We assisted the largest Scandinavian outdoor environment and infrastructure company Green Landscaping Group in acquiring Lithuanian-based company Stebulė.
Stebulė, founded in 1993, is the largest company in maintenance of outdoor environments in Lithuania. It provides services for urban road and street maintenance, green space maintenance, arborist services, flower planting, and forest park and cemetery maintenance. The company, which had a turnover of EUR 12.7 million in 2021, employs more than 330 employees.
Stepping out into the Baltics
With this acquisition, Green Landscaping Group, listed on Nasdaq Stockholm, has entered the Baltics. This step is in accordance with its strategy of expansion in Europe by acquiring the best local contractors, focusing on decentralised governance and entrepreneurship.
Johan Nordström, CEO of Green Landscaping Group says: “We are happy to welcome Stebule’s owners and employees to Green Landscaping Group. Stebule is a company that delivers services with very high quality, strong customer focus and good profitability. In recent years, the company has increased its market share in Vilnius, which is proof that the company’s strategy is successful. In my eyes, Stebule is a good first company in a new geography.”
Green Landscaping Group works with outdoor environments and infrastructure. The company has approximately 1,600 employees and its turnover is approximately EUR 291 million.
Our services and team
We assisted the client on all transaction-related matters, including legal due diligence, negotiations regarding the share purchase agreement, signing the share purchase agreement and closing the deal. Our team, led by partner Algirdas Pekšys, consisted of counsel Raminta Karlonaitė-Durnan, senior associates Aurelija Daubaraitė and Žilvinas Briedis, as well as associates Emilė Navickaitė, Goda Jakubauskaitė, Izabelė Petrikaitė, Jurgita Mikučionienė ir Simonas Šlitas.