The Lithuanian office of Cobalt and Denmark's Accura law firm have advised INVL Baltic Sea Growth Fund on its acquisition of a 48% stake in MBL from Accession Mezzanine Capital III and the Lauritsen family. The Horten, Gessel, and Norton Rose Fulbright law firms reportedly advised the sellers.
Financial aspects of the acquisition were not disclosed.
According to Cobalt, “prior to the acquisition ... MBL was 70% owned by the Lauritsen family, which founded the company in 1988, with the remaining 30% ownership held by Accession Mezzanine Capital III. As a result of this deal, the fund ... indirectly acquired 48% of MBL while the remaining 52% will continue to be owned by the Lauritsen family.”
MBL is a Danish manufacturer of wheelchairs, rolling walkers, and other rehabilitation equipment. Its manufacturing facilities are located in Poland and China.
Cobalt‘s team in Vilnius consisted of Partner Elijus Burgis and Senior Associate Deimante Pagiriene.
Editor's note: After this article was published, Gessel informed CEE Legal Matters that it had advised Accession Mezzanine Capital III on the deal. The firm's team included Partner Malgozata Badowska, Senior Associate Krzysztof Jasinski, and Associate Katarzyna Matyszewska.