We advised the shareholders of Kurekss, which is one of Latvia’s leading sawmills and has over 30 years of industry experience, on the sale of 100% of shares in the company and, indirectly, its subsidiary Kurzemes granulas (a wood pellet producer in Latvia, in operation since 2005) to HS Timber Group.
About Kurekss
Established in 1995, Kurekss, with 150 skilled employees and an annual production capacity of 250,000 m³ of kiln-dried sawn timber, is one of the largest sawmills in Latvia and the Baltic region as a whole. The company’s sawmill is located in the western part of Latvia, near the ice-free port of Ventspils. The sawmill is surrounded by the largest stretches of forest in Latvia.
Kurekss also owns and operates the wood pellet manufacturer Kurzemes Granulas. The Kurzemes Granulas factory has been in operation since 2005 and currently produces approximately 70,000 tonnes of pellets per year.
Our team and involvement
We assisted the client with planning the transaction, negotiating the transaction terms, and concluding the relevant transaction documents. We also assisted and advised the sellers during the process of clearing the merger with the Latvian competition authority, and assisted with the transaction closing.
The Sorainen team was led by partner Nauris Grigals and included senior associates Ieva Prūse and Marika Grunte, as well as associates Alise Igale and Kate Berlaua.
