Sorainen advised BaltCap, a major private equity and venture capital investor in the Baltic region, on sale of Kelprojektas to Swedish technical consultancy firm Tyréns. Kelprojektas’ operations will continue under the existing name and brand.
Kelprojektas is Lithuania’s largest infrastructure consultancy and is also active in the fields of design, water, geotechnics, the environment, traffic, planning and landscape architecture. In Sweden, Kelprojektas operates through the company ICCON, which is also included in the acquisition together with the companies Urbanistika and Kelvista in Lithuania. Kelprojektas has a total of just over 250 staff at three offices in Lithuania. ICCON’s office is in Stockholm. Together, the companies have a turnover of approx EUR 10 million.
“BaltCap and the management team at Kelprojektas have developed a leading Lithuanian engineering consultancy into an international group which advises on projects in the Baltics and Sweden. We’re sure it will continue to expand its service offering and international footprint under the ownership of Tyréns. We’re glad to have contributed to another success story for Baltic business,” said Šarūnas Alekna, Investment Director at BaltCap.
Sorainen advised the client on all transaction-related legal issues.