Sorainen has advised Eurovia, a subsidiary of VINCI, on the acquisition of a 75% stake in Estonian infrastructure construction company TREV2 Grupp from BaltCap.
Closing is expected to occur at the end of June after all regulatory requirements and other closing conditions have been fulfilled.
TREV-2 Grupp is an infrastructure construction company in Estonia dating back to the 1960s. The company’s main activities are road construction and maintenance, environmental construction, mining, and traffic management. In 2017, the company turnover exceeded EUR 70 million, and it had 360 employees.
According to Sorainen, ”Eurovia, a subsidiary of VINCI, is one of the world’s main transport infrastructure construction and urban development companies.” The company, which operates in 15 countries, builds roads, motorways, railways, airports and light rail systems, and helps develop industrial, retail, and urban sites. It employs almost 40,500 people and in 2017 generated revenue of EUR 8.1 billion.
“Eurovia has been present in Lithuania since 1994 and in Latvia since 2017," said Xavier Neuschwander, Chief Executive Officer of Eurovia Europe, Rail and Specialities. “We are very pleased to extend our business to Estonia. We were impressed by the professionalism and energy of the TREV-2 team and are looking forward to successful co-operation.”
Sven Pertens, CEO of TREV-2 aded: “We welcome Eurovia to Estonia. Globally, Eurovia has been at the forefront of innovation in infrastructure construction. It is a good match for our aspirations to be the best in engineering and technical development.”
The Sorainen team was led by Partner Toomas Prangli and Senior Associate Kai Vainola.
Sorainen did not reply to our inquiries on the matter.