Sorainen has advised the Green Landscaping Group on its acquisition of Stebule from Stanislovas Tamulevicius. Glimstedt reportedly advised Tamulevicius on the sale.
Stebule, founded in 1993, is the largest company in the maintenance of outdoor environments in Lithuania, according to Sorainen. “It provides services in urban road and street maintenance, green space maintenance, arborist services, flower planting, and forest park and cemetery maintenance. The company, with a EUR 12.7 million turnover in 2021, employs more than 330 employees.”
The Green Landscaping Group is a Scandinavian outdoor environment and infrastructure company. According to Sorainen, “with this acquisition, the Green Landscaping Group, listed on Nasdaq Stockholm, enters the Baltics. This step is in accordance with the strategy of expansion in Europe by acquiring the best local contractors, focusing on decentralized governance and entrepreneurship.”
“We are happy to welcome Stebule’s owners and employees to the Green Landscaping Group,” commented Green Landscaping Group CEO Johan Nordstrom. “Stebule is a company that delivers services with very high quality, strong customer focus, and good profitability. In recent years, the company has increased its market share in Vilnius, which is proof that the company’s strategy is successful. In my eyes, Stebule is a good first company in a new geography.”
Sorainen’s team included Partner Algirdas Peksys, Counsel Raminta Karlonaite-Durnan, Senior Associates Aurelija Daubaraite and Zilvinas Briedis, and Associates Emile Navickaite, Goda Jakubauskaite, Izabele Petrikaite, Jurgita Mikucioniene, and Simonas Slitas.