Cobalt Estonia has advised BPM Mezzanine Fund SICAV-SIF, SCA on matters related to the financing of AS Eskaro.
Cobalt describes AS Eskaro as "one of the leading producers of paints in the region, with factories in Estonia, Finland, Belarus, Russia, and Ukraine." The company, which is a subsidiary of Eskaro AB, has been operating for over 20 years, starting in Tallinn in 1993. The company will be using the funds as working capital, as well as for refinancing. According to Andres Assor, a member of the Eskaro Board of Directors, “this transaction is an important step forward for us providing financial stability and strength for further growth. Eskaro brands are among the most recognized and trusted by consumers in our key markets. Attracting a strong financial partner allows Eskaro to continue gaining the market share in the countries we operate.”
BPM Capital is an independent investment company with offices in Tallinn and Warsaw. Cobalt describes BPM Mezzanine Fund as "a vehicle for several distinguished investors." It was originated through the Baltic Innovation Fund (BIF) initiative created by cooperation between Estonia, Latvia, Lithuania, and the European Investment Fund.
The Tallinn-based Cobalt team included Partner Peeter Kutman, Senior Associate Ott Aava, and Associate Sille Rastas.