Risto Vahimets
Partner
+372 640 7170
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Risto Vahimets is one of Estonia’s most experienced and renowned M&A practitioners, focusing on financial services, retail, restructuring as well as distressed advisory. He also has an excellent understanding of finance and company valuation. Thanks to his long-term experience, Risto has an excellent eye for detecting what is valuable and what is not in a company to be acquired.
Risto has worked in the Baltic M&A scene for over 20 years. His previous position was as the M&A team leader at law firm Tark Grunte Sutkiene. As he has an interest in management, Risto holds or has held positions on the board level in leading retail, wholesale, food production, finance and medical companies. He has begun consulting these companies on acquisition and restructuring strategies and during the time it has evolved in more strategic involvement.
Risto has worked in the Baltic M&A scene for over 20 years. His previous position was as the M&A team leader at law firm Tark Grunte Sutkiene. As he has an interest in management, Risto holds or has held positions on the board level in leading retail, wholesale, food production, finance and medical companies. He has begun consulting these companies on acquisition and restructuring strategies and during the time it has evolved in more strategic involvement.
Risto has closed hundreds of deals in various sectors, such as financial services, energy, logistics, infrastructure, electronics, agriculture, real estate, telecoms, and retail.
Risto Vahimets
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Advising major Chinese company Guangzhou Hangxin Aviation Technology Co. Ltd on the acquisition of Estonian company of the year Magnetic MRO
This is one of the largest investments into Estonia by a Chinese company of all times
This is one of the largest investments into Estonia by a Chinese company of all times
Advising Harju Elekter AS on the acquisition of Tnåa AB’s companies SEBAB AB and Grytek AB
Advising Starman and East Capital on the sale of Starman
Advising international investment platform TPG Special Situation Partners on granting a 65-million-euro loan to Pro Kapital
Advising Jaakson & Ko AS on the sale of shares of Jaaksoni Linnahoolduse OÜ
Advising Swedbank AS on the acquisition of the last 40% of shares in Hansapank
Restructuring of Sportland and strategic management of the company as member of the supervisory board
News
We advised the sale of ABC Supermarkets to Selver
On Friday, May 29, the sale of ABC Supermarkets to Selver was completed. The deal added 16 Comarket stores in Harju, Pärnu and Tartu counties, Delice grocery stores in Viimsi and Pärnu and the Solaris Center grocery store in Tallinn to the Selver chain. Thus, Selver now owns a total of 72 stores.
ABC Group, which was the sole shareholder of ABC Supermarkets AS until now, is one of the largest groups of companies based on Estonian capital, which will focus hereafter on the sale and maintenance of cars and the wholesale of food and consumer goods.
Selver is a chain of supermarkets and hypermarkets operating in Estonia, established in 1995.
“The merger of Selver and Comarket is an important step for the future of Estonian retail. With the synergy of valuable experience and successes of both chains, we will further strengthen trade based on domestic capital through dedicated customer service and valuing the goods of Estonian local producers,” says Kristi Lomp, Member of the Management Board of Selver AS.
ABC Groupi AS was advised on the sale by Ellex Raidla's partner Risto Vahimets, and on competition law matters by senior associate Martin Mäesalu.
Read more about the deal here.
Ellex Raidla the Estonian Counsel to Marrone Bio Innovations in the Acquisition of Pro Farm Technologies
Ellex Raidla, as the Estonian Counsel to the project, represented Marrone Bio Innovations, Inc., an international leader in sustainable bioprotection and plant health solutions, in its acquisition of Pro Farm Technologies Oy, a Finnish agriculture technology company supplying nutrient and biostimulant technology and products. The cash and stock transaction valued Pro Farm Technologies at USD 31.8 million. Pro Farm Technologies Oy is the parent company of the Estonian company Pro Farm OÜ.
Advice was provided in collaboration with Hannes Snellman law firm. From our side the project was handled by partner Risto Vahimets, senior associates Karl-Erich Trisberg, Kaisa Laidvee and Reet Saks as well as counsels Dmitri Rozenblat and Eneken Tikk.
Read more HERE.
We advise Veho on the acquisition of Silberauto
We advise Veho on its acquisition of Silberauto, an Estonian importer and retailer of Mercedes-Benz vehicles in Estonia and Lithuania, from Mr Väino Kaldoja.
Veho, founded in 1939, is a leading Finnish car import and retail company with operations in Finland, Sweden and Baltics. Veho's operations comprise versatile transportation services and solutions from passenger cars to heavy-duty vehicles. In 2018, Veho's turnover was approximately EUR 1.2 billion.
Silberauto acts in the Estonian and Lithuanian market and, in addition to importing and retailing of Mercedes-Benz vehicles, its operations comprise import and retail of Mitsubishi, Maserati and Jeep vehicles. In 2018, Silberauto's turnover was approximately EUR 387 million and it had more than 500 employees.
Completion of the transaction is subject to customary closing conditions.
Veho was advised by Ellex’ Partner Risto Vahimets and Senior Associate Karl-Erich Trisberg in Estonia and Partner Paulius Gruodis, Senior Associate Mantas Juška and Associate Arvydas Grušeckas in Lithuania.
Advising Magnetic MRO AS’ issue of new shares
Ellex Raidla advises the issue of new shares by Magnetic MRO AS to raise additional capital by up to 8.95 million euros.
“Magnetic MRO has total 11 different business units. Some of them are more focused on profitability and others are more driven towards fast growth. A significant part of the equity injection will be allocated into fuelling organic growth in our growing business units,“ commented Risto Mäeots, the CEO of Magnetic MRO.
Our team consists of Partner Risto Vahimets and Senior Associate Karl-Erich Trisberg, in regulatory matters the project is advised by Senior Associate Helen Ratso.
Read more HERE.
Ellex Raidla Counsel to Fazer Group in its Divestment of Fazer Food Services
Ellex Raidla acts as counsel to Fazer Group in its divestment of Fazer Food Services to Compass Group PLC in respect of the sale of Fazer Food OÜ, an Estonian private limited liability company. The transaction is subject to EU Commission competition approval. Fazer Food Services is a premier food service provider in the Nordics, with approximately 1,000 restaurants and 7,000 employees in Finland, Sweden, Denmark, Norway and Estonia. Compass Group PLC is a leading global food service provider, operating in around 50 countries with more than 550,000 employees.
The transaction has been agreed for an enterprise value of approximately EUR 475 million, excluding closing balance sheet adjustments and earn-out upside potential.
The lead counsel of the transaction is Hannes Snellman.
Ellex Raidla team was led by Partner Risto Vahimets and Senior Associate Karl-Erich Trisberg. Senior Associate Martin Mäesalu advised on competition law matters and Associate Anna Trine Raudsepp on corporate law matters.
Read more HERE.
We advised Amserv Grupp on the sale of Ascar Auto
Amserv Grupi AS sold its subsidiary Ascar Auto AS to Autospirit AS and will focus on developing the volume of sales, market share and customer service of Toyota and Lexus.
Amserv Group is one of the biggest sellers of new and used cars and car service companies in the Baltics. Before the sale the firm had the right of representation for five brands (Toyota, Lexus, Opel, Chevrolet, Saab, Hyundai and Peugeot). Amserv employed over 400 employees in Estonia and Latvia, and has 11 sales and service centres located in Tallinn, Pärnu, Tartu, Paide, Viljandi and Riga. All centres sell new and used cars, spare parts and offer maintenance services.
The Ellex Raidla’s team consisted of Partner Risto Vahimets, Senior Associate Alla Kuznetsova and Associate Anna Trine Raudsepp.
We advised Tahe Outdoors OU on the acquisition of the French company BIC Sport
The Estonian manufacturer of watersports equipment Tahe Outdoors OU is continuing its international expansion and bought BIC Sport, the watersports subsidiary of the French BIC group, for 6 to 9 mln euros.
This transaction will lead to the creation of a new and dynamic worldwide player, with unique industrial technologies across a wide range of products and an international network of specialist retailers. BIC Sport’s products will continue to be manufactured and sold under license, together with the SIC & OXBOW Brands.
Founded in 1979, BIC Sport pioneered the windsurf industry and progressively diversified its activities to include surfing, kayaking, junior racing dinghies and stand-up paddleboarding. Headquartered in Vannes, France, BIC Sport sells its products in more than 90 countries.
Tahe Outdoors is one of the most successful and dynamic European manufacturers of paddle sports and kitesurf products, with strong brands such as Tahe Marine, Core, Zegul, Egalis... Founded in 1989, based in Estonia, Tahe Outdoors is distributed in more than 50 countries with products manufactured in France, Germany & Estonia.
The transaction was advised by Ellex Raidla’s Partner Risto Vahimets, Senior Associate Karl-Erich Trisberg and Associate Anna Trine Raudsepp.
A consortium advised by Ellex Raidla and Linklaters invests in Sportradar
Ellex Raidla team together with Linklaters as lead counsel advised a consortium of investors, consisting of Canada Pension Plan Investment Board (CPPIB) and U.S. growth equity firm TCV, on the acquisition of a significant stake in Sportradar AG.
CPPIB, through its wholly owned subsidiary, CPP Investment Board Europe S.à r.l., and TCV will together acquire a stake in Sportradar at an enterprise value of EUR 2.1Bn (~USD 2.4Bn.) from private equity firm EQT and certain minority shareholders. Carsten Koerl, founder, majority shareholder and CEO, will retain his entire ownership position in Sportradar. EQT will also reinvest a portion of its sale proceeds into Sportradar.
Headquartered in St. Gallen (Switzerland), Sportradar is the global leader in the provision of sports data. The company provides leagues, news media, consumer platforms and sports betting operators with data. It is an official partner of the NBA, NFL, NHL and NASCAR, as well as FIFA and UEFA.
Canada Pension Plan Investment Board is an investment management organisation, headquartered in Toronto (Canada), that manages and invests funds on behalf of 20 million contributors to and beneficiaries of the Canada Pension Plan (CPP).
Founded in 1995, TCV provides capital to growth-stage private and public companies in the technology industry. The firm has invested more than 10 billion U.S. dollars in leading technology enterprises and has assisted in over 115 IPOs and strategic acquisitions. TCV currently has invested over 1 billion U.S. dollars in Europe.
From Ellex Raidla Partner Risto Vahimets, Senior Associate Karl-Erich Trisberg and lawyer Anna Trine Raudsepp advised on the transaction.
Ellex advised Daimler on its investment in Taxify
Ellex has advised Daimler AG on an investment in Taxify. Daimler, whose mobility services portfolio includes Mytaxi and other ride-hailing services such as Clever Taxi and Taxibeat, now also holds an interest in ride-hailing provider Taxify. Taxify operates predominantly in Central and Eastern Europe and in Africa. Chinese ride-hailing platform Didi Chuxing already acquired an interest in Taxify in 2017. With its investment in Taxify, Daimler is significantly expanding its ride-hailing portfolio. To date, Taxify has provided transport to more than 10 million passengers with more than 500,000 registered drivers.
The Ellex team included partner Risto Vahimets, senior associate Karl-Erich Trisberg and lawyer Anna Trine Raudsepp. The lead counsel of the transaction was Noerr LLP.
Ellex advised Union Tank Eckstein in relation to the acquisition of the shares of Polish company Timex Card
Ellex advised Union Tank Eckstein (UTA) in relation to its acquisition of 51% of the shares of Polish company Timex Card SP. z o.o., the largest acquisition in the history of UTA.
The purchase of the shares enables UTA to expand its presence in Central and Eastern Europe and to efficiently promote the development of its products in this highly dynamic growth region. Poland, one of the leading international transport markets, and the Baltic states make up almost 35 percent of the European cabotage market (with regard to tons per kilometre).
UTA is one of the leading providers of fuel and service cards in Europe and its main shareholder is Edenred, a company listed on the Euronext Paris Stock Exchange.
The Ellex Raidla team in Estonia included Partner Risto Vahimets and Senior Associate Karl-Erich Trisberg. The Ellex Klavins team in Latvia was led by Partner Zinta Jansons. The Ellex Valiunas team in Lithuania included Senior Associate Lina Žolynė and Associate Nerijus Patlabys. UTA’s lead counsel of this project in Poland was Noerr LLP.
Ellex advises Chinese company on the acquisition of Magnetic MRO
Ellex advises China's Guangzhou Hangxin Aviation Technology on the acquisition of a full-service aircraft maintenance company Magnetic MRO.
Hangxin acquires 100 percent of shares in Magnetic MRO for €43 million. This is one of the largest investments made by the Chinese in the past years in Estonia.
Based in Guangzhou, Guangdong Province, China, Guangzhou Hangxin Aviation Technology is a privately-owned company providing aircraft component maintenance services. Hangxin services components for over 20 aircraft types and serves over 50 airlines in Asia, Middle East, Europe and North America. Hangxin is listed on Shenzhen Stock Exchange and has a market capitalization over 700 million euros.
Magnetic MRO is a European Aviation Safety Agency (EASA) and Federal Aviation Administration (FAA) certified total technical care and asset management organization offering integrated MRO services. In 2017, Magnetic MRO was titled Estonia's Company of the Year as well as Exporter of the Year.
Ellex Raidla Partner Risto Vahimets and Senior Associate Karl- Erich Trisberg say that the acquisition of Magnetic MRO by Guangzhou Hangxin Aviation Technology is one more example the Chinese interest in this region is growing rapidly.
The client is advised by Partner Risto Vahimets, Senior Associate Karl-Erich Trisberg and Lawyer Anna Trine Raudsepp in Estonia and Associate Partner Robertas Čiočys in Lithuania.
Read more HERE.
We advised Harju Elekter on purchasing a Swedish engineering company
Ellex Raidla advised Harju Elekter in the purchase of Swedish sales and technical solutions company SEBAB AB and manufacturer of pre-fabricated technical buildings Grytek AB from Tnåa AB.
Harju Elekter paid 3.6 million euro for the two companies (SEK 36.0 million). The acquired companies will initially continue to use their name and trademarks, operating as full subsidiaries of the group.
Harju Elekter Group has been active on the Swedish market since 2010 delivering substations and industrial automation solutions to Swedish customers.
As a result of this transaction, the Estonian stock company will enter new markets and expand its product portfolio. Concurrently, Harju Elekter Group’s capability to offer its Swedish clients more complete technical solutions and turn-key projects as well as service support will increase
Harju Elekter Group’s plants in Estonia, Finland and Lithuania employ more than 600 specialists, and the Group’s 9 months 2017 revenue amounted 74 million euros. Harju Elekter’s shares are listed on Nasdaq Tallinn.
Harju Elekter was advised by Ellex Raidla partner Risto Vahimets.
Ellex Raidla advised Harju Elekter AS with purchasing a majority holding in Energo Veritas OÜ
AS Harju Elekter purchased an 80.5% holding in Energo Veritas OÜ, a company trading in electrical materials and equipment. The transaction was completed on at 29 March 2017, when monetary settlements were also made.
With the purchase of Energo Veritas OÜ and establishment of a trade unit operating as a subsidiary of the Group, the Group increases its market share in Estonia, notably expands its offered product range, and creates prerequisites for boosting the sale of the Group’s products in Estonia and the Baltic states. The company focuses primarily on project-based trading activity.
After launching its activities in 1968, Harju Elekter Group has developed into a leading producer of MV/LV electrical and engineering devices in the Baltic countries and a known and respected manufacturer in Scandinavia. Harju Elekter’s main field of business is the development, manufacturing and sale of equipment necessary for the distribution and transmission of electric energy. The main business is supported by a sheet metal plant in Estonia and the development and leasing of industrial real estate. Harju Elekter Group’s plants in Estonia, Finland and Lithuania employ more than 500 specialists, and the annual sales revenue of the Group exceeds 60 million euros. Shares of Harju Elekter are listed on Nasdaq Tallinn.
The client was advised by Ellex Raidla partner Risto Vahimets and lawyer Anna Trine Raudsepp.
We advise East Capital in the sale of shareholding in Trev-2 Grupp
Baltcap Private Equity Fund intends to acquire East Capital Explorer's 38.3% shareholding in Trev-2 Grupp, a company focused on the construction and maintenance of infrastructure, which Infortar initially intended to acquire.
The major shareholders of Trev-2 Grupp are investment funds East Capital Explorer with a 38% shareholding and Baltcap Private Equity Fund with a 36% shareholding. East Capital Explorer estimated the fair value of Trev-2 Grupp in their portfolio to be 6.2 million euros.
East Capital are advised by Ellex Raidla partner Risto Vahimets, counsel Tõnis Vahesaar and attorney Sven Böttcher.
We advised Aeroc International AS with the acquisition of VKG Plokk OÜ
Ellex Raidla team advised Aeroc International AS with the acquisition of VKG Plokk OÜ—a transaction that contributed to the enlargement of an Estonian capital based producer of construction materials in the domestic market.
VKG Plokk produces aerated concrete blocks and sells their products in Estonia and exports abroad under the Roclite trademark.
Member of the management board of Aeroc International AS Ivar Sikk said that the acquisition of the business is an important step in implementing the company’s strategy that will enable to increase competitiveness on the Baltic block market.
“We will use the potential of the VKG Plokk factory to increase our production efficiency and extend production volumes, continuing the production and sales of aerated concrete products under the Roclite trademark. With this transaction, Aeroc International AS reinforces its position as the largest producer of aerated concrete blocks in northern Europe,” added Sikk.
The transaction was advised by partner Risto Vahimets, senior associate Karl-Erich Trisberg and lawyer Anna Trine Raudsepp.
We advised Starman and East Capital Explorer in the sale of Starman shares
Ellex Raidla team advised East Capital Explorer in the transaction where Polaris Invest, owned by Indrek Kuivallik, purchased the shareholding of Starman from East Capital Explorer and became the only shareholder together with current co-shareholder Com Holding.
The loan for the transaction was granted by the telecommunication company Elisa whose aim is to become the owner of Starman’s Estonian business unit. Starman group is planning to divide the business units of the two countries in the first quarter of 2017. Polaris Invest and Com Holding will remain the owners of the Lithuanian unit. Until the Estonian and Lithuanian units are divided, Starman group will continue work with the new owners and current management.
The Ellex Raidla team included partners Risto Vahimets, Toomas Vaher, senior associate Gerda Liik and associate Maria Teder. Our partner Sven Papp advised Starman.
We advised the management of Infotark in a management buyout transaction
Ellex Raidla team advised the management of Infotark in buying shares as a result of which they became the majority shareholder of the company. We gave advice on the purchase of shares and funding it.
We advised Canadian listed company Carmanah Cybernetica in the purchase of a navigation systems business
Ellex Raidla advised Canadian listed company Carmanah Cybernetica in the acquisition of a product portfolio and client agreement of navigation systems business, including those under the EKTA trademark.
According to chair of the management board of Cybernetica Oliver Väärtnõu, the transaction is a recognition of the entire electronics industry in Estonia. "Carmanah is a company with a global reach and a market leader in the Nordic countries in its field."
The transaction closes in December this year according to the transaction regulations of Toronto Stock Exchange, the total value of the transaction is 1.35 million euros.
Carmanah is a Canadian listed company that develops and supplies energy efficient LED solutions. The company has operated since 1996 and is in the global forefront as a provider of reliable and efficient industrial solutions. The three main activity fields of the company are signal fires, lighting and energy.
Ellex Raidla advised TPG Special Situation Partners with granting a loan to Pro Kapital
Ellex Raidla advised international Financing Platform TPG Special Situation Partners with granting a 65 million euro loan to Pro Kapital.
The financing agreement ensure full funding for the T1 -shopping and entertainment center. The shopping center will be opened in autumn 2018.
The team at Ellex Raidla included the partner Risto Vahimets and Alla Kuznetsova.
We advised Assistor Oy Ab, a Veho Group company in the sale of Assistor AS
Ellex Raidla advised Assistor Oy Ab, a Veho Group company, in the sale of 100% shareholding in its Estonian subsidiary Assistor AS to Autolink Baltics AS.
Assistor is one of the leading Finnish automotive logistics companies, specializing in vehicle and spare part deliveries. Assistor was founded in 1966 in Hanko to support the import of Mercedes-Benz. Today Assistor co-operates with more than 20 top car brands in six different locations.
Ellex Raidla advised the client in all transaction related matters. The client was advised by partner Risto Vahimets and senior associate Karl-Erich Trisberg.
Advised Fifaa AS in the acquisition of River Island shops in Estonia
Ellex Raidla advised Fifaa AS the acquisition of British famous fashion brand River Island shops in Estonia from RIFF OÜ. River Island has over 300 stores in Great Britain, Ireland, Russia, Netherlands, Poland, Belgium as well as in Middle East.
Ellex Raidla advised the client in all stages of the project including drafting the contracts and drafted the notice of the concentration.
The client was advised by a team consisting of partner Risto Vahimets and senior associate Martin Mäesalu.
AS FIFAA is an enterprise founded in 1993 that specializes in company clothing and commercial gift sales. Today they have grown into a leading marketing partner for thousands of companies. AS FIFAA is an official importer for known brands such as Skechers, Dune London, Russell, Fruit Of The Loom, Spalding, Jako, Peak and And1. In addition to wholesales, they are lead store chains for Skechers, Dune London and T-Shirt Store with 40 stores in Estonia, Latvia and Lithuania.
Advised Jaakson & Ko AS in the sale of shares of Jaaksoni Linnahoolduse OÜ
Ellex Raidla advised Jaakson & Ko OÜ in the sale of 100% of shares of Jaaksoni Linnahoolduse OÜ to Eesti Keskkonnateenused AS.
Ellex Raidla advised the client in all transaction related matters. The team was led by partner Risto Vahimets.
OÜ Jaaksoni Linnahooldus is a company that provides services related to road maintenance works, street cleaning, planting of greenery and also waste management. Invisible to townfolks Jaaksoni Linnahooldus keeps clean substantial part of streets in Tallinn!
AS Eesti Keskkonnateenused is one of the biggest companies providing waste management services all over Estonia.
We advised Altor Fund in the acquisition of Realia Group
Ellex Raidla together with Ellex Klavins and Ellex Valiunas advised Altor, the Nordic private equity fund, in the acquisition of Realia Group. Realia Group is the largest service provider in real estate management and brokerage services in the Nordic countries and is also a parent company of Ober Haus that is one of the oldest real-estate estate mediation and valuation company in the Baltics.
The purchase agreement was signed on June 1, 2016, but will require an approval from the Finnish Competition and Consumer Authority, and it is expected to be completed by the end of June. The transaction value will not be disclosed.
Ellex Raidla advised the client on legal due diligence as well on other transaction related matters.
Altor omandab kinnisvaraettevõtte Ober-Haus emafirma
Uus omanik muudab Realia Group´i veelgi tugevamaks
Uus omanik muudab Realia Group´i veelgi tugevamaks
Education
The University of Connecticut School of Law
Master of Laws (LL.M.)
Master of Laws (LL.M.)
University of Tartu, Estonia
Bachelor of Laws (LL.B.), cum laude
Bachelor of Laws (LL.B.), cum laude
Memberships
2000–...
International Bar Association (IBA)
Member
Member
2000–…
Academy of American and International Law
Member
Member
1996–…
Estonian Bar Association
Member
Member