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Cobalt Advises Kartesia on Acquisition of Groglass

Cobalt Advises Kartesia on Acquisition of Groglass

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Cobalt has advised Kartesia on its acquisition of Groglass — its first investment in the Baltics from NCH Capital — which reportedly was represented by Ellex Klavins.

According to Cobalt, "Groglass is one of the world’s leading developers and manufacturers of anti-reflective and other high-performance coatings on glass and acrylic for various industries, including high-end electronic and static displays, picture framing, museum showcases and construction materials."

Kartesia provided EUR 50 million to its management team, led by Founder and CEO Alexander Sasha Kelberg, to acquire Groglass from NCH Capital in an MBO transaction. 

Cobalt’s team was led by Partner and Head of M&A Practice Group, Guntars Zile, and included Partner Sandija Novicka, Specialist Counsels Edgars Lodzins and Andrejs Lielkalns, and Senior Associate Elina Locmele.

Ellex Klavins did not reply to our inquiries on the matter.

Editor's note: After this article was published, Ellex Klavins confirmed their involvement in the deal, their client was consulted by Senior Associate Maris Brizgo. 

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