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Cobalt Advises Combiwood on Acquisition of Toftan

Estonia
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Cobalt has advised Combiwood Grupp on its acquisition of Toftan from its existing shareholders Mattsbo Sag, Wigert Invest, Lars Lindgren Invest, Marnefeldt Invest, Investyno, Martin Arula, Jaanus Lehes, and Merli Randoja. Eversheds Sutherland and Vinge reportedly advised the sellers.

The transaction remains contingent on regulatory approval.

Combiwood Grupp is an Estonian vertically integrated wood industry company operating a group of 12 companies across the country. According to Cobalt, the acquisition of Toftan, a profitable and technologically advanced wood processing company based in Southern Estonia, will further strengthen Combiwood’s operational footprint and complement its sustainable growth strategy. Post-acquisition, Combiwood will have total revenues of approximately EUR 276 million and a workforce of around 990 employees. Toftan will continue to operate under its existing name and brand.

The Cobalt team included Partner Peeter Kutman, Managing Associate Mart Blondal, Senior Associate Liina Saaremets, and Junior Associate Ken Saksniit.

Eversheds Sutherland at a Glance

Eversheds Sutherland with offices in Bratislava and Prague and as part of an international network, provides comprehensive legal advice also in foreign jurisdictions.

Our team consists of a total of more than 40 lawyers in the Czech Republic and Slovakia, most of whom have previously worked at major international and local law firms and have extensive experience in particular in the areas of corporate law, including mergers and acquisitions, capital markets, real estate, employment law, competition law, litigation and arbitration, energy, infrastructure, as well as environmental and ESG law.

Our advisory services are offered in Slovak, German, Czech and English language. Members of our team include attorneys registered with the Austrian Bar Association. On this basis, and because we are part of Eversheds Sutherland, we are also able to offer extensive legal support on various foreign legal issues.

We listen to our clients, we understand their business and we also understand what they need. So we can always find the best solution for the particular situation. We work quickly, efficiently and take responsibility for our work.

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