Sorainen has advised the Kaamos Group on the sale of its majority stake in Estonian veneer producer Valmos to Poland’s Paged Group, which purchased the remaining shares from other sellers.
According to Sorainen, "Valmos has been developing dynamically. In 2017, company sales grew by 33% to EUR 11.3 million. According to the firm, "the Paged Group plans to support the company’s intensive development, including further investment in expanding production capacity and efficiency at Valmos’ production facility."
“The decision to sell Valmos was a difficult one for Kaamos Group and its shareholders," commented Marek Pohla, Chairman of the Kaamos Group Management Board. "Fifteen years ago when the shareholders acquired and restructured the company, high-flying ambitions were set and today these ambitions have been exceeded multifold. Today, Valmos is one of the world’s largest producers of birch veneer for furniture; approximately 97% of the company’s sales consist in export to Central and Eastern Europe, North America, and Asia."
The Sorainen team advising the sellers was led by Partner Piret Jesse and included Senior Associate Piret Lappert and Associate Robin Teever.
Editor's Note: After this article was published, CEE Legal Matters learned that Ellex Raidla has advised the Paged Group on the deal. The firm's team consisted of Partner Sven Papp, Counsel Jaanus Ikla, Senior Associates Gerda Liik, Helen Ratso, and Reet Saks, Associate Kaisa Laidvee, and Lawyers Kairi Kilgi and Mirko Kikkamagi.