cobalt, the EUR 30 million investment “will enable Sunly to expand its renewable energy capacity in the Baltics and Poland, which is important for achieving significant greenhouse gas emissions savings, and to promote energy security in the region.”
The Cobalt team included Partner Kristel Raidla-Talur and Senior Associate Marten Amjarv.
Cobalt did not respond to our inquiry on the matter.
Cobalt has advised the City of Tallinn on renegotiating the PPP contracts with Vivatex Holding and the BCA Center for the lease of ten school buildings in the city. Walless advised the BCA Center.
According to Cobalt, back in 2006, the City of Tallinn had concluded “30-year PPP contracts with private companies for the full renovation of the school buildings but, as of today, the city was not satisfied with the originally agreed rental rates and wanted to either terminate the agreements or renegotiate terms.”
“An agreement was reached and the contract terms were amended, which means ten school building leases became 11% cheaper,” Cobalt reported. “In addition, the compensation paid by the city for school buildings at the end of the contract was limited. In total, these changes will help the city to save an estimated EUR 37 million.”
The Cobalt team included Partner Aivar Taro, Specialist Counsel Kadri Matteus, Managing Associates Annika Peetsalu and Kaidi Reiljan-Sihvart, and Senior Associate Siim Vahtrus.
The Walless team was led by Estonia Managing Partner Piret Kergandberg.