Cobalt has advised Nordomatic on its acquisition of Echoo Group from ZGI-4 Fund and GK Capital. Ellex advised the sellers.
Nordomatic is an independent provider of building management systems.
Echoo Group is a Latvia-based automation, electrical, and building management solutions supplier and provider.
According to Cobalt, the deal marks Nordomatic's strategic entry into the Baltic market and supports its regional expansion amid rising demand for energy- and operations-efficiency solutions in buildings. By adding Echoo's engineering capabilities and local footprint, Nordomatic strengthens its platform for the development of smart-building initiatives across the Baltics.
The Cobalt team included Partner Guntars Zile, Specialist Counsel Liga Fjodorova, Senior Associates Diana Zepa, Inga Tenisa, Agnese Gerharde, Ivo Maskalans, Kristine Ravina, and Arturs Valdersteins, and Associates Vadims Zvicevics and Toms Dreika.
The Ellex team included Partner Sarmis Spilbergs and Senior Associates Evija Abele and Kaspars Olsevskis.
