Cobalt has advised Combiwood Grupp on its acquisition of Toftan from its existing shareholders Mattsbo Sag, Wigert Invest, Lars Lindgren Invest, Marnefeldt Invest, Investyno, Martin Arula, Jaanus Lehes, and Merli Randoja. Eversheds Sutherland and Vinge reportedly advised the sellers.
The transaction remains contingent on regulatory approval.
Combiwood Grupp is an Estonian vertically integrated wood industry company operating a group of 12 companies across the country. According to Cobalt, the acquisition of Toftan, a profitable and technologically advanced wood processing company based in Southern Estonia, will further strengthen Combiwood’s operational footprint and complement its sustainable growth strategy. Post-acquisition, Combiwood will have total revenues of approximately EUR 276 million and a workforce of around 990 employees. Toftan will continue to operate under its existing name and brand.
The Cobalt team included Partner Peeter Kutman, Managing Associate Mart Blondal, Senior Associate Liina Saaremets, and Junior Associate Ken Saksniit.
