Ellex has advised Altor Fund IV on divesting from Nordic Tyre Group to Axcel Fund VII.
NTG is an independent tire wholesaler across the Nordics and Baltics. According to Ellex, it was built on a foundation established in 2019 through a partnership with the founders of Gummigrossen and Rengasduo. In 2021, NTG expanded its reach by acquiring the Latakko group companies in Latvia, Lithuania, and Estonia – establishing itself as the largest tire distributor in the Baltics.
The Ellex team included Partner Sarmis Spilbergs, Senior Associate Kaspars Olsevskis, and Associate Eliza Semkina.
Ellex did not respond to our inquiry on the matter.
