The Baltic M&A and Private Equity Awards is a part of the Baltic M&A and Private Equity Forum. This year the winners will be announced at the Awards Event to be held at „Lokstauk Speakeasy“, Vilniaus str. 33, Vilnius, Lithuania on 4 October at 18:30.
Baltic M&A industry achievement celebration is a tradition we have been keeping for 4 years already. The M&A, private equity and venture capital transactions of the year are selected by a committee consisting of market professionals and experts. The Committee selects the winning deals according to such criteria as the value of the deals and their strategic importance to the Baltic region, complexity, innovation, financing structure, and involvement of representatives of the region.
Awards will cover four categories:
Jūratė Aželionytė, European Investment Fund
Kristiina Koort, Estonian Private Equity & Venture Capital Association
Prof. Enn Listra, School of Business and Governance, Tallinn University of Technology
Jūratė Majauskienė, Association of Financial Analysts (Lithuania), Summa Advisers
Jānis Janevics, Imprimatur Capital
Rūdolfs Krese, ZGI Capital
Nominees for the Baltic M&A and Private Equity Awards 2017
NOMINEES FOR THE BALTIC M&A DEAL OF THE YEAR 2017 AWARD
1. Nordea and DNB merger in the Baltics
DNB ASA, the listed Norway-based financial services company providing financial services, including loans, savings, advisory services, insurance and pension products for retail and corporate customers, and Nordea AB, the listed Sweden-based financial services group providing services, products and solutions within banking, asset management and insurance businesses, have agreed to combine their Baltics region operation to form a new entity. The merger will enable DNB and Nordea to become the main bank for customers in the Baltics, through stronger geographic presence and broader product offering. Post-merger, DNB and Nordea will have equal ownership in the new entity.
2. Danish Agro a.m.b.a. acquisition of 45% stake in Konekesko Baltic subsidiaries from Konekesko Ltd
Danish Agro a.m.b.a (Denmark) has acquired a 45% stake worth EUR 21 million in Konekesko Eesti AS, SIA Konekesko Latvija and UAB Konekesko Lietuva from Konekesko Ltd. The acquisition will enable Danish Agro to be represented by CLAAS machinery sales in the six countries in Scandinavia and the Baltic’s. The transaction will provide Danish Agro with a strong market position as a partner to Baltic farmers. The transaction will strengthen the acquired entity’s machinery trade operations and also improve the customer experience. In addition, the parties agreed on DAVA Agravis’ right to buy and Konekesko’s right to sell the rest of the subsidiaries’ shares by notifying about it no later than January 2019.
3. Elisa Oyj acquisition of AS Starman
Elisa Oyj, the listed Finland-based integrated telecoms provider, offering wireless voice, data and internet services, e-mail and e-business services acquired AS Starman, the Estonia-based company engaged in providing cable TV and internet services, from Polaris Invest OU and OU Com Holding, the Estonia-based companies having interest in companies engaged in providing cable TV and internet services, for a cash consideration of EUR 151 million.
NOMINEES FOR THE BALTIC PRIVATE EQUITY / VENTURE CAPITAL DEAL OF THE YEAR 2017 AWARD
1. PAG Capital and Meridian Capital Management investment in Food Union Company
PAG Capital (Hong Kong) will invest USD 170 million and Meridian Capital (Russia) will invest USD 55 million in Food Union. The transaction will enable Food Union to expand and build a strong dairy products business in China. The transaction will provide Food Union with deep country specific knowledge and significant operational experience in support of the management team. Prior to this transaction, Meridian Capital had invested in Food Union's company Rigas Piensaimnieks LTD in 2015. Food Union operates in nine countries and employs 2,500 employees.
2. Livonia Partners acquisition of Santa Monica Networks SIA and Santa Monica Networks UAB
Livonia Partners, the pan-Baltic private equity firm, and Santa Monica Networks management, agreed to acquire Santa Monica Networks Latvia and Santa Monica Networks Lithuania, leading providers of network and IT security solutions in the Baltic region.
3. Sale of Pamario jėgainių energija, UAB by Orion Asset Management UAB and Energy Investment Fund
Orion Asset Management UAB, a Lithuania-based asset management firm and Energy Investment Fund, the Netherlands-based fund, sold Pamario jėgainių energija, UAB to IKEA Group, the Netherlands-based company engaged in retail of furniture, home furnishings and housewares. The transaction is in line with IKEA’s objective to produce more renewable energy and accelerate the transition to a low carbon economy. Pamario jėgainių energija owns and operates a wind park, located in Lithuania with a capacity of 45 MW, which consists of 19 wind turbines. Energy Investment Fund and Orion Asset Management before exit held a 51% and 49% stake accordingly.
NOMINEES FOR THE OUTBOUND DEAL FROM THE BALTICS 2017 AWARD
1. Lords LB Asset Management acquisition of City Parking Group S.A. (Poland)
Lords LB Asset Management, a Lithuania-based provider of investment management services, has acquired City Parking Group S.A., a Poland-based company engaged in handling organization and service of paid parking zones, from Royalton Partners Limited, a Poland-based private equity firm, for an undisclosed consideration.
- Acquisition of the largest parking area operator in Central Europe by a Lithuanian investor
2. AS Lauma International acquisition of Felina GmbH (Germany)
AS Lauma International, the Latvia-based parent company for Lauma Fabrics, a leading manufacturer of fabrics, laces and narrow bands for the lingerie industry, has acquired Felina GmbH, a Germany-based manufacturer and retailer of lingerie, from Palero Capital GmbH, a Germany-based private equity firm, for an undisclosed consideration. Citadele Bank and Baltikums Bank AS provided financing for the transaction. The acquisition of Felina will enable Lauma to expand its operations of underwear production and trade, creating a new, vertically integrated group whose total revenue will exceed EUR 75m and which will have a workforce of 1,250 employees.
- Felina reported minimum revenues of EUR 41m in 2016 and has a workforce of more than 700 employees, i.e. size of the target is similar or even bigger compared to the size of the Bidder
- Transaction financing (transaction financed by a consortium of Citadele Bank and Baltikums Bank)
3. AS PRFoods acquisition of John Ross Jr. (Aberdeen) Limited, Coln Valley Smokery Limited (UK)
AS PRFoods is a listed Estonia-based company engaged in the production and sales of fish products, headquartered in Tallinn. John Ross Jr. (Aberdeen) Limited is the UK-based Scottish processed salmon company, headquartered in Aberdeen. Coln Valley Smokery Limited is the UK-based smoked salmon producer, headquartered in Northleach. The acquisition of John Ross Jr. and Coln Valley Smokery Limited will increase the assortment of fish products offered by PRFoods, expand the geographical area of operations and raise the professional know-how as well as clientele.
- Deal value – EUR 15 million
- Deal geography: UK’s overcrowded food industry market was entered