Next Generation Partners

Firms To Watch: Commercial, corporate and M&A

Cuesta Law Office is home to Lada Riisna who advises a number of international and Estonian financial institutions on regulatory matters including securities markets, structured finance, acquisition finance and project finance transactions. Hanne-Loore Mööl is also a name to watch for her skills in M&A, project finance and court proceedings.

Commercial, corporate and M&A in Estonia


The ‘excellent specialists’ from Cobalt deal with some of the largest and well-known M&A deals in Estonia and the Baltics. Such examples include its work for Meko whereby the team advised a market leading spare parts distributor in the acquisition of Koivunen, a provider of automotive spare parts and related services in Baltic regions including Estonia and Finland.Martin Simovart has more than 25 years’ experience in complex-multi jurisdictional transactions and divestments, involving industrial clients and private equity sponsors. Jesse Kivisaari is experienced in M&A and private equity transactions and advises companies in corporate law matters.

Practice head(s):

Martin Simovart; Peeter Kutman

Other key lawyers:

Jesse Kivisaari; Ott Aava; Heleri Tammiste


‘Excellent specialists for every field, easy to work with.’

‘Peeter Kutman – very easy to work with.’

‘The team is very solution oriented and dedicated to their client.’

Key clients


Asteria Group

Avena Nordic Grain





Levine Leichtman Capital Partners

Mid Europa Partners


Royal Unibrew

Zurich Insurance Group

Ekspress Group

Livonia Partners

TUUM (formerly Modularbank)


Work highlights

  • Advised MEKO in the acquisition of Koivunen, a provider of automotive spare parts and related services in Finland, Estonia, Latvia, and Lithuania.
  • Acted for the shareholders of Maksekeskus, a company offering payment solutions and other services related to e-commerce, on the sale of a 99% stake of Maksekeskus to Luminor Bank.
  • Advised Asteria Group, a Waterland Private Equity portfolio company, on the acquisition of Nordic Label and Data Print from Tilgmann.


Ellex‘s M&A team is known for its distinguished corporate and commercial practice, featuring significant expertise and experience in a range of advisory and transactional mandates. The firm provides legal advice in connection with the full range of domestic and cross-border M&A transactions, corporate governance and private equity capital investments. Risto Vahimets and Sven Papp co-head the team, with Vahimets focused on financial services, retail, restructuring and distressed advisory and Papp being an experienced transactional lawyer. Gerda Liik advises on domestic and cross-border M&A transactions in various industry sectors such as the financial and IT sector. Rutt Värk specialises in M&A and business law. One of the firm's landmark cases saw it act for AS Graanul Invest, a deal in which team members including Ermo Kosk , Martin Mäesalu , Dmitri Rozenblat and Hanna Pahk advised shareholders of AS Graanul Invest in the sale of 100% shareholding to Apollo Global Management Inc. investment funds.

Practice head(s):

Risto Vahimets; Sven Papp

Other key lawyers:

Gerda Liik


‘Very good knowledge in all areas we need and also very fast respond and perfect delivers on time to a reasonable price.’

‘Ermo Kosk our main partner is just brilliant!!’

‘Ermo Kosk is one of the very best professionals in this field.’

Key clients

Graanul Invest AS

BaltCap Private Equity Fund

Partners Group AG

Sportland International Group

AS Tallink Grupp

Veho Baltics OÜ

Proekspert AS

Maag Grupp AS

United Utilities Group PLC

Skeleton Technologies Group OÜ

Work highlights

  • Advised the shareholders of AS Graanul Invest (Biofuel OÜ, Neoinvesteeringud OÜ and Renergy OÜ) in the sale of 100% shareholding to Apollo Global Management Inc. investment funds.
  • Acted for United Utilities in the sale of its stake in Tallinna Vesi to the City of Tallinn and energy group Utilitas.
  • Advised Elering AS, an Estonian gas and electricity transmission system operator (TSO), on establishing a joint venture company Baltic RCC OÜ with Latvian and Lithuanian TSOs.


Sorainen is a market leader across the Baltics and Belarus for corporate and M&A work. This is a key practice areas to the firm as members work seamlessly in a cross-border capacity, offering experience and skill to handle multiple projects simultaneously, which has led to a number of leading instructions by international blue-chip companies, local market leaders, and new start-ups looking to make their mark. Toomas Prangli and Piret Jesse are the heads of the corporate and M&A team in Estonia, offering expertise and an excellent reputation in some of the major mergers and acquisitions in the region, as well as advising in private equity matters.

Practice head(s):

Toomas Prangli; Piret Jesse; Karin Madisson

Other key lawyers:

Lauri Liivat; Triin Ploomipuu; Mirell Prosa


‘For Sorainen, the client is the most important and they take care of you as a mother would take care of her baby. Big plus is that they are a large firm, so they have a specialist for every area, but still partner you with someone who works with you and takes care.’

‘The team is solution-oriented and delivers quickly straight-to-the-point and high-quality legal advice. The team is very experienced in raising capital with high-profile international investors and they support the client every step of the way even under extremely tight deadlines.’

‘In my opinion it’s all about the people. It’s a practice, but they really make every customer feel special, taken care of and safe. Not sure how they organise their processes internally, but they are very responsive. Also loved their diverse team.’

‘Sorainen’s team has the most experience in VC fundraising, having advised biggest startup fundraises of the previous year. Thus, we are lucky to work with them. They are well aware of negotiation strategies of their competitors, which gives us a strong advantage in each fundraising round.’

‘Sorainen’s team is very flexible, consists of bright individuals who work together perfectly. They shall be praised for their very thorough, constructive and business-oriented approach.’

‘They take time for listening and understanding the problem and situation. After that they move fast.’

Key clients


CARIAD Estonia

Apollo Global Management




Portage Ventures

JAS Worldwide




Livonia Partners


Work highlights

  • Advised Bolt on raising $709m in a funding round.
  • Advised Apollo on acquiring a majority stake in Estonian-based Graanul Invest.
  • Advised CARIAD Estonia, a subsidiary of Wolkswagen Group’s car software company, on a cross-border merger.

Eversheds Sutherland Ots & Co

Eversheds Sutherland Ots & Co has a unique feature whereby the Estonian counterpart is linked as a member to the wider Eversheds Sutherland network, making its lawyers well-equipped to advise on urgent cross-border issues. Maivi Ots is described by clients as ‘consistently taking a pragmatic approach and thinking several steps ahead‘, while Risto Rüütel  has vast knowledge on contentious and non-contentious issues in Estonia. Dmitri Zdobnõh  has over ten years of experience in corporate matters, taking an active role advising on some of the firm’s high profile clients.

Practice head(s):

Maivi Ots

Other key lawyers:

Risto Rüütel; Dmitri Zdobnõh


‘Overall thoroughness stands out.’

‘Engaging and actively listening first rather than providing predetermined decisions for the path to be pursued. Maivi Ots.’

Key clients

Index Ventures XI (Jersey), L.P.

Cleveron Mobility AS

Sequoia Capital

Specialist VC Primary and Secondary Fund II

Confido Healthcare Group OÜ

SigmaRoc Plc

Hartenberg Capital

TextMagic Limited

NestCap Management OÜ

Agrone OÜ

Cranfeld Invest OÜ

Global Telecom Invest OÜ

Work highlights

  • Advised SigmaRoc Plc, a specialist quarrying group that invests, improves, integrates and innovates companies within the quarried materials space, in acquiring the shares of Nordkalk Oy Ab, a Finnish entity, being a leading company providing limestone-based products and solutions in Northern Europe.
  • Assisted Cleveron Mobility, an up-and-coming, forward-thinking autonomous robot courier developer and manufacturer, in their successful IPO ultimately valued at around 5,08M EUR. Our work included a comprehensive review of the documents related to the investment.
  • Conducted legal due diligence regarding Montonio Finance OÜ and its subsidiaries in Estonia and Lithuania with respect to an investment round to the company and the acquisition of approx. 16% shares of Montonio Finance OÜ. The investment was valued at 8.8M EUR.


FORT has an exceptional track record in some of the region’s largest M&A transactions, with recent success including Kuldar Jaan-Torokoff advising EveryPayAS, its shareholders and management in its sale to AS LHV Group. This past year, the firm has improved their corporate commercial team, with the integration of high-end tax to the M&A practice. Minni-Triin Park is a specialist in M&A, with a strong track record advising major Estonian and international investors and asset managers on a full range of M&A deals.

Practice head(s):

Minni-Triin Park; Kuldar-Jaan Torokoff


‘FORT Tallinn was assisting us with restructuring our legal structure and share buyback. They did a great job providing high-quality service, on-time response, and a comfortable environment during this complex transaction.’

Having reliable legal partners during restructuring is crucial for successful transactions.’

‘Kuldar-Jaan Torokoff was leading the transaction procedure. He was reliable, and punctual, delivered high-quality documentation, solved issues during the process, and communicated with the national court.’

Key clients

Capitalica Asset Management

LHV Group

Elisa Oyj

Tallinna Kaubamaja Grupp AS

Hansabuss, Europcar in the Baltics, Hansarent, Hansa Bussiliinid and Iveco importers;

East Capital

Papyrus AS


Phoenix Group Estonian companies

Nordea Bank Abp Estonian branch


Work highlights

  • Advised EveryPay AS, its shareholders and the management in concluding the agreement with AS LHV Group as a strategic investor, whereunder LHV acquired 100% of shares of EveryPay AS.
  • In Partnership with EY, carried out a state-commissioned investigation into the legal and financial situation of Omniva, an Estonian state owned international logistics company that transports goods and information.
  • Advised acquisition and restructuring of Cognitech, an unique company that uses artificial intelligence, machine learning and proprietary software to provide liquidity and improve the efficiency of cryptocurrency markets.

TGS Baltic

TGS Baltic is home to specialists in private equity investments as well as IT, IP, energy, distressed asset and real estate-related M&A. Members of the firm have been involved in all major transactions in the market in all areas of corporate and commercial advisory and regulatory issues. Sander Kärson is focused on areas such as M&A and venture capital, while Mirko Kikkamägi has proven himself as a strong project leader in large scale due diligences. Maris Alt recently joined from Pwc Legal.


‘They have the following qualities: professionalism in law first of all, being always up to date – then understanding the client’s needs. TGS is large enough to fulfil large projects and personal enough for the clients.’

‘Our main Partner is Sander Kärson. All the accompanying process has been smooth and Sander has managed well the process of being informed of all the cases.’

Key clients


LHV Varahaldus AS

Auto-Bon, AutoHalle (Bassadone Group)


Merko Ehitus Eesti AS

Truffle Capital

Eesti Post


Payster Group OÜ

OTB Ventures

Serent Capital

Zaka Startup 2, j.s.a.


Open Air Group AB


Cybernetica AS

Nõo Lihatööstus

Work highlights

  • Advised Estateguru on raising series A round investment of EUR 5.8M from various investors. The investment round was led by TMT Investments Plc, a UK venture capital and a public company that was also an early investor in both Bolt and Pipedrive.
  • Acted for Truffle Capital SAS on leading a EUR 5,500,000 investment round into InsurTech startup Cachet. Cachet is a startup that creates smart insurance solutions.
  • Advised BaltCap on the sale of BPT Real Estate, one of the largest property management companies in the Baltics.


WALLESS is well known for its sector expertise in a variety of areas, including investment funds, infrastructure, finance, real estate, telecommunications, automotive, IT, biotechnologies and education. Renewable energy has been a strong focus for the firm, with the team working on several mandates involving sale of renewable energy projects, both wind and solar. Rolan Jankelevitsh has advised on a number of M&A transactions as a lead counsel, with a key focus on logistics, transport, technology and manufacturing. Toomas Taube supports on the full range of corporate matters, and his client portfolio includes numerous international corporations.

Practice head(s):

Rolan Jankelevitsh

Other key lawyers:

Toomas Taube; Karl-Erich Trisberg

Key clients

JNG Investments


BE Group

éolane Tallinn

Bigbank group

Corel Corporation


Magnetic MRO

Lemeks group

Adepte Group

Work highlights

  • Advised JNG Investments in a transaction where JNG Investments acquired a 100% holding in wholesaler AS Balt-Hellin. |
  • Instructed by Mandatum Life Insurance Company Limited on the sale of entire Baltic life insurance portfolio to the listed Lithuanian asset management group Invalda INVL.
  • Advised Bigbank group on major private equity investments into agricultural assets.|

KPMG Law in Estonia

KPMG Law in Estonia benefits from a joined up legal deal advisory with KMPG Estonia’s tax and financial experts, who are able to address cross-border legal issues through the KPMG network worldwide. Managing partner Karin Oras has a focus on M&A, corporate law and capital raising, having developed strong relationships across the Nordic and Baltic regions. Sandra Metsamärt stands out for her extensive experience in advising clients on different areas of corporate and commercial law, including start-ups, industry and FMCG.

Practice head(s):

Karin Oras

Other key lawyers:

Sandra Metsamärt


‘Sandra Metsamärt has been very quick in responses, very committed and professional in her work. Highly recommendable.’


Key clients

UPM-Kymmene Oyj

Pepco Poland sp. z o.o

Accord Healthcare Limited

Polybius Foundation SE

Etra Balti Aktsiaselts

Greenful Group OÜ

Everaus Kinnisvara OÜ

Smartecon OÜ

Stora Enso AS

Barrus AS

Hemtex AB

Intercheese Holland BV


Bauroc AS

Eesti Piimafarmid OÜ

Ministry of Economic Affairs

Loud Group Oy

Amora Sijotus Oy and Nova Optimus Oy

Fausto Capital

Work highlights

  • Advised Fausto Capital in acquisition of Vilcon Ehitus.
  • Acted for Ministry of Economic Affairs and Communications in legal and financial due diligence process of Teede Tehnokeskus AS. We also act as client’s adviser and representative in the sales process of the company.
  • Advised Greenful Group in various corporate and M&A questions, including legal analysis of the investment structure, drafting of shareholders agreement, investment and convertible loan agreements and other corporate documents.


LEADELL Pilv continues to provide quality counselling on various aspects of corporate and commercial law, in areas including shareholder relations to transactions and trade, with Pirkka- Marja Põldvere being well known for shareholder relation matters. The team regularly engages in work across multiple regions including Latvia, Lithuania, Finland, Sweden, Poland, Georgia and Ukraine.

Practice head(s):

Pirkka-Marja Põldvere


Lawyers all professional and provide a rapid service.’

‘Quick, considerate, solution-oriented.’

Key clients

Hitachi Energy Estonia AS

Randomer OÜ

OTC Aussenhandels GmbH

Evicon Ehitus OÜ

MTÜ Eesti Lasterikaste Perede Liit


LVM Kinnisvara OÜ

Swappie OY

Vesta Tallinn Terminal OÜ

Novara OÜ

Work highlights

  • Advised Hitachi Energy Estonia AS in various corporate (and also general commercial) issues. For example, preparing the change of business name, data protection etc.
  • Acted for GRK Rail OY and other group companies in connection with perspective acquisition (incl. conducting DD) and general contractual matters.
  • Advised LVM Kinnisvara OÜ on a daily basis in regard to drafting brokerage and rental contracts, non-compete contracts and also in relation to data protection and anti-money laundering regulations.


LINKLaw is headed by Kairi Kurisoo who, with over twenty years of experience, is well-placed to support on significant M&A deals. Maksim Kozlov is a name to watch for his focus on providing legal assistance to local and international clients, including advising Ukrainian based companies regarding their specific and ongoing projects in Estonia.

Practice head(s):

Kairi Kurisoo

Other key lawyers:

Maksim Kozlov


‘Committed, service minded and flexible, competent, can deliver very fast if situation requires. They support with wider view to solutions/cases for decision-making and road mapping.’

‘Kairi Kurisoo is a stand out with her qualification and leader skills.’

Key clients

Viru Keemia Grupp AS

Ragn-Sells AS

Eesti Raudtee AS

Tomra Collection Latvia SIA

Tomra Service OÜ

Tomra Systems UAB

COOP Eesti Keskühistu

AS Merko Ehitus

Reyktal AS

Asymmetric Studios OÜ

EstPakPlastik AS


Rail Trans Invest OÜ


Schüco Eesti OÜ

Work highlights

  • Advised Tomra, which is the world’s leading provider of reverse vending solutions, on participating in the tender process and entering into the cooperation agreement with the Latvian deposit system organisation, and starting the business in Latvia.
  • Acted for Ragn-Sells AS, one of the biggest waste management and environmental companies in Estonia, in acquisition of the shares of landfill operation company Väätsa Prügila AS.
  • Advised Viru Keemia Grupp AS and its subsidiaries, the largest manufacturer of shale oil and chemicals in Estonia and one of the biggest employer in Estonia, on various everyday contractual and corporate matters.


Magnusson benefits in its cross-jurisdictional coverage of matters with established offices in Sweden, Denmark, Finland and the Baltics. The firm is well known for its experience in multi-jurisdictional transactions, such as its recent work for Avia Solutions Group whereby partners, including Toomas Mälberg, advised the client on a cross-border structured equity investment. Linda Merileid Tilk is the managing associate with a focus on M&A transactions and a specialism in competition law.

Practice head(s):

Jaanus Mägi; Toomas Mälberg

Other key lawyers:

Linda Merileid Tilk


‘A highly competent team of strong professionals you can count on to deliver quality service even within tight deadlines or complicated transactions. Established Nordic-Baltic presence, a comfortable one stop-shop.’

‘We regard our main contact Toomas Mälberg as a highly responsive and commercially minded professional working with whom we can be sure that our best interests are always looked out for.’

‘As an international startup, the service provided by Magnusson has been first class.’

‘Jaanus Mägi has provided excellent advice for our international startup.’

Key clients

Saint-Gobain Estonia

Avia Solutions Group


Elers Medical

Inter Cars Estonia



OmniMatrix OÜ, BVKI OÜ


Vetminds Invest

Work highlights

  • Advised Saint-Gobain Eesti AS, member of the worldwide leader in light and sustainable construction Saint-Gobain Group, on the sale of its subsidiary flat glass processing business Baltiklaas to Barrus, the largest glued laminated timber manufacturer in Estonia.
  • Consulted Avia Solutions Group in connection with Certares’ EUR 300 million structured equity investment in the Group.
  • Advised Telko Ltd on the acquisition of Mentum AS, an Ambassador partner of Castrol in the Baltics.

NJORD Law Firm

NJORD Law Firm has an established reputation for its handling of M&A transactions and corporate matters, with particular expertise in assisting clients who wish to enter the Estonian market. The firm is able to produce an efficient and fast service in guiding the client through the necessary steps of establishing a corporate structure. Helping with this is the firm's own tech advancement of Njord Lab, a program which works with start-ups to support their growth. Karolina Ullman is distinctly a member of the Swedish bar and is one of the main contact points for Nordic businesses in Estonia. Erik Salur advises on the incorporation and fundraising rounds of start-ups, in addition to the restructuring processes of established corporate groups.

Practice head(s):

Erik Salur

Other key lawyers:

Hannes Küün; Marit Savi; Tanel Tark

Key clients

Rae Golf OÜ

Praktikal Education OÜ

SHA2 Group OÜ (

Robus Athletic OÜ

Plus500EE AS

Estonian Japan Trading Company AS

Eskaro Group AB (Sweden)

MBK Co, Ltd (Japan)

Invescore Japan Co., Ltd (Japan)

Huber Manser Family Office OÜ (investment manager)

Work highlights

  • Advised the Estonian biggest golf club Rae Golf OÜ in the purchase of another golf club in Estonia, White Beach Golf course. NJORD advised the client in negotiations of the transaction documents and provided support throughout the transaction process.
  • Consulted SHA2 Group OÜ and its subsidiary SHA2 solutions OÜ, with a corporate restructuring prior to the closing of its seed investment round.
  • Exclusively advised Plus500 Ltd, an LSE listed fintech, with establishing its corporate presence in Estonia (Plus500EE AS) in relation to applying for and receiving an Estonian investment firm licence.

PricewaterhouseCoopers Legal

PricewaterhouseCoopers Legal is one of the largest consultancy firms in the region, with a strong presence across the Baltics. The team is naturally active on multi-jurisdictional and cross-border matters, including restructuring, due diligence, modelling, valuation and formation of joint ventures. The firm offers a one-stop-shop approach for clients whereby a number of teams, such as tax and advisory, are combined to offer a full service for the client. Indrek Ergma‘s main focus is on corporate restructuring and the regulation of relationships between shareholders and partners. Karen Root is a name to watch owing to her involvement in complex cross border corporate restructuring and M&A projects.

Practice head(s):

Indrek Ergma; Karin Marosov

Other key lawyers:

Marit Alt; Karen Root


‘PricewaterhouseCoopers Legal OÜ team is very professional and oriented to solve the customer’s problems. They are flexible and respond very quickly. They are a big company and have lawyers in different areas according to the exact need of the customer. We are very satisfied with them.’

‘I have mostly worked together with PricewaterhouseCoopers Legal OÜ partner Indrek Ergma. He is very committed to his work and our problems have been solved very smoothly. There was a big project last year, where the company was demerged and partly sold. There was huge work of the lawyers done and we achieved our goals.’

Key clients

Adacel Technologies Ltd

Barrus AS

Bolt Operations OÜ

Digital Nation Capital OÜ

Estonian Red Cross

Enterprise Estonia

Färsk OÜ

Limewire GmbH

Maakri KVF OÜ

Pohjanmaan Osuuspankki

Solid World DAO

BB Finance Group OÜ

Wolf Group OÜ

Work highlights

  • Assisted Adacel Technologies in the acquisition of a business in Estonia.
  • Advised on a spin-off transaction as a result of which the blockchain-based enterprise Solid World DAO grew out of the eAgronom startup, which is developing a carbon trading programme.
  • Advised Bolt Operations on an internal restructuring involving the transfer of shareholdings of Bolt entities in multiple jurisdictions.


The ‘practical and down to earth business team’ at RASK Attorneys-at-Law has maintained a track record in acting for prominent Estonian and Baltic investment funds and advisers. The team is led by Ramon Rask who has over ten years of experience in corporate transactions, shareholder disputes and day-to-day advisory affairs; he is notably a member of the Commercial Law Committee of the Estonian Bar Association. Timo Kullerkupp is well known for his work in international transactions.

Practice head(s):

Ramon Rask

Other key lawyers:

Timo Kullerkupp; Annika Soom


‘Very practical and down to earth business team. Pleasure to work with.’

Quick reaction time, trustworthiness and ability to rely on.’

‘RASK lawyers always go in deep to understand your business and your dealings.’

Key clients

Ridango AS

Eurora Solutions OÜ

Bestair Group

Lumi Retail Property Fund

Airpatrol OÜ

Fiizy OÜ

Air Baltic Corporation AS

TF Bank AB (Estonian Branch)

Net Group OÜ

Tallinna Teaduspark Tehnopol SA

Work highlights


TARK continuously advises start-ups and investors in venture capital deals, as evident by its recent work for Icebreaker VC, a Finnish venture capital fund, on its investments into start-ups including Xpass and Dotty. Hannes Küün has advised on a number of landmark M&A deals and assists clients across the entire spectrum of corporate and commercial law. Marit Savi has recently advised on the sale of agricultural lands and cattle farming business.

Practice head(s):

Hannes Küün; Tanel Tark; Marit Savi


‘The team that I am in contact with consists of mainly partners. This is very unique compared to other legal service providers I have worked with. It gives me a high level of confidence in trusting the service provided to my company.’

‘The individuals working with us provide a very personalized service. The service is catered to my company’s needs and schedule – we are a growing startup and are looking to outsource several legal needs since we do not have the time resources to take on this work ourselves.’

Key clients

Notorious OÜ

Icebreaker VC

Ühinenud Farmid AS group

Vaklak group

Outfunnel OÜ

KlausApp (Qualitista)

Optiwin OÜ (Entain group)

MyFitness group

Ideal OÜ (AVIS)

Ober-Hausi Kinnisvara AS

Rakuten Europe, Rakuten Estonia

AS Icosagen,

Derivco Estonia OÜ

AS Standard

Sigma Polymer Group OÜ

Barrus AS

JT IOT Limited

Work highlights

  • Advising AS Barrus in acquisition of Baltiklaas from Saint-Gobain Group and further creation of JV with Livonia Partners by merger of Polar Glass (owner of Baltiklaas business) and Klaasimeister (See publishable matter 3 and 4) .
  • Advising Icebreaker VC with more than 10 investments into Estonian technology start-ups and advising most of these start-ups with regard to their daily business.
  • Advising Saare Dolomiit-Väokivi in its merger with Paekivitoodete Tehas.

Triniti Estonia

Triniti Estonia is well known for its experience in venture capital and start-up-related matters, with specific expertise in the transport sector. The firm recently acted for Utilitas in a deal which involved the sale of 85% shareholding in the company. Ergo Blumfeldt is a veteran, who has advised on over a hundred transactions in Estonia, and is supported by Tanel Kalaus.

Practice head(s):

Ergo Blumfeldt

Other key lawyers:

Tanel Kalaus


‘This growing multi-disciplinary team has top legal expertise, deep industry knowledge and an ability to apply these remarkable skills to the clients need with a business-like practical approach. The predictability of TRINITI´s billing is outstanding due to their willingness and experience in pre-agreed fees and legal budgets.’

‘Ergo Blumfeldt is very experienced, easy to work with, delightfully to-the-point and result-oriented.’

Key clients


Fractory Solutions



UG Investeeringud OÜ

Thermory AS

Rail Baltic Estonia

Transpordi Varahaldus

City of Tallinn

Lemonadestand OÜ

Work highlights

  • Advised Fractory Solutions OÜ in acquiring venture debt of 4 MEUR from Kreos Capital from the UK. This was one of the first venture debt deals in Estonia.|
  • Advised the insuretech startup Cachet Data Corp Limited in raising 5,5 MEUR from various investors (Paris-based Truffle Capital, Uniqa Ventures and others). TRINITI advised Cachet Data Corp throughout all stages of the transaction.
  • Advised Baywa Energy Ventures (member of BayWa AG group) in a large investment into Estonian renewable energy sector.


ALTERNA is a strong boutique firm, led by partner Annika Vait who provides legal counselling in transactions, contracts, due diligence, special audits, contract negotiations and shareholder disputes.

Practice head(s):

Annika Vait


‘One of the strengths and key capabilities for law firm ALTERNA is that they are very flexible, professional and the offered legal services is of high quality. Furthermore, the team pays a lot of attention to the client’s needs and they have an individual approach to each client.’

‘Attorney-at-law and partner Annika Vait is an excellent legal professional. She is helpful and trustworthy. Annika has great communication and negotiation skills.

‘Overall, the team working in ALTERNA is always ready to help. The communication with them is very easy, as they are creative, adaptable, and empathetic. They focus on the clients goals dedicate to achieve it.’

Key clients

Sulev OÜ

TaEthni OÜ

Varatõusja OÜ

E-Riigi Akadeemia Sihtasutus

OPTIMO Robotics OÜ

VMT Ehitus AS

MTÜ Typa

KRM Advisor OÜ

Estonian Association for Property Maintenance

Eventus Ehitus OÜ

OÜ Runforest

Uuesalu Arendus OÜ

Narva linn (Narva city)

Baltic Restaurants Estonia OÜ

Opus Development OÜ

BM Certification Estonia OÜ

Prokter OÜ

Intelometry OÜ

Work highlights

  • Counselling E-Governance Academy in conducting various e-governance projects in developing countries, incl. in Ukraine, Armenia and Kyrgystan.
  • Acting for BM Certification Estonia in a court dispute against its former manager and former employees.


LEXTAL is an active name within M&A and financing transactions, often overseeing deals with cross-border elements in Latvia and Lithuania. The team is led by Ants Karu with support from Kristi Sild.

Practice head(s):

Ants Karu

Other key lawyers:

Kristi Sild


‘Responsive, smart and practical team.’


Key clients

Eurora Solutions OÜ

Latam Fintech Holding OÜ

Armadio OÜ

Oruvara OÜ

Work highlights

  • Advised Estonian rising start-up Eurora Solutions OÜ in several investment rounds, including a USD 3 million investment round from Change Ventures and USD 40 000 000 investment round.
  • Advised Armadio OÜ in the sale of Port One group (PortOne (Estonia), PortOne Poland and State Port Group (Lithuania). PortOne offers fuel cards, road toll, VAT and excise tax recovery services for road transport and logistics companies in Estonia, Latvia, Lithuania, Poland and Russia.
  • Provided counsel to Oruvara OÜ in the development project of an office building situated at Pärnu avenue 132, Tallinn.


NOVE’s corporate and M&A team is active throughout the Baltic region. The firm has also played a role in drafting legislation and commentaries in corporate law, with its lawyers helping to shape the Estonian Commercial Code. Laura Raadik advises clients on day-to-day corporate and contract law matters alongside large-scale investments and sales transactions.

Practice head(s):

Laura Raadik


‘Very good, hands on approach. Their legal skills are excellent, the company has helped us through difficult disputes.’

Absolute top experts in their field, highly respected and with excellent success rate and track record.’


Key clients

Innopolis Insenerid OÜ

University of Tartu

Medemis OÜ

AAA Patendibüroo OÜ

Lei Register OÜ

Danpower Eesti AS

Quantem Analytics OÜ

Civitta Eesti AS

Aktsiaselts Filter

Tallinnan Elementti OÜ

Work highlights

  • Advising the owner of a reputable private clinic on the sale of the clinic.
  • Provided counsel to a start-up company active in the field of risk management services on raising capital in the amount of MEUR 1.
  • Advised Innopolis Insenerid OÜ, a leading building engineering and technical design company in the Nordic and Baltic region, on a merger.

Hedman Partners

Hedman Partners focuses on representing technology-driven and digital businesses on their corporate, commercial and M&A activities. The team also often works closely with entrepreneurs and investors, and is home to Merlin Seeman and Toomas Seppel, both of whom are well versed in all aspects of M&A.

Practice head(s):

Merlin Seeman

Other key lawyers:

Toomas Seppel; Kati Pino


‘Noted for their delivery time for tasks and industry knowledge.’

‘Kati Pino – great industry knowledge, fast communication. Toomas Seppel – great industry knowledge, fast communication.’

Key clients


Inclusion OÜ (Planet42)

Fractory Solutions OÜ


Baltic LEI OÜ

Gelatex Technologies OÜ

Alpha AR OÜ

STIHL Digital GmbH


Mainor AS

Talent Protocol

Wallet Solutions OÜ


Intelligent Technologies OÜ (AlphaChat)

Siena Secondary Fund

Katana Technologies OÜ

UniTartu Ventures OÜ

Work highlights

  • Advised HautAI OÜ regarding its strategic partnership with Ulta Beauty, the largest beauty retailer in the U.S.
  • Assisted Inclusion OÜ (Planet42) with raising USD 30 million, of which USD 6 million in equity.
  • Advised GetID OÜ on entering into an agreement for being acquired by Group for the purchase price of EUR 8.1 million.