Sorainen has advised the shareholders of Kurekss on the sale of the company and its subsidiary Kurzemes Granulas to HS Timber Group. Cobalt advised HS Timber Group.
Kurekss is a Latvian sawmill. Kurzemes Granulas is a wood pellet producer.
HS Timber Group is an Austria-based wood processing company.
According to Sorainen, established in 1995, Kurekss employs around 150 people and operates one of the largest sawmills in Latvia, with an annual capacity of 250,000 cubic meters of kiln-dried sawn timber. The sawmill is located near the ice-free port of Ventspils, surrounded by some of the country’s most extensive forest areas. Its subsidiary, Kurzemes granulas, has been producing approximately 70,000 tonnes of wood pellets per year since 2005.
The Sorainen team included Partner Nauris Grigals, Senior Associates Ieva Pruse and Marika Grunte, and Associates Alise Igale and Kate Berlaua.
The Cobalt team included Partner Ugis Zeltins and Senior Associates Ivo Maskalans and Kristine Ravina.
