Mergers & Acquisitions

Whether you’re entering new markets, restructuring, or accelerating growth, we work closely with you to manage risk, protect value, and deliver with confidence, as the top M&A choice in the Baltics.

From advising major international funds to supporting the largest transactions in the Baltics, our team is trusted to handle high-value, high-complexity deals.

Whether working on cross-border acquisitions, carve-outs, or strategic investments, we bring commercial focus and cross-disciplinary insight to every stage, helping clients move forward with clarity, confidence, and results.

We’ve been recognised for standout deals and ranked among the top firms in the Baltics by Chambers Europe, IFLR1000, Legal 500, and CEE Legal Matters – a reflection of the results we deliver.

Whether in tech, energy, real estate, or finance, our interdisciplinary approach draws on expertise from across our practice areas – including Employment, IP, Dispute Resolution – to ensure every deal is solid from all sides.

Areas of expertise

Complex Cross-Border Transactions
Preparation for the Divestment or Acquisition of Businesses
Joint Ventures
Due Diligence Reviews
Privatisations
Drafting and Negotiating Documents
Other Aspects of Mergers and Acquisitions
Post-Closing Advice

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Mergers & Acquisitions

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Deals & cases

Spintop Ventures leads investment round in InsurTech startup Cachet

Superhero Capital portfolio company AISPECO to be acquired by Volatus Aerospace

Bioforce Secures 3SIIF Investment to Expand Biomethane Operations

Raintree has acquired Spike Technologies, integrating genuinely agentic AI voice technology into its EHR platform

Oxylabs has officially become Lithuania’s second most valuable unicorn

Meliva to acquire dental clinic chain Clinic DPC

VGP Group acquires a remarkable real estate property

Owner of waste management company Ķilupe sells shares to CleanR

Auga Group Sold Baltic Champs

Tallinn Dental Clinic became part of the Tallinn Hospital group

EUR 50 million project using Tesla technologies will be developed in Latvia

BaltCap (Lithuania SME Fund) has sold its stake in Exercise Investment, the company controlling the Lemon Gym and Impuls fitness clubs

Zilch to acquire AB Fjord Bank

Netflix acquires Estonian startup Ready Player Me

Havi Logistics gets acquired by Rimi

SIA “Rīgas satiksme” exercises its rights of first refusal to acquire a 49% stake in SIA “Rīgas karte”

UAB Avex kapitalas has acquired 100% of UAB SKINIJA

Vilniaus prekyba UAB completed the sale of the café chain Caif Cafe and Restoranas 12

INVL Bridge Fund successfully exits from Finto Capital

Coinvest Capital, alongside Plug & Play EMEA Ventures GmbH and international angels, has invested €1.08M in Luna Robotics

Shareholders of VAIRO IPAS sell 100% of their shares to IPAS INDEXO

SpringWater Launches as Entrepreneur-Led SaaS Acquirer and Announces First Acquisition of FirstPromoter

Tele2 and Manulife IM backed GCI create the first pan-Baltic tower company

INVL Baltic Sea Growth Fund has completed the acquisition of the Pehart Group in Romania

Shareholders of SIA Futurus Food sell 100% of their shares to UAB Sakalas

Mediatech becomes a minority shareholder of 15min Group

Tesonet invests in sports technology startup

ORAC NV acquires the Orac products distribution business from DECOREST DISAIN OÜ/Ahti Läheb

TEGOS advised 2C Ventures on investment into ESG risk management startup Esgrid

TEGOS advised the City of Tallinn on the planning of a unified Tallinn hospital

Lithuanian cross-border payments provider ArcaPay joins Ebury

TEGOS advised IVC Evidensia on Acquisition of Leading Veterinary Clinic

TEGOS assisted Clear Channel Outdoor Holdings, Inc. with the sale of its Europe-North business segment for USD 625 million

Nala Renewables, which acquired six solar power plants in Lithuania, borrowed €25 million from Luminor

TEGOS advised Colonna on the sale of a multi-Rimi store portfolio in Latvia

TEGOS and Vinge assisted Bergs Timber AB in the sale of 100% of shares of SIA Vika Wood

INVL Baltic Sea Growth Fund signs agreement to acquire the Pehart Group in Romania

Superhero Capital has successfully led a €2.5 million investment in Cyber Upgrade

Simpact Ventures invested in the medical technology startup Ligence

InMedica Group has acquired 100% shares of Druskininkai Pušynas Rehabilitation Clinic

TGS Baltic assisted Helix Kapital with selling its shares in Spring Media Group, an international full-service sports media agency

Carbyne Equity Partners has agreed to invest into UAB Biomapas

Capital fund Coinvest Capital invested in Airvolve

Nala Renewables acquires a portfolio of 34 MW solar power plants in Lithuania from Green Genius

GATAS UAB sold its shares to Saferoad Group

Unmanned Defense Systems secures a EUR 3.2 million investment

TEGOS advised Rulonas on the acquisition of IMS Baltic companies

TGS Baltic advised Coinvest Capital on its investment in the Lithuanian crisp producer CHAZZ

TGS Baltic advised investors on a pre-seed round raised by Blackswan Space

TGS Baltic advised InMedica group, Lithuania’s largest provider of private medical services, to acquire the “Panevėžio odontologai” clinic

TGS Baltic advised AB “Baltic Opportunity”, a company controlled by Lords LB Asset Management in the acquisition of 100% of the shares of UAB “Technopolis Ozas”

TGS Baltic together with Cederquist advised Kinnevik on the sale of Tele2 shares to Freya Investissement

TGS Baltic assisted Mitsubishi on acquiring 20% stake in European Energy

Assisted SIA DARDA in selling the land plot in a strategic location

Advised INVL Baltic Sea Growth Fund in the acquisition of Galinta Group

TEGOS advised Hawesko on entering into a strategic partnership with the Dunker Group

Assisted Clean Energy Infrastructure Fund in acquiring 100% shares of three companies with a portfolio of solar projects with a total capacity of 55 MW in Latvia from the developer SIA Evecon via the special purpose vehicle Clean Energy Investments UAB.

PPMI joins Kantar Public!

TGS Baltic advised AB Amber Grid in selling 66% stake in Get Baltic, UAB to European Energy Exchange (EEX)

TGS Baltic advised Livonia Partners on investment in the fast-growing sustainability innovator Bagfactory

TGS Baltic represented InMedica in closing the deal to acquire Vilnius Implantology Center Clinic

The global sustainability leader is coming to the Baltics: TGS Baltic advised IFCO SYSTEMS in acquiring UAB PlasticPack

Biggest deal in Baltics: TGS Baltic advised the buyer in the acquisition EECP Retail Properties II and III

TGS Baltic advised Litgrid, the Lithuanian electricity transmission operator, on the acquisition of shares in Norwegian company TSO Holding

TGS Baltic advised the seller in the transaction to sell the shares of KickerTech to Betsson, one of the largest companies within the European iGaming industry

TGS Baltic represented InMedica in the acquisition of Vilnius Implantology Center Clinic

TGS Baltic advised the shareholders of Kilo Health in the sale of minor part of company shares to Scandinavian and Estonian funds

TGS Baltic advised founders of the space company NanoAvionics in the sale of a controlling stake to Norwegian company Kongsberg Defense & Aerospace

TGS Baltic assisted Galio Group in acquiring commercial building from GROA Real Estate Fund I

TGS Baltic advised Civinity on the acquisition of the Inservis Group

Sunly acquired Polish solar power developer Alseva

TGS Baltic team advised Tesonet in closing investment to Žalgiris group

TGS Baltic advised Nord Security on becoming the second Lithuanian unicorn

TGS Baltic advised on the largest healthcare clinic merger in Lithuania

TGS Baltic advised Green Genius, one of Europe’s leading renewable energy companies, on acquiring a 85-MW wind farm in Lithuania