The Tallinn office of Cobalt has advised French private investment house Ardian on its acquisition of 100% of Nevel Oy from Vapo Oy. Vapo was advised by Finland's Avance Attorneys.
According to Cobalt, “Nevel Oy is a leading district heating and industrial energy solutions company that owns and operates more than 130 heat and power plants and over 40 district heating networks across Finland, Sweden, and Estonia, together with one of the most sophisticated digital operating platforms on the market.”
Cobalt describes Finland's State-owned Vapo Oy as having “long traditions starting from 1940 both in the field of energy and the production of horticultural peat, today employing approximately 1,000 people in seven different countries across Europe.”
Cobalt’s team included Partners Martin Simovart, Marina Kotkas, Aivar Taro, Elo Tamm, and Karina Paatsi, Senior Associates Heleri Tammiste, Mattias Tammeaid, and Madis Reppo, Associates Helen Sool and Stella Raudsepp, and Assistant Lawyers Richard Reiles and Mari Teder.