PwC Legal has advised real estate manager and administrator Stell Estonia on the acquisition of competitor Kyyrix.
Stell employs 1,500 people and serves nearly 400 business customers and more than 300 apartment associations across Estonia. The company's turnover in 2019 was EUR 21 million and its operating profit was EUR 744,000.
Kyyrix employs almost 250 people and serves over 200 industrial companies in South Estonia. In 2019 the company's turnover was EUR 3.2 million and its operating profit was EUR 190,000.
PwC Legal’s team consisted of Head of M&A Rutt Vark, Specialists Counsels Karin Marosov and Indrek Ergma, and Attorneys-at-Law Jana Tudelep and Maris Alt. The firm did not reply to an inquiry about the deal.