Bergs Timber Divests Vika Wood to HS Timber for Strategic Focus
Deal News | Jan 29, 2025 | CEE Legal Matters
TGS Baltic, in collaboration with Vinge, has advised Bergs Timber on the sale of their Latvian sawmill business, Vika Wood, to Nextwood One, which is part of the Austrian HS Timber group. The law firm Schoenherr advised HS Timber during the transaction, along with Cobalt reportedly advising them as well. The transaction is still pending regulatory approval. This move aligns with Bergs Timber's strategy to concentrate on the production and sale of processed wood products. Vika Wood, one of the most efficient sawmills in the Baltic region, boasts an annual production of around 300,000 cubic meters of coniferous-sawn timber. The advisory teams comprised of many experienced professionals, including key partners and associates from both firms, demonstrating the significance of this transaction.
Sectors
- Wood Processing and Timber
- Legal Services
- Private Equity and M&A
Geography
- Latvia – The target company, Vika Wood, is based in Latvia, making it a central geographic focus of the article.
- Austria – HS Timber Group, the acquiring company, is based in Austria.
- Baltic Region – Vika Wood is one of the largest sawmills in the Baltic region, which is pertinent to the geographical scope.
Industry
- Wood Processing and Timber – The article discusses the sale of a sawmill business, which is directly related to the wood processing and timber industry.
- Legal Services – Multiple legal advisory firms, including TGS Baltic, Schoenherr, and others, are involved in the transaction, emphasizing the role of legal services in M&A deals.
- Private Equity and M&A – The article involves the acquisition of Vika Wood by HS Timber, highlighting its relevance to the M&A and investment community.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Bergs Timber | Vendor | Company | The Swedish company selling its Latvian sawmill business, Vika Wood. |
| Vika Wood | Target company | Company | A Latvian sawmill business being sold as part of the transaction. |
| HS Timber Group | Buyer | Company | An Austrian wood processing company acquiring Vika Wood through its entity Nextwood One. |
| TGS Baltic | Legal advisor to the Vendor | Company | A law firm advising Bergs Timber on the sale. |
| Vinge | Legal advisor to the Vendor | Company | Collaborated with TGS Baltic to advise Bergs Timber. |
| Schoenherr | Legal advisor to the Buyer | Company | Advised HS Timber on the acquisition. |
| Cobalt | Legal advisor to the Buyer | Company | Reportedly advised HS Timber on the deal. |