Ellex Raidla and Cobalt have worked alongside Taaleri Capital in advising the management of Oriola Baltic in their August 14, 2017 buyout of the company's five Baltic subsidiaries, the reorganizing of the subsidiaries in Estonia, Latvia, and Lithuania under a new Latvian parent company, SIA Oribalt Group, and the transaction financing.
According to Ellex Raidla, the new Oribalt Group "will be one of the top 100 Latvian companies by turnover" and "employs 160 people in three countries in the field of pharmaceutical pre-wholesale, wholesale, and Internet pharmacy." The net sales of the Baltic businesses in 2016 was EUR 54 million, with an adjusted EBIT of EUR 1.2 million. Oriola will focus going forward on developing its businesses in the Nordic countries.
The Estonian part of the transaction was advised by Ellex Raidla including Partner Martin Kaerdi and Counsel Antti Perli.
The Cobalt team in Latvia consisted of Managing Partner Lauris Liepa and Specialist Counsel Edgars Lodzins.