We advised Hexatronic, a Swedish industrial group, on the acquisition of Estonia-based Baltronic and Canada-based Toronics, acting as local advisors through Advokatfirman Vinge, one of the largest law firms in Sweden.
Strong presence in the Baltics as a result of the transaction
Baltronic and Toronics supply and assembly fibre optic products with a focus on wireless and FTTH solutions. The production unit was established in Estonia in 2001 and is the largest fibre optic termination house in the Baltics where standard and customised products are assembled.
The selling shareholder of Baltronic Group and Toronics is the founder and chairman who will continue in the Hexatronic Group with continued focus on developing the business in Canada.
Says Henrik Larsson Lyon, CEO of Hexatronic Group: “Baltronic Group and Toronics have been trusted partners for many years and we are very pleased to welcome the team to the Hexatronic Group. This acquisition will bring us a strong presence in the Baltics, skills and expertise in wireless network solutions where they have long experience and gain us a footprint in the Canadian FTTH-market as part of our North American growth strategy. Baltronic’s production facility will also increase our production capacity in Europe and bring us closer to a number of important markets and thereby increase our competitiveness”.
Our services and project team
We advised Hexatronic in all major stages of the transaction, including legal, tax and anti-corruption due diligence and transaction advice on Estonian, Latvian and Lithuanian laws.
Our project team was led by partners Piret Jesse, Paul Künnap, Algirdas Pekšys and Jānis Taukačs. The client team also included counsels Norman Aas, Andis Burkevics and Darius Raulušaitis, senior associates Kaido Künnapas, Piret Lappert, Lise-Lotte Lääne, Renāte Purvinska, Britta Retel, Agita Sprūde, Natālija Šestakova and Robin Teever along with associates Līva Aleksejeva, Juliana Pavilovska and Nele Suurmets.