Cobalt fields a deep bench of experienced corporate lawyers. The group is highly regarded for its expertise in M&A transactions, often representing clients in the financial services, energy, technology and private equity sectors in mandates. Venture capital transactions are also prominent in the team's workload, and the practice has seen an increase in work from clients in the private healthcare, defence and food innovation industries. Martin Simovart, Peeter Kutman and Kristel Raidla-Talur co-head the department. Jesse Kivisaari and Ott Aava are practitioners to note.
Commercial, corporate and M&A in Estonia
Cobalt
Praxisleiter:
Martin Simovart; Peeter Kutman; Kristel Raidla-Talur
Weitere Kernanwälte:
Jesse Kivisaari; Grete Kuru; Ott Aava
Referenzen
‚Great understanding of the market.‘
‚Very available.‘
‚The team showed a very high level of expertise.‘
Kernmandanten
C.D Holding Internationale
SmartCap
Karma Ventures
European Investment Bank (EIB)
Stargate Hydrogen
Frankenburg
European Bank for Reconstruction and Development (EBRD)
Mirova Energy Transition 5 S.L.P
Goodyear Dunlop Tires
VKG
Livonia (KS Livonia Partners Fund II AIF)
BaltCap
Hansab
Yolo Group
Hanza AB
Bauhub
Highlight-Mandate
- Advised C.D Holding Internationale on acquiring a 76.5% stake in Stebby OÜ.
- Advised Admicom Oyj’s subsidiary Tocoman Oy on the acquisition of Bauhub OÜ, an Estonian SaaS developer of construction project management platforms.
- Advised Balti Autoosad AS on the acquisition of AS Automeister.
Ellex Raidla
Ellex Raidla's team is notable for its expertise in complex corporate transactions. The group is well known for its established track record in advising on joint ventures, M&A, corporate governance and regulatory matters, often involving pan-Baltic elements. Antti Perli, who handles private equity investments, and Risto Vahimets, who assists with corporate finance issues, co-head the practice. Other key areas of instruction include acquisitions, management buy-outs and restructuring cases. Ermo Kosk, Sven Papp, Gerda Liik and Rutt Värk are other key practitioners to note.
Praxisleiter:
Risto Vahimets; Antti Perli
Weitere Kernanwälte:
Sven Papp; Ermo Kosk; Gerda Liik; Rutt Värk
Referenzen
‚Strong, in-depth knowledge.‘
‚Ellex Raidla’s Commercial, Corporate & M&A practice stands out for its depth, precision, and responsiveness. The team has a unique ability to combine strategic advisory with practical deal execution. They don’t just identify risks, but help design workable solutions that accelerate transactions. It brings an unusually strong blend of local regulatory knowledge and international transaction experience. Clients benefit from the team’s proactive communication style and a commitment to tailoring advice to the client’s business model rather than relying on standard templates.‘
‚The individual contribution of Rutt Värk has been exceptional. What sets her apart is her ability to see the full picture: she combines a meticulous legal eye with a deep understanding of commercial dynamics. She is highly engaged and hands-on. She is always available, always prepared, and consistently pushing deals forward. She balances technical accuracy with commercial sense.‘
Kernmandanten
ERGO International AG
Gren Eesti AS
Swedbank AS
Infortar AS
Printful
Operail OÜ
Elenger Grupp AS (Eesti Gaas)
Eleport OÜ
Telia Eesti AS
Bolt Operations OÜ
Enefit Green AS
Highlight-Mandate
- Advised Elenger AS on the acquisition of all business operations of EWE group in Poland for €120 million.
- Advised Latvian company Printful on its merger with print-on-demand (POD) platform Printify.
Sorainen
Sorainen is perhaps best known for its expertise in handling pan-Baltic, high-value corporate transactions. M&A deals form a key area of instruction, however the team's workload includes advising on the corporate finance aspects relating to large-scale renewable energy projects and cross-border joint ventures. Toomas Prangli, Piret Jesse, Karin Madisson and Mirell Prosa are the quartet at the helm of the practice; Prosa is a key contact for start-up clients. Robin Teever is well versed in handling mandates from clients in the defence sector, and Triin Ploomipuu is a name to note for M&A transactions. Lauri Liivat left the firm in July 2025.
Praxisleiter:
Toomas Prangli; Piret Jesse; Karin Madisson; Mirell Prosa
Weitere Kernanwälte:
Robin Teever; Paul Kunnap; Piret Lappert; Triin Ploomipuu
Referenzen
‚Their approach to client service and efficiency is good. Sorainen’s team is known for its cross-border expertise, especially in the Baltics.‘
‚They are on top of what happens in the market, and they communicate exceptionally well.‘
‚Mirell Prosa is a true professional. She finds solutions and does not sugarcoat hard issues.‘
Kernmandanten
Nissan Nordic Europe
Technopolis Holding Oyj
BaltCap
Wildix
Berry Global Inc
Sunly
Glassense (former Klaasimeister)
Tallinn City Government
Milrem Robotics
Metsä Group
Kaamos
Dynatrace
Timento Capital OÜ
Salling Group
Mustamäe SPA
Highlight-Mandate
- Advising Salling Group on the acquisition of RIMI Baltic, which operates retail chains in Latvia, Lithuania and Estonia.
Eversheds Sutherland Ots & Co
The team at Eversheds Sutherland Ots & Co continues to assist clients from a wide range of sectors with cross-border M&A deals and merger notifications. Practice head Maivi Ots is very experienced in handling matters relating to foreign investments, which Dmitri Zdobnõh is sought after for his expertise in advising on the tax law elements of corporate cases.
Praxisleiter:
Maivi Ots
Weitere Kernanwälte:
Dmitri Zdobnõh
Referenzen
‚Deep-rooted legal expertise, a client-focused approach, and an ability to provide strategic, business-oriented legal solutions.‘
‚The lawyers we work with don’t just provide legal advice, they act as advisors who understand the broader business context and can navigate complex matters with both technical precision and strategic foresight.‘
‚Strong team with strong individuals.‘
Kernmandanten
Agrone OÜ
Eesti Keskkonnateenused AS
EKT Teed
Laheotsa
IPF Digital
Kaupmees & Ko
Global Telecom Invest
Xolo
Admicom Oyj
Siena Ventures Partners
Toftan AS
FlowstepDesign
Clevon Investors AS
SCE E-Piim
ESTO Holdings OÜ
Textmagic AS
Oy Transmeri Ab
Karl Hedin Sågverk AB
Nuve Partners
Verston OÜ
Highlight-Mandate
- Assisted Karl Hedin Sågverk AB with the disposal of the ownership in Toftan AS to Combiwood Grupp OÜ.
TEGOS (Formerly TGS Baltic)
TEGOS (Formerly TGS Baltic)‘s practice, which is led by the quartet of Sander Kärson, Kadri Kallas, Leonid Tolstov and Indrek Ergma, has a strong foundation for assisting clients with a range of M&A transactions. The team is well known for advising international investors on cross-border mandates, as well as venture capital and private equity investment matters. The group is also well equipped to handle shareholder relations cases and corporate governance issues. The department is routinely instructed by life sciences, healthcare, real estate and energy sector entities. Mirko Kikkamägi is a practitioner to note.
Praxisleiter:
Sander Kärson; Kadri Kallas; Leonid Tolstov; Indrek Ergma
Weitere Kernanwälte:
Mirko Kikkamägi
Referenzen
‚Excellent collaboration.‘
Kernmandanten
EQT Infrastructure VI
CUK Ubezpieczenia
Bolt Technology
SmartCap
Diotech OÜ
Rickman Trade
Dual Europe GmbH
Värska Originaal
University of Tartu
Clear Channel Outdoor Holdings, Inc.
Dawn Capital
EFA Holdings Plc
TÜV SÜD
3Dot Holdings Limited
1Home Group AS
Earthtide Labs OÜ (Soldera)
IVC Evidensia
Verge Eesti
AS ESTIKO
Bioforce Group OÜ
Highlight-Mandate
- Advised OneMed on its acquisition of a 100% stake in ITAK OÜ (ITAK).
- Advised Dawn Capital on an investment into Blackwall’s €45 million Series B investment round.
- Advised the Tallinn City Government on legal and tax matters relating to merging several Tallinn-owned healthcare providers into a single unified entity, Tallinn Hospital.
WALLESS
WALLESS handles large-scale M&A transactions adeptly, often on a pan-Baltic basis, with the Estonian team working in tandem with the firm's Latvian and Lithuanian offices to support clients on mandates. Practice co-heads Rolan Jankelevitsh and Kuldar-Jaan Torokoff are highly regarded M&A practitioners, and Karl-Erich Trisberg and Minni-Triin Park are well known for representing prominent international and Estonian financial institutions in corporate matters. Margus Kõiva is very experienced in assisting real estate clients with transactions, and Toomas Taube is a specialist in corporate law. Kaisa Üksik has a solid track record in advising on corporate restructurings.
Praxisleiter:
Rolan Jankelevitsh; Kuldar-Jaan Torokoff
Weitere Kernanwälte:
Minni-Triin Park; Karl-Erich Trisberg; Kaisa Üksik; Toomas Taube; Margus Kõiva
Referenzen
‚Professionalism, excellent communication skills, and a readiness to work in challenging time frames.‘
‚Flexibility, vast knowledge.‘
‚Rolan Jankelevitsh is a person we do not hesitate to turn to on any corporate, taxation and business matters.‘
Kernmandanten
ICA Gruppen
HeidelbergCement
Nortal
Bregal Milestone
éolane Tallinn
Bigbank Group
Alludo
LMT
Magnetic MRO Group
Mandatum Life Insurance Company
Šiaulių Bankas
Capitalica Asset Management
LHV Group
Elisa Oyj
Lidl Estonia
Phoenix Group
Swedbank
NORDWOOD
Enterstore a.s.
Highlight-Mandate
- Acted for ICA Gruppen in a €1.3 billion exit from the Baltic Market via the sale of Rimi Baltic Group to Salling Group.
- Advised Bregal Milestone on the acquisition of Ridango.
KPMG Law in Estonia
KPMG Law in Estonia has notable credentials in assisting construction and food production clients with M&A transactions, as well as working alongside the firm's tax team to advise on tax structuring matters and the tax aspects of cross-border mergers. Managing partner Sten Luiga co-heads the practice with transactions expert Priit Pahapill, who joined the team in September 2025. Karin Oras left the firm in December 2024.
Praxisleiter:
Sten Luiga; Priit Pahapill
Weitere Kernanwälte:
Kaia Kuusler; Sandra Metsamärt
Referenzen
‘Good availability.’
Kernmandanten
LEONHARD WEISS OÜ
AS Maag Group
Baltic Workboats AS
Combiwood Grupp OÜ
Everaus Kinnisvara OÜ
TIMBER AS
Rannarootsi Lihatööstus AS
Flexa 4Dreams Holding A/S
Merger Holding OÜ
DSV Estonia AS
OÜ NOBE
Highlight-Mandate
- Advised Maag Grupp on the divestment of shares in Rannarootsi Lihatööstus AS and two related group companies to Rannarootsi Lihatööstus’s executive management.
- Acted for Flexa4Dreams Holding A/S in the sale of Flexa Eesti AS to AS Viiratsi Saeveski.
- Acted for Merger Holding OÜ and OÜ Adeo Trade in the sale of OÜ ITAK to OneMed OÜ.
LEADELL Pilv
Under the leadership of Pirkka-Marja Poldvere, LEADELL Pilv's team is well-equipped to assist clients with corporate governance issues. The group continues to be kept busy advising on commercial and corporate agreements and contracts. Poldvere is very experienced in handling board liability matters, and managing partner Aivar Pilv is sought after for his expertise in cases involving shareholder relations. Marko Pilv 'understands the nuances of business law and corporate governance well'.
Praxisleiter:
Pirkka-Marja Põldvere
Weitere Kernanwälte:
Marko Pilv; Aivar Pilv
Referenzen
‚They have a good mix of very experienced team members.‘
‚Marko Pilv understands the nuances of business law and corporate governance well.‘
‚They involve us throughout the proceedings, provide recommendations based on best practices, and always highlight what should or should not be done, explaining the reasoning clearly.‘
Kernmandanten
Hitachi Energy Estonia AS
Avatud Lahendused OÜ
So Posh OÜ
Richter Gedeon Vegyeszeti Gyar Reszvenytarsasag Eesti Filiaal
Institute of the Estonian Language
EHC Lootsi OÜ
Bimmer Motors OÜ
Baltic Sea Bunkering OÜ
Swappie OY
LVM Kinnisvara OÜ
Highlight-Mandate
- Advising So Posh OÜ on distribution contracts.
- Advising LVM Kinnisvara OÜ on general commercial matters.
- Acting as counsel to Hitachi Energy Estonia AS on a range of corporate and regulatory matters.
LINKLaw
LINKLaw has a practice which is sought after by clients in the film sector for its excellent track record in assisting with pre-production agreements. The group is equally adept at advising start-ups and prominent corporations on a broad spectrum of corporate and commercial matters, including drafting service agreements and commercial contracts, shareholder agreements, and corporate transactions. Practice head Kairi Kurisoo-Pärn is very well known for handling M&A transactions. Maksim Kozlov is a practitioner to note.
Praxisleiter:
Kairi Kurisoo-Pärn
Weitere Kernanwälte:
Kaarel Tammar; Maksim Kozlov
Referenzen
‚What I value most is their ability to combine strong technical knowledge with a practical business sense. Their advice is always clear, actionable, and delivered with efficiency.‘
‚Kaarel Tammar has been outstanding. He combines professionalism with a business-oriented approach, providing guidance that is precise and practical. Kaarel is approachable, engaged, and always ready to find solutions.‘
‚They approach their assignments with great seriousness and delve deeply to ensure the client achieves the best possible outcome.‘
Kernmandanten
Asymmetric Studios OÜ
Tomra Service OÜ
Telliskivi TLN OÜ
Articard OÜ
GENIUS SPORTS SERVICES EESTI OÜ
Harju Elekter Group
Reyktal AS
Ragn-Sells AS
Tallinna Jäätmete Taaskasutuskeskus AS
AS Eesti Raudtee
SailSafe OÜ
Magnusson
Magnusson's team is well known in Estonia for assisting multinational entities with a broad range of commercial work. The group's workload includes handling shareholder agreements and corporate governance issues. Practice head Jaanus Mägi is highly regarded for his M&A expertise. Nele Laas is a name to note. Priit Pahapill left the firm in September 2025.
Praxisleiter:
Jaanus Mägi
Weitere Kernanwälte:
Nele Laas
Kernmandanten
Elers Medical Finland Oy
Furnico OÜ
Inter Cars
Flixbus
Põhjala
Pro Farm
Orifarm
Estonian Marketing Association
Highlight-Mandate
- Advised Inter Cars S.A.. on a wide range of corporate matters, such as franchise agreements and operational agreements.
- Advised FlixBus on the commercial and regulatory framework for conducting operations in Estonia.
- Advised Pro Farm on a range of corporate matters.
NJORD Law Firm
NJORD Law Firm is home to a team which 'combines strong local expertise with an international mindset'. The group's workload includes regulatory and compliance advice, corporate governance issues, restructuring processes and shareholder agreement matters. The department is regularly instructed by small- and mid-size businesses in mandates. Erik Salur is at the helm of the practice; he is ably supported by Henrik Link, who brings experience in handling cases concerning shareholder relations.
Praxisleiter:
Erik Salur
Weitere Kernanwälte:
Henrik Link
Referenzen
‚Henrik Link is straight to the point.‘
‚The lawyers are approachable, pragmatic, and proactive. They focus on practical business outcomes and consistently go the extra mile.‘
‚The team combines strong local expertise with an international mindset. They stand out for their responsiveness, adaptability, and ability to simplify complex cross-border issues.‘
Kernmandanten
Ultra Corporation
Xolo
Sutu
Mifundo
Coursy Technology
Estonian Japan Trading Company
Vabatahtlik Reservpäästerühm
Future Food Now
Sumitomo Corporation
Highlight-Mandate
- Advised Milectria Group Oy on the exit from their Estonian business and sale to HANZA AB.
- Advised Sumitomo Corporation on an M&A deal to acquire a 50% stake in an offshore windfarm development.
RASK Attorneys-at-Law
RASK Attorneys-at-Law has a practice which caters to clients in the financial services, energy, construction and real estate sectors in relation to corporate transactions. Ramon Rask, Karl-Kristjan Kahm and Annika Vait co-head the department. Timo Kullerkupp is highly regarded for his expertise in handling M&A deals.
Praxisleiter:
Ramon Rask; Karl-Kristjan Kahm; Annika Vait
Weitere Kernanwälte:
Timo Kullerkupp
Referenzen
‚Working with RASK Attorneys-at-Law has always been a smooth and positive experience. The team is supportive and very approachable, making complex legal matters easier to navigate. They respond quickly to questions, provide practical advice, and are strong professionals.‘
‚Annika Vait is knowledgeable, reliable, and always ready to offer clear guidance. Her responsiveness, problem-solving skills, and friendly approach make her a pleasure to work with.‘
‚The Commercial, Corporate and M&A practice at RASK Attorneys-at-Law stands out for its highly personal and committed approach to supporting clients. In our experience, the team was exceptionally responsive, clear, and precise in their guidance, ensuring that all necessary matters were handled efficiently and to a high standard.‘
Kernmandanten
EfTEN Kristiine OÜ
Bisly OÜ
Kestliku Ettevõtluse Liit KELL
Air Baltic Corporation AS
SmartLynx Airlines Estonia OÜ
Meliva AS
Zenith Family Office OÜ
Evecon OÜ
AS Modera
MAVE Varahalduse OÜ
Triniti
Triniti‘s corporate, commercial and M&A practice has established expertise in representing a broad range of clients, ranging from start-ups to state-owned entities, in transactional matters. Siim Maripuu spearheads the department, in which Ergo Blumfeldt and transactions expert Tõnis Tamme are names to note. Karin Oras joined the team in January 2025.
Praxisleiter:
Siim Maripuu
Weitere Kernanwälte:
Tõnis Tamme; Karin Oras
Referenzen
‚The partners at Triniti are very flexible and quickly offer competent solutions.‘
‚Very quick and professional approach, top-notch knowledge.‘
Kernmandanten
äio tech OÜ
Patchstack OÜ
Utilitas
Nordica
UG Investeeringud OÜ
Thermory AS
Rail Baltic Estonia
Transpordi Varahaldus
City of Tallinn
Lemonadestand OÜ
Amserv Grupi AS
AS Eesti Vanglatööstus
AS Mainor Ülemiste
Everaus Kinnisvara AS
Viirelaid Thailand Villas OÜ
Highlight-Mandate
- Advised Medicum Valduse OÜ on the sale of a majority stake in the Medicum Group to Livonia Partners.
Hedman Partners
With a strong presence in both Estonia and Finland, Hedman Partners is well-known for its track record in handling mandates for clients in the technology sector. Led by Kati Pino, the group routinely assists fintech companies with transactional work, and Brigitta Jõgi brings experience in advising on corporate restructurings. Merlin Seeman represents international and Estonian start-ups in a wide range of corporate and commercial matters. Taavi Kõiv left the firm in March 2025.
Praxisleiter:
Kati Pino
Weitere Kernanwälte:
Brigitta Jõgi; Merlin Seeman
Referenzen
‚Hedman Partners combines decades of business law experience with sharp, practical advice across international and Finnish-Estonian transactions.‘
Kernmandanten
Qminder OÜ
UniTartu Ventures OÜ
DriveX Technologies OÜ
Adact OÜ
NordicNinja VC Limited
VK16 OÜ
POS11 OÜ
Swarmer, Inc
Highlight-Mandate
- Advised Adact OÜ on its acquisition by Optimove.
- Assisted Qminder OÜ with a group restructuring as part of a €3 million fundraising matter.
- Advised NordicNinja VC on legal and regulatory due diligence matters relating to the client’s $23 million series B round investment in Lightyear.
NOVE
NOVE's team continues to handle a high volume of corporate and commercial work, including restructurings, transactional matters and shareholder issues. Laura Raadik heads up the practice.
Praxisleiter:
Laura Raadik
Weitere Kernanwälte:
Arsi Pavelts
Referenzen
‚The team has a very personal, down to earth, focused approach.‘
‚Laura Raadik is very well versed in corporate law, and has guided us through several complex transactions with exceptionally well-kept deadlines, delivery, quality, and depth.‘
‚They are good if you have a challenging case.‘
Kernmandanten
ValueSpace OÜ
Kinnisvaravalduse AS (Rimi)
Finnlog OÜ
Medemis OÜ
Good Bits Studio OÜ
Bildgren Ehitus OÜ
Danpower Eesti AS
Billerud Estonia OÜ
BLT Holding OÜ
Cargoson OÜ
Highlight-Mandate
- Advised a minority shareholder of BLRT Grupp on the sale of shares to majority shareholders.
WIDEN
At WIDEN, the team has a solid track record in advising on the regulatory compliance aspects of M&A transactions, as well as handling due diligence, share purchase agreements and contractual matters. Kristi Sild and Ants Karu co-head the practice; Karu is well-known for assisting with the tax aspects of M&A deals. The client roster includes prominent Estonian companies in the financial services, insurance, and fintech sectors. Martin Nikolajev is a name to note.
Praxisleiter:
Kristi Sild; Ants Karu
Weitere Kernanwälte:
Martin Nikolajev
Referenzen
‚WIDEN’s team combines real technical mastery with a down-to-earth, client-first approach. Working with them, you immediately notice how seamlessly deep legal knowledge translates into practical, business-driven solutions. Ants Karu is at the heart of this – his decades of experience mean he sees not just the legal issues but the bigger commercial picture. He has that rare ability to explain complex matters with clarity, making clients feel confident and in control. What also stands out is the dynamic support from Martin Nikolajev. He brings energy, precision, and a remarkable ability to keep large, high-pressure transactions moving smoothly. Together, they create a team that feels both highly capable and approachable – you always know they are available, attentive, and deeply invested in getting the best outcome.‘
‚Ants Karu genuinely stands apart in the Estonian market. His combination of corporate and tax expertise gives him an edge that many competitors simply don’t have. In practice, this means he doesn’t just solve problems as they appear — he anticipates them, and often finds creative, tax-efficient ways to structure deals that make life easier for the client long after the transaction is complete. Beyond the technical ability, I’ve valued his calm, pragmatic style. He is approachable, easy to speak with, and has an extraordinary ability to explain complex matters clearly. That kind of clarity is rare and incredibly reassuring when decisions are high-stakes. Working alongside him, Martin Nikolajev brings an energy and sharpness that complements Ants perfectly. In high-pressure situations, he is reliable, detail-focused, and remarkably quick to respond. Together, they bring a combination of deep experience and fresh perspective. They make complex corporate and M&A work not only manageable but truly client-friendly.‘
‚A dynamic and passionate team with a fresh, modern approach.‘
Kernmandanten
Arco Vara
Alfasan Holding B.V.
ESRO AS
Jacquet Metals
TBB Pank AS
Delfi Meedia AS
Modena Group
Rail Baltica
Musti Group Nordic Oy
Highlight-Mandate
- Advised Arco Vara AS on the acquisition of the Luther Quarter in central Tallinn.
- Advised Alfasan Holding B.V. on the acquisition of majority shareholdings in Estonian pharmaceutical manufacturing companies, the establishment of a joint venture for veterinary pharmaceuticals, and related corporate, financing, and tax matters.
- Advised Musti Group Nordic Oy on its €18 million cross-border acquisition of Pet City operations in Estonia, Latvia, and Lithuania.