Sorainen has advised Eltel Networks on the management buy-out of of its business operations in Latvia in which Eltel District Manager Jurijs Kokorevics acquired 100% of the shares.
According to Sorainen, "Eltel is a leading Northern European provider of technical services for critical infrastructure networks – Infranets – in the segments of power, communication, and other. The company’s operations [are] spread throughout the Nordics, Poland, and Germany, providing a broad and integrated range of services ... from maintenance and upgrade services to project deliveries."
Sorainen describes Eltel’s Latvian business operations as consisting of "design, construction, and maintenance works for power distribution and power transmission networks in Latvia." According to the firm, in 2016, these operations generated net sales of EUR 4.7 million and were "marginally loss-making." the company currently employ 91 people.
The Sorainen Latvia team was led by Senior Associate Renate Purvinska and Country Managing Partner Eva Berlaus.