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Cobalt Advises KJK on Acquisition of Stake in Tahe Outdoors, Ellex Raidla Advises Tahe on Acquisition of BIC Sport

Cobalt Advises KJK on Acquisition of Stake in Tahe Outdoors, Ellex Raidla Advises Tahe on Acquisition of BIC Sport

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Cobalt has advised Finnish private equity fund KJK on its acquisition of a 50% stake in Estonian Tahe Outdoors OÜ. Subsequently, Ellex Raidla advised Tahe Outdoors on its use of those funds to acquire BIC Sport for somewhere between EUR six and nine million, creating the second largest water-sports equipment producer in Europe.

According to Cobalt, the KJK Fund III mainly invests "in direct equity investments into both small or medium-size companies in Eastern Europe."

According to Ellex Raidla, the acquisition of BIC Sport "will lead to the creation of a new and dynamic worldwide player, with unique industrial technologies across a wide range of products and an international network of specialist retailers. BIC Sport’s products will continue to be manufactured and sold under license, together with the SIC & OXBOW Brands."

"Founded in 1979," Ellex reports, "BIC Sport pioneered the windsurf industry and progressively diversified its activities to include surfing, kayaking, junior racing dinghies and stand-up paddleboarding. Headquartered in Vannes, France, BIC Sport sells its products in more than 90 countries."

And, Ellex reports, "Tahe Outdoors is one of the most successful and dynamic European manufacturers of paddle sports and kitesurf products, with strong brands such as Tahe Marine, Core, Zegul, [and] Egalis. Founded in 1989, based in Estonia, Tahe Outdoors is distributed in more than 50 countries with products manufactured in France, Germany, and Estonia."

The Cobalt team advising KJK was advised by Senior Associate Kristjan Kotkas and Associate Madis Reppo.

The Ellex Raidla team was advised by Partner Risto Vahimets, Senior Associate Karl-Erich Trisberg, and Associate Anna Trine Raudsepp.

Estonian Knowledge Partner

COBALT is closely integrated alliance of top-tier law offices in Estonia, Latvia, Lithuania and Belarus, making us one of the largest law firms in the Baltic market. 

COBALT is a trusted partner for daily matters and complex large-scale transactions and disputes. The firm’s broad spectrum of expertise and established position as the market leader give a comprehensive basis for providing advice on special areas of business law.

We advise top international and regional businesses, financial institutions, state and local governments, and the region’s most promising start-ups. 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 6 times. We were recognized as the Most Innovative Law Firm of the Year 2019 in the Baltics at the IFLR European Awards in London. COBALT also won CEE Legal Matters Deal of the Year Award for Estonia, Latvia, and Lithuania, as well as the overall Baltic Deal of the Year, at the 2019 CEE Legal Matters Awards. We have received multiple awards from the Chambers Europe, IFLR, The Lawyer and Mergermarket and we are regularly listed amongst the top performing M&A legal advisors in the Bloomberg, Thomson Reuters and Mergermarket deal tables

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

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