Sorainen has advised Elektrobalt and the Wurth Group on the acquisition of Gaudre, a company in the lighting solutions market in Lithuania, from Practica Venture Capital. Cobalt advised the seller on the deal.
Elektrobalt — together with W.EG. Eesti in Estonia and Baltikelektro in Latvia — represents the Wurth Electrical Wholesale Group (W.EG) in the Baltic States. Serving customers in the residential, infrastructure and industrial markets, Elektrobalt offers a range of electrical products, services, and consultancy.
Ulrich Liedtke, Executive Vice President of the Wurth Group responsible for W.EG in Central and Eastern Europe, comments: “Based on its strong appreciation of local entrepreneurship, the W.EG consists of companies which are strong regional or national players. In this tradition, Gaudre will continue its operations while enjoying the benefit of drawing on central resources and joining hands for co-operation with existing W.EG companies in these countries.”
Sorainen assisted Elektrobalt and the Wurth Group on all legal matters related to the acquisition of Gaudre. The firm's team was led by Partner Sergej Butov and included Senior Associate Deimante Pagiriene, Associates Laura Ryzgelyte and Juliana Pavilovska, and others.
Cobalt's Lithuania team included Partner and Head of Corporate Transactions Department Elijus Burgis and Managing Associate Eva Suduiko.
