TGS Baltic assists AS Eco Baltia, the largest environmental resource management and recycling company in the Baltics, with its plan to acquire SIA Eko Osta. The target is Latvia’s leading company in collection and recycling of environmentally harmful and hazardous waste, thereby expanding the company’s activities and range of environmental services. AS Eco Baltia group and the shareholders of SIA Eko Osta concluded the purchase agreement concerning the acquisition of 100% of the shares in SIA Eko Osta, the closing of which required merger authorisation from the Latvian Competition Council.
Upon closing of the transaction, SIA Eko Osta will become one of the companies in the environmental management sector of AS Eco Baltia group specialising in the management of hazardous and environmentally harmful waste. At the same time, no changes are planned to the existing cooperation agreements and arrangements for both parties’ clients, partners and employees.
The company will be acquired through AS Eco Baltia subsidiary SIA Latvijas Zaļais punkts.
TGS Baltic ensured AS Eco Baltia group full transactional support, including due diligence, transaction documents, regulatory issues, and clearances.
Andra Rubene (Corporate and M&A), Anna Vaivade (Corporate and M&A), Rūdolfs Vilsons (Corporate and M&A, Tax), Vladlena Rudusāne (Regulatory and Competition), Toms Tīdemanis (Employment), Evija Ābele (Corporate and M&A) and Elīza Siliņa (Regulatory and Competition) provided AS Eco Baltia with all the necessary legal support to enable the transaction.
For more information, please visit:
https://view.news.eu.nasdaq.com/view?id=b40e95f8d08e559a2c997294443841a7d&lang=en
About AS Eco Baltia
AS Eco Baltia group is the largest environmental and waste management group in the Baltics, providing full-cycle waste management solutions from waste collection and sorting to secondary raw material logistics, wholesale and raw material processing, and PET and PE/PP plastics recycling.
AS Eco Baltia group has closed 2022 with its historically highest consolidated turnover of EUR 210 million, representing a 75% increase compared to 2021. Total combined sales revenue (pro forma) in 2022 amounted to 240.5 million euros.
The group companies employ around 2,300 employees in Latvia, Lithuania, and Czech Republic. Its leading companies are PET Baltija, Eco Baltia vide, Latvijas Zaļais punkts, Nordic Plast, JUMIS, Pilsētas Eko Serviss, Czech TESIL Fibres and Lithuania-based Ecoservice. In November 2023, in 55%/45% partnership with INVL Baltic Sea Growth Fund, the group completed the acquisition of a 70% stake in Metal-Plast, Poland’s largest recycler of PVC window and door profiles.
Shareholders of AS Eco Baltia are private equity fund INVL Baltic Sea Growth Fund (52.81%), the European Bank for the Reconstruction and Development (30.51%) and Māris Simanovičs (16.68%).
About SIA Eko Osta:
SIA Eko Osta is a waste manager and recycler of environmentally harmful and hazardous waste. The company was registered in 1999, and its service portfolio consists of the collection, transportation (floating vehicles, land vehicles), treatment and recycling of petroleum-contaminated waters and soil, recycled lubricating oils, organic solvents, collection and transportation of used tyres, geological, hydrogeological, geoecological and geotechnical surveys and other services.
