Sorainen has advised Pet Baltija on its acquisition of Tesil Fibres. Reportedly, German firm Lupp + Partner advised Tesil Fibres on the sale.
Pet Baltija is a polyethylene terephthalate recycler operating in Northern Europe. It is managed by INVL Baltic Sea Growth Fund and belongs to the environmental and waste management group Eco Baltia.
Tesil Fibres is a Czech Republic-based fiber producer and a spin-off of Silon.
“This agreement to acquire reinforces INVL Baltic Sea Growth Fund’s goal of significantly expanding PET Baltija through both organic growth and bolt-on acquisition strategies,” commented INVL Baltic Sea Growth Fund Executive Partner Deimante Korsakaite.
Sorainen’s team included Partner Mantas Petkevicius and Senior Associates Mindaugas Dominykas Baniulis and Laura Matuizaite.