Cobalt Estonia has advised seed investment company Ambient Sound Investment and other sellers on the sale of Ecofleet Holding to Fleet Complete, a global provider of mission-critical fleet, asset, and mobile workforce management solutions.
According to Cobalt, "Ecofleet is a telematics provider in the north European market, offering cost-effective, high-benefit mobile asset management solutions in Denmark, Finland, Sweden, Norway, Estonia, Latvia, and Lithuania. The company has over 80,000 subscribers across small-to-medium businesses and large enterprise fleets, growing Fleet Complete's subscriber base to over 110,000 in Europe and over 400,000 globally."
The acquisition allows Fleet Complete to enter new markets in Scandinavia and the Baltics.
Cobalt's team included Partner Peeter Kutman, Specialist Counsel Ott Aava, and Associates Madis Reppo and Liina Saaremets.
Editor’s note: After this article was published, Ellex informed us that they advised Fleet Complete on the acquisition. Their advisors were Partner Sven Papp, Counsels Jaanus Ikla, Mari Must and Antti Perli, Senior Associate Gerda Liik and Reet Saks, and Associate Merlin Liis.