Cobalt has advised the BaltCap Latvia Venture Capital Fund and other shareholders on their sale of Vendon to Azkoyen. Garrigues reportedly advised the buyer.
Draugiem Group company Vendon provides business intelligence, telemetry, and payment solutions in Central Europe.
BaltCap is a private equity and venture capital investor in the Baltics.
The Spain-headquartered Azkoyen Group specializes in the design, manufacture, and sale of technological solutions for payment systems, vending machines, security systems, and access control.
"BaltCap’s goal has always been to enable growth companies in the Baltic Sea region to fulfill their true potential and help local talent take their businesses to the global stage," BaltCap Partner Martins Jaunarajs commented. "Within the Azkoyen Group, the Vendon team will have the opportunity to expand their reach further and develop new cutting-edge technology solutions."
The Cobalt team included Partners Guntars Zile and Sandija Novicka, Senior Associates Elina Locmele, Diana Zepa, and Liga Fjodorova, and Associates Agnese Gerharde and Gabriela Santare.
