Cobalt has advised London-based Vink Group, Europe’s largest semi-finished plastics distributor, on its acquisition of three Baltic companies, OU Proplastik, SIA Proplastik, and UAB Proplastik. TGS Baltic advised the Proplastik shareholders on the transaction. Financial details were not disclosed.
Proplastik, which was founded in 1996, is a plastic distributor with offices in Estonia, Latvia, and Lithuania. The group’s annual revenue is approximately EUR 20 million and it employs over 40 people in the Baltics. According to Taavi Reigam, CEO of Proplastik OU in Estonia, the transaction is an important milestone for the group: “Proplastik is now part of the leading international player in the sector. It allows to further improve our product offering and service level to our customers across the Baltics. It is good news for all our clients and employees.”
Vink Group operates as a federation of over 100 independent businesses in 16 European countries and China, with approximately EUR 100 million of inventory in its network of warehouses and factories.
Cobalt's pan-Baltic assistance was led by a team from its Estonian office consisting of Specialist Counsel Ott Aava, Partner Peeter Kutman, Associate Liina Saaremets, and Assistant Lawyer Kerli Paasoja. Partner Guntars Zile, Senior Associate Elina Locmele, and Associates Diana Zepa and Juta Gulkevica from Cobalt's Latvian office and Senior Associates Inga Mazvilaite and Jovita Valatkaitc from the firm's Lithuanian office assisted on local matters.
Editor's Note: After this article was published TGS Baltic announced that it had advised the owners of Proplastik in Estonia, Latvia, and Lithuania on the deal. The firm's team was led by Estonian Partner Sander Karson, supported by Associate Sille Rastas. Riga-based Partner Andra Rubene and Associate Reinis Grunte assisted on Latvian matters and Vilnius-based Partner Dalia Tamasauskaite-Ziliene and Associate Indre Vickaite-Liatuke assisted with respect to Lithuanian matters.