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Sorainen and Cobalt Advise on BaltCap Acquisition of Hansab

Sorainen and Cobalt Advise on BaltCap Acquisition of Hansab

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Sorainen has advised BaltCap on its acquisition of a 70% stake in the Hansab Group. Cobalt advised Hansab's majority shareholders on the sale.

The transaction remains contingent on regulatory approval.

BaltCap is a Baltic private equity and venture capital investor covering buyouts, growth, venture, and infrastructure investments.

Founded in 1991, Hansab develops and provides security, cash handling, point of sales, parcel handling, queuing, parking, and other automation solutions and services. The company operates in Estonia, Latvia, Lithuania, and Finland, with 18 offices and service points.

"Hansab is an established business that has developed a high quality and efficient service model in the fast-growing area of automation," BaltCap Partner Kristjan Kalda commented. "We see many avenues to grow the business further, using BaltCap’s long-term experience in taking Baltic companies to the international arena."

"During the past 32 years, we have successfully grown the company organically," Hansab CEO Aigar Urva added. "Now we intend to accelerate the development and enter new fields of activity and territories. We are happy to join forces with BaltCap, a financially strong and effective partner, helping us fulfill our growth strategy."

The Sorainen team included Estonia-based Partner Toomas Prangli, Counsels Hetti Lump, Piibe Lehtsaar, and Pirkko-Liis Harkmaa, Senior Associates Mirell Prosa, Liisa Maria Kuuskmaa, Andra Grunberg, and Olivia Kranich, and Associate Kadri Puu; Latvia-based Partner Nauris Grigals, Counsels Renate Purvinska and Andis Burkevics, and Senior Associate Marika Grunte; and Lithuania-based Senior Associates Mindaugas Dominykas Baniulis, Edita Dauksiene, Aurelija Daubaraite, and Jurgita Tekoriene, Associate Raminta Matulyte, and Assistant Lawyer Ryte Reciunaite.

The Cobalt team included Estonia-based Partner Martin Simovart, Managing Associate Jesse Kivisaari, and Associate Getter Villmann; Latvia-based Partner Guntars Zile and Senior Associate Diana Zepa; and Lithuania-based Partner Irmantas Norkus and Managing Associate Deimante Pagiriene.

Cobalt at a Glance

COBALT is a closely integrated alliance of top-tier law offices across the Baltics, uniting more than 250 attorneys and support staff. During 25 years of experience, we have become a strategic partner to our clients in handling both daily matters and complex large–scale transactions and disputes.

The firm’s broad spectrum of expertise and established position as the market leader gives a comprehensive basis for providing full-service business law advice.

Top international and regional businesses, financial institutions, state and local governments, and the region’s most promising start-ups are among our clients. We offer leading-edge solutions in key industry sectors: Consumer Products, Trade & Distribution, Real Estate & Construction, Pharmaceuticals & Healthcare, Energy & Utilities, Communications, Media & Technologies, Financial Services, Transport & Logistics.

COBALT has been named Baltic Law Firm of the Year 7 times receiving Chambers Europe, IFLR, The Lawyer and Mergermarket awards, and we are regularly listed amongst the top-performing M&A legal advisors in the Bloomberg, Refinitiv and Mergermarket deal tables. Recognized as the No.1 Lithuanian law firm in the Prospera Law Firm Review 2021 and No. 1 law firm in Latvia in 2022, 2020, 2019, and 2018 client satisfaction surveys. We were recognized as a Baltic-wide Law Firm of the Year at the 2022 Chambers Europe Awards ceremony and named the Baltic States Tax Firm of the Year and Pro Bono Firm of the Year at the annual ITR EMEA Tax Awards 2021 ceremony. 

More information on COBALT can be found at www.cobalt.legal.