Sorainen has advised Eco Baltia, backed by the INVL Baltic Sea Growth Fund and the EBRD, on its acquisition of an 85% stake in Ecoservice from the BaltCap Private Equity Fund II. TGS Baltic advised the seller.
Closing of the deal is contingent on the approval of the Lithuanian Competition Council.
Eco Baltia is a provider of waste management and recycling services.
Ecoservice is a provider of recycling, waste management, and construction waste collecting, among other services.
“INVL Baltic Sea Growth Fund invested in Eco Baltia in 2020 and we are aiming to significantly grow the company both organically and through acquisitions, focusing on two segments specifically — PET recycling and waste management,” commented Vytautas Plunksnis, Partner at INVL Baltic Sea Growth Fund and Chairman of the Supervisory board at Eco Baltia. “This is a significant development for the company in terms of capability and will be instrumental in achieving these goals.”
Sorainen’s Vilnius-based team consisted of Partners Mantas Petkevicius and Asta Augutyte-Rapkeviciene, Senior Associates Zilvinas Briedis, Julija Kirkiliene, Aurelija Daubaraite, Edita Dauksiene, and Agne Sovaite, Associates Laura Matuizaite, Gabriele Raizyte, Lukas Vaisvila, Sidas Sokolovas, Simona Vaicekauskaite, Jurgita Tekoriene, Juliana Pavilovska, and Akvile Jurkaityte, and Legal Assistant Goda Jakubauskaite.
TGS Baltic’s Vilnius-based team included Partner Dalia Tamasauskaite-Ziliene and Associate Julija Skardziute.