COBALT advised shareholders of TMB Group on selling a major part of its business to Consolis

COBALT advised shareholders of TMB Group on selling its Finnish and Latvian operations to Consolis Group, one of Europe’s leading suppliers of precast concrete solutions. After the transaction, TMB will keep the Estonian production unit in Tartu. The transaction is also one of the largest M&A based exits of Estonian capital from a foreign investment in history.

Founded in 1961, TMB Group employs around 500 people and its annual revenue was close to €125 million in 2018.

Consolis is a leading precast concrete solutions provider in Europe. The Group provides smart, durable precast concrete structures for the transportation, utilities and building sectors. The company has more than 11,000 employees in 22 countries.

Our work comprised of advising the sellers as lead counsel in all aspects of the transaction. The client was advised by partners Martin Simovart, specialist counsel Jesse Kivisaari, partners Elo Tamm and Egon Talur, senior associate Tõnu Kolts and associates Liina Saaremets and Mart Blöndal.