NTG Sells to Axcel: Ellex Advises Altor on Nordic Tyre Group Divestment
Deal News | Mar 20, 2025 | CEE Legal Matters
Altor has divested its independent tire wholesaler, Nordic Tyre Group (NTG), to Axcel. NTG, active across the Nordics and Baltics, began with a partnership in 2019 with the founders of Gummigrossen and Rengasduo, and later expanded in 2021 by acquiring Latakko companies in Latvia, Lithuania, and Estonia. This acquisition positioned NTG as the leading tire distributor in the Baltics. The legal advisory on the divestment deal was provided by Ellex, a law firm with a team comprising Partner Sarmis Spilbergs, Senior Associate Kaspars Olsevskis, and Associate Eliza Semkina. Ellex, however, did not comment on the transaction when reached for inquiry.
Sectors
- Automotive Parts and Distribution
- Legal Services
Geography
- Nordics – NTG operates as a tire wholesaler in the Nordics, a key region for the company's activities.
- Baltics – NTG has become the largest tire distributor in the Baltics following its acquisition of Latakko group companies.
Industry
- Automotive Parts and Distribution – The transaction involves Nordic Tyre Group, a major player in the tire wholesale and distribution sector across the Nordics and Baltics.
- Legal Services – Ellex is the law firm advising on the divestment, playing a crucial role in the legal aspects of M&A transactions.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Altor | Selling Company | Company | Private equity firm divesting its interest in Nordic Tyre Group. |
| Nordic Tyre Group | Target Company | Company | Independent tire wholesaler across the Nordics and Baltics. |
| Axcel | Bidding Company | Company | Acquirer of Nordic Tyre Group. |
| Ellex | Legal Advisor | Company | Law firm advising Altor on the divestment of NTG. |
| Latakko Group | Acquired Entities | Company | Companies acquired by NTG in 2021, enhancing its presence in the Baltics. |