Oaklins nominated as the Baltics M&A Financial Adviser of the Year 2023
For the fourth consecutive year Mergermarket, the global leader in M&A intelligence, has shortlisted Oaklins as the Baltics M&A Financial Adviser of the Year in its annual Mergermarket's European M&A Awards 2023. This nomination recognizes excellence in M&A advisory and the ability to maintain a steady flow of deals amid a continuous geopolitical turmoil.
Regardless of continuously unpredictable and fraught market conditions due to geopolitical situation, Oaklins Baltics has successfully closed a steady flow of considerable deals. We are delighted that Mergermarket has recognized these transactions, which not only indicates Oaklins Baltics’ ability to persevere and adjust to an uncertain market environment, but also highlights the increase in investors’ ESG-focus.
In one of the most notable Oaklins Baltics transactions this year the Oaklins’ team in Lithuania acted as a full-scope sell-side M&A advisor to Bagfactory, a manufacturer of non-woven carrier bags. The company produces lightweight bags from recycled materials that are long-lasting and can be reused and, at the end of their lifetime, can be easily collected and recycled using the available municipal recycling points. A majority stake was acquired by Livonia Partners, a pan-Baltic private equity fund. A strong competition between bidders – various private equity funds took place, and the company’s valuation was boosted by it meeting the funds’ ESG criteria.
Another noteworthy transaction was Piletilevi Group’s acquisition of 80% of GoOut, the full-service ticketing, marketing and event management platform for event organizers and cultural venues, powering cultural life in four Central European countries - the Czech Republic, Poland, Slovakia, and Germany. Oaklins’ team in Estonia participated in this cross-border deal with our Czech colleagues at WOOD & Co, who were leading the sell-side of the process on behalf of GoOut. The bidding process was competitive, with the company receiving a high evaluation with a double-digit EBITDA multiple.
Vertikali Medija, the second largest player in the online classified industry in Lithuania, was sold to the PE-backed Horizontal Media, a classified holding funded by LitCapital. Vertikali Medija operates two platforms, one for cars (autogidas.lt) and one for properties (domoplius.lt). These are primarily B2C listings for customers selling cars and properties. In the transaction Oaklins Lithuanian team represented the sell-side.
This year we have advised on several cross-border transactions, one of which was the acquisition of A Nossa Aposta from Cofina by TonyBet, where Oaklins’ team in Latvia represented the buy-side in close collaboration with our Portuguese colleagues. The seller is one of the leading players in the Portuguese media segment, and the process took place fully remotely.
Another cross-border transaction was Oaklins’ first successful buy-side advisory transaction in Cyprus, of local fintech company ORO PAY, a fast-growing Electronic Money Institution (EMI), which offers secure and convenient payment solutions licensed by the Central Bank of Cyprus. In this transaction Oaklins team in Latvia served as the exclusive advisers to the buyer - a group of private investors. The successful acquisition of ORO PAY initiated Oaklins' commitment to facilitating strategic transactions in Cyprus that drive growth and innovation within the financial sector and marked the start of a collaboration between Oaklins Baltics and new partners in Cyprus.
In another successful deal Voog, a premium website-building platform was acquired by TextMagic, an international business text messaging company listed on Nasdaq Tallinn First North Baltic Share List, with Oaklins’ team in Estonia acting as a buy-side advisor in the transaction.