COBALT advises Altum investment fund in financing Primekss

COBALT advises Altum investment fund on 8 million euro financing transaction with Primekss SIA. The investment aims to fund the Primekss group’s re-financing and further development.

Primekss is one of the world’s leading industrial flooring companies with a large workforce base in the Baltics, Scandinavia and Israel. The company licenses its technology to construction companies worldwide. Currently it exports its products to 25 countries, employing more than 360 people.

The Investment fund is one of Altum’s financial instruments that supports financing for large companies whose operations were adversely affected by Covid-19, as well as large companies that are ready to transform their current business model or adapt to the new realities of life and business. The total amount of the fund is projected at EUR 100 million.

Acting as a legal advisor to Altum investment fund, COBALT performed legal due diligence, drafted transaction documentation and provided legal support in negotiations with Primekss Group and OP Corporate Bank plc as the senior lender. COBALT team included Partner Guntars Zīle, Specialist Counsel Andrejs Lielkalns, Senior Associates Elīna Ločmele, Kristīne Patmalniece and Inga Tenisa, Associates Agnese Gerharde, Gabriela Šantare and Vadims Zvicevičs, as well as Junior Associate Maira Pužule.