The Estonian office of Sorainen and Sweden's Vinge Law Firm have advised Swedish industrial group Hexatronic on the acquisition of Estonia-based Baltronic and Canada-based Toronics.
According to Sorainen, “Baltronic and Toronics supply and assembly fiber optic products with a focus on wireless and FTTH solutions. The production unit was established in Estonia in 2001 and is the largest fiber optic termination house in the Baltics where standard and customized products are assembled.” The firm also reports that the selling shareholder of Baltronic Group and Toronics is “the founder and chairman who will continue in the Hexatronic Group with a continued focus on developing the business in Canada.”
“Baltronic Group and Toronics have been trusted partners for many years and we are very pleased to welcome the team to the Hexatronic Group,” says Hexatronic Group CEO Henrik Larsson. “This acquisition will bring us a strong presence in the Baltics [and] skills and expertise in wireless network solutions where they have long experience, and [will] gain us a footprint in the Canadian FTTH-market as part of our North American growth strategy. Baltronic’s production facility will also increase our production capacity in Europe and bring us closer to a number of important markets and thereby increase our competitiveness.”
Sorainen’s team included Partners Piret Jesse, Paul Kunnap, Algirdas Peksys, and Janis Taukacs, Counsels Norman Aas, Andis Burkevics, and Darius Raulusaitis, Senior Associates Kaido Kunnapas, Piret Lappert, Lise-Lotte Laane, Renate Purvinska, Britta Retel, Agita Sprude, Natalija Sestakova, and Robin Teever, and Associates Liva Aleksejeva, Juliana Pavilovska, and Nele Suurmets.
Sorainen did not reply to our inquiry on the matter.