Sorainen advises Eurovia, a subsidiary of VINCI, on its acquisition of a 75% stake in leading Estonian infrastructure construction company TREV2 Grupp from BaltCap, a major dedicated private equity and venture capital investor in the Baltic States. The indicative closing date is planned at the end of June after all regulatory requirements and other closing conditions have been fulfilled.
“Eurovia has been present in Lithuania since 1994 and in Latvia since 2017. We are very pleased to extend our business to Estonia,” affirmed Xavier Neuschwander, Chief Executive Officer of Eurovia Europe, Rail and Specialities. “We were impressed by the professionalism and energy of the TREV-2 team and are looking forward to successful co-operation.”
Commented Sven Pertens, CEO of TREV-2: “We welcome Eurovia to Estonia. Globally, Eurovia has been at the forefront of innovation in infrastructure construction. It is a good match for our aspirations to be the best in engineering and technical development.”
TREV-2 Grupp is a notable infrastructure construction company in Estonia with history and experience dating back to the 1960s. The company’s main activities are road construction and maintenance, environmental construction, mining, and traffic management. In 2017, company turnover exceeded 70 million euro and the company has 360 employees. TREV-2 achieved recognition from the Estonian Road Administration for the smoothest road in Estonia in 2017.
Eurovia, a subsidiary of VINCI, is one of the world’s main transport infrastructure construction and urban development companies. Eurovia builds roads, motorways, railways, airports and light rail systems, and helps develop industrial, retail and urban sites. The company provides a full range of related expertise: demolition and deconstruction, drainage, earthworks, mains services, road signs, road marking, engineering structures and noise barriers. Thanks to its network of industrial facilities producing aggregates and materials for road and railway construction, Eurovia covers the entire supply chain. Operating in 15 countries, the company employs almost 40, 500 people and in 2017 generated revenue of EUR 8.1 billion.
Sorainen advised Eurovia throughout the transaction, including preliminary discussions, due diligence, transaction negotiations and merger clearance. The Sorainen team was led by partner Toomas Prangli and senior associate Kai Vainola.