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Citypark is one of the largest Estonian parking operators, operating around 6,500 parking spaces in Estonia.

NCFA advised Citypark’s shareholders in divesting their shares to Lithuanian Unipark in one-on-one negotiations.

Unipark – a trademark used by UAB Stova, subsidiary of Lithuanian Modus Group, operates in car retail, renewable energy and real estate businesses in the Baltics. Modus Group has about 700 employees and a turnover of ca EUR 270 million.

estonia lithuania
Activity: Car park operator
Negotiated sale, EV € 2m
NCFA advised Citypark’s shareholders in divesting their shares to Lithuanian Unipark in one-on-one negotiations.

Hagar produces bakery products in Estonia. Its products include breads and buns, pastries, other bakery products, pizzas and sandwiches. Ingman Group is a family office, which sold its ice cream business “Ingman” to Unilever in 2011. Since then, Ingman Group has made several investments in Estonia and Scandinavia. Ingman Group acquired Hagar in 2013 with a plan to expand the bakery business into Scandinavia.

NCFA advised Ingman Group in divesting its shareholding/assets and business in Hagar to Eesti Leivatööstus.

Eesti Leivatööstus, headquartered in Tartu, is one of the largest Estonian conventional bakery and pastry products manufacturers.

estonia finland
Activity: Manufacture of bread and pastry
Negotiated sale, EV € 2m (disteressed)
NCFA advised Ingman Group in divesting its shareholding/assets and business in Hagar to Eesti Leivatööstus.

Ha Serv is one of the leading wooden sauna components, ready-made saunas and thermal wood products manufacturers in Europe. With sales of more than EUR 20 million, Ha Serv exports most of its production all over the world.

NCFA advised the majority shareholder of Ha Serv and conducted a full sales process, including several European strategic players and regional financial investors. Ha Serv was eventually sold to Livonia Partners.

Livonia Partners, established in 2015, is a pan-Baltic private equity house with funds under management reaching EUR 80 million. Ha Serv was the first investment for Livonia Partners.

estonia latvia lithuania
Activity: Planed timber and thermowood
Targeted auction, EV € 34m
NCFA advised the majority shareholder of Ha Serv in divesting its shareholding to private equity house Livonia Partners.

TextMagic, established in 2001 and headquartered in Cambridge, UK, provides text messaging and telemarketing services for businesses, agencies and developers. On average over 40 million messages are sent annually through TextMagic platform.  

NCFA advised the management in an MBO transaction.

united kingdom estonia
Activity: Bulk SMS services
MBO, EV € 1m

NCFA advised the management in an MBO transaction.

Lasita Maja is one of the leading log cabin manufacturers in Estonia with revenues exceeding EUR 30 m.

NCFA advised the sole shareholder of Lasita Maja in one-on-one divestiture negotiations with Dutch Outdoor Life Group. The transaction was executed in two stages. Initially OLG acquired 40% in 2014 with a call option to acquire the remaining 60%. In 2016, OLG executed the option partially, acquiring additional 50%. The founder continues as a CEO, holding 10% shareholding.

Outdoor Life Group is headquartered in the Netherlands and is one of the leading timber garden products groups in Europe with revenues of ca EUR 170m.

estonia netherlands
Activity: Manufacture of log cabins
Negotiated sale, EV € 12m
NCFA advised the sole shareholder of Lasita Maja in selling minority shareholding to Dutch Outdoor Life Group.

Family business HeTi Pere is a metal working company and a subcontractor to many well known industrial companies like Metso, Andritz, Sulzer etc.

NCFA advised the sellers and conducted a full sales process involving several Scandinavian strategic players. HeTi Pere’s 100% shareholding was eventually sold to pan-Baltic Technobalt Group.

Technobalt Group is pan-Baltic conveying and material handling solutions provider, mainly focusing on machinery used for mining, quarrying, recycling and loading. Technobalt Group employs over 100 people and has revenue of ca EUR 20 m.

estonia latvia lithuania
Activity: Machine and metal industry
Targeted auction, EV € 3m
NCFA advised the sellers in divesting their shareholding to pan-Baltic Technobalt Group.

Puidukoda, located in Estonia, is involved in production and marketing of planed timber products and profiled boards made of Nordic softwood. Roughly 70% of the production is exported to more than 20 countries worldwide. The company’s sales reach EUR 25 m and it employs ca 100 employees.

NCFA advised the majority shareholder in divestiture process and conducted a full sales process involving several European and Asian strategic players. Puidukoda’s majority shareholding was sold to French Protac.

Protac is part of Group Rose – a timber group, located in Lamballe, Brittany, France. In addition to planed timber products, Groupe Rose is also one of the leading farm builders in France. The consolidated sales of Group Rose reach ca EUR 75 m and the group employs roughly 250 employees.

estonia france
Activity: Planed timber products
Targeted auction, EV € 7m
NCFA advised the majority shareholder of Puidukoda in divesting its shareholding to French company Protac.

Sterotek RVM was engaged in resale and lease of Tomra reverse vending machines in Estonia.

NCFA advised the sole shareholder of Sterotek RVM in one-on-one negotiations where Tomra Europe and the majority shareholder of Sterotek RVM entered into share swap transaction and established a joint venture to cover the whole Baltics.

Tomra is a global, leading reverse vending machines and sorting solutions producer, headquartered in Norway. Tomra is listed in Oslo stock exchange, has revenues of ca EUR 6 bn and 3500 employees.

estonia norway
Activity: Reverse vending machine solutions
Negotiated sale, EV € 7m
NCFA advised the sole shareholder of Sterotek RVM in establishing a pan-Baltic joint venture with Tomra.


Nordic CF Advisory OÜ

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