Ellex has advised European vending and coffee services company Selecta Group on the sale of its Baltic subsidiaries to BaltCap Private Equity Fund II, managed by BaltCap. Cobalt advised BaltCap on the deal, which remains subject to the approval of the competition authorities. The transaction price was not disclosed.
Selecta is present in 15 countries across Europe and serves 6 million consumers a day. The three Baltics businesses employ about 75 people and generate net sales in excess of EUR 10 million.
The transaction in Estonia was led by Ellex Raidla Partner Sven Papp and Senior Associate Gerda Liik. The transaction in Latvia was led by Ellex Klavins Senior Associate Sarmis Spilbergs and Partner Raimonds Slaidins. The transaction in Lithuania was led by Ellex Valiunas Senior Associate Povilas Zukauskas and Associate Arturas Grimaila.
The Cobalt team included Partner and Head of Transactions Practice Group Guntars Zile and Senior Associate Elina Locmele from in Latvia, Senior Associate Ott Aava and Associate Liina Saaremets in Estonia, and Associates Audrius Slazinskas and Justinas Sileika in Lithuania.
Editor's Note: After this article was published CEE Legal Matters learned that Baker McKenzie was in fact lead counsel to Selecta in the sale of its operations in Estonia, Latvia and Lithuania to Baltcap. The Baker McKenzie team was led by Zurich Partner Alexander Fischer, who was supported by Philippine Bossy and Roger Thomi.
Image Sources: comunicaffe.com