COBALT advised one of Europe’s leading suppliers of industrial coatings Teknos Group Oy on the acquisition of Kemiflora’s paints and coatings business

On 28 February 2013, Teknos Group Oy and AS Kemiflora completed the transaction where Teknos Group Oy acquired a 100% shareholding in OÜ Kemiflora Kaubandus (with new business name OÜ Teknos).

Kemiflora has been involved in Estonia’s paints and coatings industry for many years, and has been a long-time importer of Teknos’ industrial and architectural coatings into Estonia. The annual turnover of Kemiflora’s paints and coatings business is more than EUR 5 million. OÜ Kemiflora Kaubandus was a 100% subsidiary company of AS Kemiflora, to which AS Kemiflora transferred its entire paints and coatings business shortly before signing the transaction with Teknos Group Oy.

Teknos is one of Europe’s leading suppliers of industrial coatings with production in 7 countries and sales to more than 35 countries. The Group’s annual turnover is close to EUR 250 million. Teknos was established in 1948 and is one of Finland´s largest family-owned businesses.

The acquisition strengthens Teknos’ position in Estonia, and will expand the company’s existing operations in line with Teknos’ growth strategy. Wet paints and powder coatings for the metal industry, together with industrial wood coatings and architectural coatings, are Teknos’ most significant business segments in Estonia and globally.

The COBALT team for this transaction was led by partners Martin Simovart and Marina Tolmatshova, and senior associate Heleri Tammiste on the transaction side, and by associate partner Elo Tamm with regard to merger clearance.