Cobalt has advised vehicle parts distributor Meko on its EUR 122 million acquisition of spare parts and services provider Koivunen.
"I am very pleased that we have managed to complete the acquisition this early and we will now start working with extracting the synergies and efficiency projects," Meko CEO Pehr Oscarson commented. "The acquisition of Koivunen is in line with our well-proven strategy to create value through carefully selected acquisitions, as we have previously done in Sweden, Norway, Denmark, and Poland. Koivunen is a prosperous company with strong brands that will continue to develop in its existing company structure as its own business area. With Koivunen in Meko, we take a clear step towards the goal of being the best and most comprehensive partner for everyone who owns and services vehicles in Northern Europe."
Koivunen is an automotive spare parts and related services provider in Finland, Estonia, Latvia, and Lithuania. Meko is a Nasdaq Stockholm-listed spare parts distributor in Northern Europe.
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 Juozas Rimas and Managing Associate Deimante Pagiriene.
Cobalt was unable to disclose further information about the deal.