Cobalt boasts an impressive and experienced commercial, corporate, and M&A practice. The group handles stock exchange and public M&A matters, as well as holding extensive experience in private M&A transactions across a range of industries, such as energy, utilities, insurance, financial services, and logistics. The team is led by co-heads Guntars Zile and Gatis Flinters, with the former heading up the firm’s dedicated M&A practice group, and the latter taking charge of the corporate and commercial team. Key support is provided by Dace Silava-Tomsone, who has plenty of experience in this area and specific expertise in M&A control, and Indrikis Liepa, who boasts exceptional experience in M&A deals within the pharmaceutical and IT sectors, frequently acting for start-ups.
Commercial, corporate and M&A in Latvia
Cobalt
Praxisleiter:
Guntars Zīle; Gatis Flinters
Weitere Kernanwälte:
Dace Silava-Tomsone; Indrikis Liepa
Kernmandanten
airBaltic
BaltCap
Luminor Bank
Moller Baltic Import
Pfizer
Roche
Latvenergo Group
Ķekava Foods
Printify Development
Verifeye Online
Highlight-Mandate
- Advised the Luxembourg-based investment fund Marguerite on the sale of its 28.97% stake in AS Latvijas Gāze, the Latvian natural gas trading and sales company.
- Advised major poultry meat producer Putnu fabrika Ķekava on its reorganisation process, addressing highly complex aspects of corporate governance.
- Advised Roche on facilitating the expansion of their Services & Solutions operations in Latvia.
Ellex
Ellex boasts an experienced and specialised team that frequently handles complex M&A deals. With impressive specialised industry practices in energy, financial services, pharmaceuticals, IT, and IP, they are well-placed to handle a variety of matters on behalf of clients. Practice head Raimonds Slaidiņš has considerable experience advising a broad range of foreign investors on complex and strategic merger and acquisition projects in Latvia. The team is well-supported by Filips Klavins, who brings expertise in cross-border M&A, including project management, complex due diligence, and transactional documents.
Praxisleiter:
Raimonds Slaidiņš
Weitere Kernanwälte:
Filips Klavins
Kernmandanten
Printful
Whirlpool
Booking.com
Coca-Cola HBC
AT&T
Accenture
Orkla
Livonia Partners
Whirlpool
UnifiedPost
Greengold
Blackstone
Uniper
Eesti Energia
Schwenk Zement
Reganosa
Latour
GoCardless
Enery
Altor
Nordic Tyre Goup
Orpea SA
TÜV Rheinland
Gren
Merito Partners
Highlight-Mandate
- Advised ERGO International AG, managing ERGO Group’s international business portfolio, on entering into the share purchase agreement for the acquisition of ADB Gjensidige.
- Advised Cabinair Services Ltd. on the acquisition of a majority shareholding in SIA AeroKnow.
- Advised Culligan International on acquiring sustainable drinking water service provider Primo Water Corporation’s European business.
Sorainen
The practice at Sorainen has a deep knowledge of commercial, corporate, and M&A matters, with expertise in a wide range of industries, including the energy, technology, and industrial sectors. The team is led by an impressive and well-experienced outfit: Eva Berlaus, a seasoned M&A and private equity practitioner; Nauris Grigals, who has years of experience in corporate law and M&A practice; and Jānis Līkops, who joined the team in April 2024 from FORT. Together, they ensure the ‘highly responsive team’ maintains, ‘a high level of professionalism, responsibility, and ability to understand’ complex issues.
Praxisleiter:
Eva Berlaus; Nauris Grigals; Jānis Līkops
Referenzen
‘What makes this practice unique is its unwavering commitment to client success, coupled with a deep understanding of legal intricacies across various industries. The team demonstrates exceptional professionalism and dedication, always ensuring that their advice is tailored to the unique needs of each client. They are highly responsive, and approachable, and prioritize clear communication, making complex legal matters easy to understand for clients.’
‘One of the firm’s standout strengths is its ability to offer practical, business-oriented solutions while maintaining a keen eye for legal detail. Their collaborative approach ensures that clients receive well-rounded advice, drawing from the diverse expertise of the team.’
‘Compared to other firms, they are distinguished by their strong client focus, creative problem-solving, and a genuine commitment to achieving the best outcomes for those they represent.’
Kernmandanten
Rimi Baltic
Gjensidige
Gren Latvija
Solar
Kajax Fishexport
ANTALIS
Tikedo S.r.l.
Livonia Partners
Nissan Nordic Europe
Ramudden Global
Clean Energy Investments
Latvian Red Cross
Helmes Latvia
Rotermann
LNK Group
James Jānis Berdigans, founder of Printify
Axxeron Fricke GmbH
Highlight-Mandate
- Advising Rimi Baltic on selling logistics and office centre in Riga.
- Advised Gren, Northern European green energy company, which develops and provides green energy solutions, on their expansion and investments in sustainable district heating and renewable energy production assets in Latvia.
WALLESS
The WALLESS team has developed considerable strength in advising clients on complex and sensitive corporate restructurings, allowing companies to streamline operations, reduce costs, and enhance financial performance as a result of reorganisation efforts. The firm was involved in advancing the renewable energy industry, advising Latvenergo on the strategic acquisition of six solar power plants. Bringing considerable experience, the team is led by M&A partners Sintija Radionova and Zane Eglīte-Fogele, with the addition of Aivars Lošmanis to the leadership team. The team continues its strong work across various sectors, including energy, agriculture, IT services, real estate, and investment management.
Praxisleiter:
Zane Eglīte-Fogele; Sintija Radionova; Aivars Lošmanis
Referenzen
‘WALLESS is a go-to team for acquisitions and other corporate matters. They have a clear vision how to structure the deals according to business needs. They are a leader firm in the market.’
‘Partner Sintija Radionova is our main contact. Her passion and knowledge when working with us was outstanding.’
Kernmandanten
AS Latvenergo
SIA Pakella
KS Merito Self Storage FUND AIF
SIA Merito Partners
Eco Baltia Vide
Eco Baltia Group
AJ Power
New Bumani Invest
Highlight-Mandate
- Advised AS Latvenergo on the strategic acquisition of six solar power plants (five companies), reaching a combined capacity of 37,9 MW.
- Advised the sellers of SIA Pakella on the acquisition by Antalis AS, a member of KPP Group Holdings Co., Ltd., a worldwide leader in Papers, Packaging and Visual Communication distribution based in Japan.
- Assisted Eco Baltia Group with a complex, multi-stage reorganisation of the group companies.
Eversheds Sutherland Bitans
The Eversheds Sutherland Bitans team is a well-established practice, successfully advising on large corporate, commercial, and M&A transactions across the Baltic market. The group possesses extensive experience across various industries, including the energy, ESG, manufacturing, telecommunications, and IT sectors. Māris Vainovskis is ‘outstanding as a leader’ and chairs a team of knowledgeable professionals, who operate as a strong team and command a ‘deep understanding of the law’.
Praxisleiter:
Māris Vainovskis; Lauma Bērziņa
Referenzen
‘High quality team, very professional, great time management and willingness to go the extra mile.’
‘They have great work ethic, reliable, friendly and great communicators.’
‘They always try to find a win-win situation and make the deals happen.’
Kernmandanten
AS “LATVIJAS KUĢNIECĪBA”
AS Madara Cosmetics
SIA “Latvijas Mobilais Telefons”
BM Holding
AS “Clean R Grupa”
“Igitis Renewables” UAB
MAGNUM Aktsiaselts
SIA “DELTRA”
Apollo Group OU
AS Digital Mind
Highlight-Mandate
- Advising VITOL Group, a global leader in energy trading on three major cross-border M&A deals.
- Advising AS MADARA Cosmetics on a landmark brand transaction – the sale of one of its brands, MOSSA Cosmetics to Oy Transmeri Ab.
- Advising AS CleanR Grupa, a group comprising Latvia’s leading environmental services companies, on developing its employee share option programme and the associated increase of equity capital with a condition.
Kronbergs Cukste Levin
Kronbergs Cukste Levin continues its work advising on sensitive, high-profile, high-value matters in the corporate sector. The firm has significant experience in working on high-profile M&A transactions, including serving as corporate counsel to RB RIX Engineer PS on an important engagement surrounding the ongoing Rai Baltiva project. Valters Kronbergs leads the practice and is a member of the Baltic Institute of Corporate Governance. He regularly advises clients on cross-border M&A projects and matters related to project financing.
Praxisleiter:
Valters Kronbergs
Referenzen
‘Very professional and smart women, always knowing how to help, very committed, super speedy responses. Walking the extra mile for us. I have already referred them to a friend.’
Kernmandanten
Atlas Premium Seafood
SIA IT Sapiens
Corporate Consulting SIA
Enertgreen Limited
Rytis Urbanavičius
Nordic Timber Group
Rhino R, SIA
RMHC
Rhino R, SIA
Oikross
Spar Latvija SIA
Baltijas Sporta Auto SIA
Kalceks AS
RB RIX Engineer PS
Gamma Baltic
Primus Law Firm
Spark Legal Network
Metasar Invest OU
Kandimed SIA
Avesco
DHL Logistics
Moller Auto
Intertrust Technologies Inc.
Moller Group
Alfor
Bridgestone Baltics
GEFCO Baltic SIA
DHL Global Forwarding & Supply Chain
Microsoft Latvia SIA
Microsoft Corporation
OTCF Latvia
Electrolux Latvia
Panasonic Marketing Europe GmbH
Suncrisp SIA
Avon Cosmetics SIA
VAS Latvijas dzelzceļš
Johnson & Johnson
OWBoost
Ezis Technologies SIA
Orkla Care
Reckitt Benckiser
FONTES VADIBAS KONSULTĀCIJAS SIA
LSAB Group AB
Highlight-Mandate
- Advised the Ministry of Health on liability of Supervisory Council members and representatives of shareholders of public companies for failures in the management of the construction of the new hospital building of Riga Stradiņš University Hospital and loss of EU funding.
- Assisted the Latvian State Roads/Ministry of Transportation with a legal study of implementation of EU Regulation No. 2023/1804 on the deployment of alternative fuels infrastructure on the main network of TEN-T roads in Latvia, including possible derogations from minimum infrastructure targets and power outputs.
- Advised Microsoft on the preparation of annual filings and other documents for registration.
TGS Baltic
TGS Baltic's corporate and commercial M&A practice group is involved in complex deals that have been successfully navigated across various industry sectors. The team has advised on matters within the aviation, technology, waste management, energy, media, and healthcare markets. Andra Rubene heads the M&A practice group with ‘good knowledge of the local market’; she leads a team that is ‘focussed on the real needs of the client and M&A process’.
Praxisleiter:
Andra Rubene
Referenzen
‘Strong and knowledgeable corporate team, very service-minded, get the job done efficiently.’
‘Good knowledge of the local market and giving valuable commercial input.’
‘Great availability and ability to efficiently solve issues on time when presented with tight deadlines.’
Kernmandanten
Accel-KKR
SIA LATVIJAS ZAĻAIS PUNKTS
AS Enefit Green
Kinnevik AB
Swedbank P&C Insurance AS
TÜV SÜD AG
IFCO SYSTEMS
Hawesko Holding SE
Impact Ventures I.
US Keysight Technologies, Inc.
SIA EDEN SPRINGS LATVIA
META Platforms Ireland Limited
AS KESKO SENUKAI
AS 1Home Group
Duck Republik
AS Green Genius
Clean Energy Infrastructure Fund
Highlight-Mandate
- Assisted Enefit Green AS, one of the largest electricity and renewable energy traders, with selling the Brocēni pellet mill and cogeneration plant in Latvia to Warmeston OU.
- Assisted Accel-KKR, a global technology-focused investment firm, with the Majority Equity Investment in Aico Group, an end-to-end financial close software platform.
- Advised Kinnevik AB on the sale of mobile communications company Tele2 AB shares to Freya Investissement.
VILGERTS
VILGERTS‘s corporate and commercial practice acts in both contentious and non-contentious matters across a variety of different industries, including IT, telecoms, technology, real estate, construction, retail, aviation, manufacturing, rail, and energy. The team has advised on several complex, high-profile local and cross-border matters. Practice heads Gints Vilgerts and Reinis Sokolovs both have respectable track records across a broad range of corporate and M&A matters. Previous co-head Elīza Grīnvalde departed the firm in May 2024 for an in-house position.
Praxisleiter:
Gints Vilgerts; Reinis Sokolovs
Referenzen
‘The team of lawyers is a balance between experts in commercial practice, competition, and EU law, which provides the opportunity to achieve results in a short time.’
‘Three things: Attitude, deadlines, and confidentiality.’
Kernmandanten
Air Baltic Corporation AS
BAO
BPM Capital OÜ
Capital AS
East Capital Real Estate AS
Ekspress Grupp AS
Manitou Group
Metsa Forest Latvia SIA
Stockmann Oyj Abp
Sveaskog Baltfor SIA
GroGlass
DECATHLON SA
Summus Capital OÜ
Banderi S.IDE SIA
Anodox AB
Antares Venture Capital AS
Bolt
C&D Style SIA
Crayon Latvia SIA
Family Law Digital SIA
FlaktGroup Baltics UAB
Frode Laursen A/S
KE Trading SIA
VT EAST SIA
Baltic Dairy Board SIA
Citco
Capital Handling SIA
DOKUMEDS SIA
EPAM Systems SIA
FRACHT SIA
GIVEN Jewellery AS
Happy Fish SIA
If P&C Insurance AS Latvijas filiāle
Latvijas Mobilais Telefons SIA
Lidl Latvija SIA
Longo Group AS
Stenders SIA
TWINO Investments AS
KE Trading SIA
Riga Bulk Terminal SIA
Adaptive Media SIA
Hausers Grupp Osaühing
Highlight-Mandate
- Advised East Capital Real Estate Fund IV on the various legal aspects of its EUR83m acquisition of 100% of the shares in Deglava Real Estate SIA.
- Advised the founders of Adaptive Media, an international ecommerce company, on the sale of a majority of shares to the Merito investment fund.
- Represented BAO AS, a leading Latvian waste management company, in its filing of an appeal to the Procurement Monitoring Bureau regarding the results of a high-profile tender.
BDO Law
BDO Law‘s corporate and commercial practice team utilises the versatile and unique experience provided by each team member to assist clients in a range of sectors, such as data protection, tax, real estate, and public procurement. The firm benefits from the vast experience of its two team leaders, Vita Liberte and Jānis Zelmenis.
Praxisleiter:
Vita Liberte; Janis Zelmenis; Jevgenijs Jesilevskis
Kernmandanten
Everfield UK Ltd
ZGI Capital
Highlight-Mandate
- Advised Everfield, a specialized software investor backed by private investment firm Aquiline Capital Partners based in London and New York, on buying 100% shares of SIA “A group”, a leading HR digitalisation software and service provider in Latvia, Estonia, Lithuania, and Poland.
- Advised ZGI Capital, SIA alternatīvo ieguldījumu fondu pārvaldnieks, and SIA Build Up on a potential mezzanine loan investment.
ZAB Deloitte Legal
The team at ZAB Deloitte Legal brings experience and strength in restructuring work, as well as providing advisory and due diligence services. The practice co-heads, Jānis Čupāns and Ivita Samlaja, have extensive experience in the area, with the former boasting expertise in international tax planning, structuring of transactions, and VAT, and the latter’s experience evidenced by a career in legal consulting in areas like commercial law, M&A, banking and finance, employment law, and data protection.
Praxisleiter:
Ivita Samlaja; Jānis Čupāns
Referenzen
‘Excellent skill set combined with a very pragmatic approach. Well-versed in international relations, and an excellent command of English.’
‘Great business acumen, combined with an eye for detail and nonlegal considerations. Great responsiveness.’
‘Excellent advice, strong communication skills, responsiveness, and business acumen. Extremely knowledgeable, extremely responsive, great communicator, excellent knowledge of everything relevant to doing business in Latvia, a great asset to have in dealing with international clients.’
Kernmandanten
DNB Bank ASA Latvijas filiāle
Peek & Cloppenburg
SIA “Dinotrans”
AS “Dobeles dzirnavnieks”
SIA “Storent”
Group DC
SIA “Kronus”
Highlight-Mandate
- Advising DNB Bank ASA branch in Latvia on agreements with construction vendors and commercial lease agents during their office space changes, amongst other wide range of daily legal assistance.
- Advised SIA “Storent” on restructuring, resulting in the issuing of bonds on the stock exchange with a maturity date of 21 December 2025.
- Assisted SIA “Biznesa, mākslas un tehnoloģiju augstskola “RISEBA” with a legal dispute reclaiming real estate retained by state institutions.
drill. Law Firm
The team at drill. Law Firm is led by Ieva Judinska-Bandeniece, who has experience in M&A transactions, the structuring of complex commercial transactions, and specific knowledge of IP rights. The firm is ‘highly responsive’ with ‘excellent specialists’ in IP, real estate, and construction.
Praxisleiter:
Ieva Judinska-Bandeniece
Referenzen
‘Ieva Judinska-Bandeniece is very hands-on and client-oriented, treating me as a customer personally so that I feel welcome and valued.’
‘drill. law firm is a small and highly responsive team of lawyers with excellent specialists in the fields of real estate and construction. The team is very approachable and united, capable of delivering quick and high-quality results. Each case is handled professionally to achieve the most beneficial solution for the client.’
‘drill. Law firm is almost like a boutique practice in a sense, that it offers very personalised approach and no question, no problem is too small. That is something that make them stand out. We have known each other for quite some time already, and we trust their advice and judgment completely.’
Kernmandanten
Vairo IPAS
Rencēnu Piens
L’Oreal Baltic SIA
OAK Investment SIA
NewBaseCam SIA
Baltic Ground Services UAB
Hausers SIA
Ice crystal SIA
Highlight-Mandate
KPMG Law ZAB SIA
The KPMG Law ZAB SIA team handles M&A transactions on the local and cross-border levels in various sectors, with evidenced engagement in the renewable energy market, as well as real estate, utilities, and agriculture. Practice co-head Ieva Tillere-Tilnere leads the M&A team, whilst her counterpart Uģis Ludiņš takes charge of the corporate and commercial aspects.
Praxisleiter:
Ieva Tillere-Tilnere; Uģis Ludiņš
Referenzen
‘Very high professional service and deep understanding of the matters.’
‘Uģis Ludiņš is very pragmatic and has a deep understanding of Latvian energy law.’
Kernmandanten
Newsec Property Asset Management Sweden AB
Valsts akciju sabiedrība “Latvijas Pasts”
Sabiedrība ar ierobežotu atbildību “TRANSPORENT”
TSG Northern Europe Holding B.V.
Sabiedrība ar ierobežotu atbildību “REATON”
Bonava AB
Sabiedrība ar ierobežotu atbildību “GroGlass”
SIA Lofbergs Baltic
Thordin ApS
Highlight-Mandate
- Advised SIA Evecon on the sale of a pool of solar park projects to Modus Asset Management.
- Advised Sabiedrība ar ierobežotu atbildību “TRANSPORENT” on the acquisition of Veho Rent Oy Ab (SIXT franchise holder in Finland).
- Supported SIA GroGlass in establishing and implementing a share-based incentive plan for key management.
Law Firm CersJurkans
The corporate and M&A team at Law Firm CersJurkans handles work in various industries, with considerable experience in the forestry industry, alongside banking and investment markets. The team is led by Jānis Jurkāns, who is ‘distinguished by his hands-on approach in litigation’ and ensures that this ‘great and competent’ team is ‘very effective and client orientated’.
Praxisleiter:
Jānis Jurkāns
Referenzen
‘Jānis Jurkāns is distinguished by his hands-on approach in litigation, which enables him to deliver exceptional results in complex disputes. By being directly involved in every stage of the litigation process, Jānis meticulously identifies key issues and strategizes effectively to mitigate risks.’
‘Professional and individual approach.’
‘Professional and knowledgeable persons, quickly learn the necessary matter.’
Kernmandanten
Skogsfond Baltikum AB
Silvestica Green Forest AB
SIA “Silvestica Green Forest Latvia”
SIA “Silvestica 2 Green Forest Latvia”
Baltic International Bank SE
Estmak Capital OU
Synergia Solutions OU
AS “Latvijas Finieris“
Expansion Capital Fund AIFP LLC
Spring Capital OU
Highlight-Mandate
- Advising Skogsfond Balitkum AB on implementing their divestment strategy to exit the Latvian market and alienate their forest holdings.
- Advised AS “Latvijas Finieris” on various corporate governance matters.
- Advised major Swedish investment fund Silvestica Green Forest AB on the course of its activities within Latvia.
Magnusson
Magnusson‘s corporate and M&A team offers experience across a wide range of corporate issues. It provides advice on private and public M&A, as well as corporate governance and compliance issues in various industries, such as real estate, renewable energy, and manufacturing. Matīss Rostoks is head of the practice and specialises in M&A matters.
Praxisleiter:
Matīss Rostoks
Referenzen
‘Simply good collaboration.’
‘Reachable, professional, respect of my time.’
‘Quick response.’
Kernmandanten
NAOO Investments
Citco
SIA Demontāža
E Stacija
Eikos Statyba
European Sport Installations
Every Matrix
Evopipes
Granitops
Kaunas Metal
LunaJets
LSK Studios
SIA Tolmets
Mustad
LVL 1 ServiceS
Orifarm
Nissan
Nordlamell
Saneco
STG Solar Baltic
Re Arma
Enersense
Vetklinika 24
Firma L4
Syngenta
FlixBus
Solar Invest
CreaKids
Estate Guru
EUROWAG Group
NPK Services
SIA RGP
SIA A2Z Pharma
Highlight-Mandate
- Assisting NAOO Investments group with legal aspects concerning sale, rent, and management of real estate.
NJORD Law Firm
NJORD Law Firm‘s corporate and commercial team handles a range of corporate matters and M&A work, including restructuring, conducting legal due diligence, and high-value acquisitions and sales. The team is led by Dmitri Kolesnikov, an experienced corporate lawyer who has additional specialisation in the real estate and banking markets, a benefit to his clients when assisting in M&A deals.
Praxisleiter:
Dmitri Kolesnikov
Referenzen
‘Over the past two years, I’ve worked with NJORD on two significant business operations: the separation of a holding company involving international aspects and the purchase of an energy company’s shares. NJORD has successfully managed and finalized both transactions. They adhered to the set deadlines, offered transparent cost estimates, and ensured easy accessibility throughout the process.’
‘My main contact in the Corporate and M&A department is Dmitri Kolesnikov. He is always available and efficient.’
Kernmandanten
ETERNA ELECT SIA
Planet of Testing SIA
SIA MVBK
BALTIC WORLD SIA
X Infotech SIA
Liden & Denz Riga
CSI Leasing France
KIM JOHANSEN TRANSPORT SIA
Httpool Latvia SIA
VWG Invest 2 B.V.
3P GROUP Aps
Finance PRO ltd, SIA
UDVIKLINGSSELSKABET ABILDO ApS
EuroFitoFarm, SIA
Highlight-Mandate
- Advised owners of ETERNA INTERNATIONAL on the demerger of the business.
- Advised EREVON INVESTMENTS on the acquisition of the energy company SIA MVBK.
- Advised ANEX TOUR on launching operations in the Baltics.
PricewaterhouseCoopers Legal
PricewaterhouseCoopers Legal offers clients a range of legal services, engaging with acquisitions, corporate governance, due diligence, and restructuring activities. The team works in a range of industries, from pharmaceuticals, IT, and retail, to manufacturing and electrical engineering. Anete Puce-Dimitrovska is the lead partner and practice head of the corporate and M&A practice group, with key support from Karina Daugaviete and Dita Dzērviniece.
Praxisleiter:
Anete Puce-Dimitrovska
Weitere Kernanwälte:
Karina Daugaviete; Dita Dzērviniece.
Kernmandanten
MARCEGAGLIA CARBON STEEL SPA
AbbVie SIA
GE Vernova Inc
Wipro Limited
SIA Douglas Latvia
Highlight-Mandate
- Assisted a client with performing a red-flag vendor’s legal due diligence of a local pharmacy chain, as well as providing necessary legal advice concerning detected problematic aspects and non-compliance.
- Advising GE Vernova Inc. on required commercial advice and any necessary corporate changes concerning local legal entities.