AS Eesti Keskkonnateenused (“EKT Group”) concluded a contract on 20 June 2016 for the acquisition of the 100% holding in Jaakson Linnahooldus OÜ, a company the principal business of which was cleaning of streets in Tallinn. In this transaction AS Eesti Keskkonnateenused was advised by the team of Eversheds Ots & Co lead by Maivi Ots.

Peeter Saks, the managing partner of BaltCap and the Chair of the Supervisory Board of the EKT Group, said: BaltCap is pleased to have been able to support further growth of the EKT Group. Expansion in the municipal services sector is one of the strategic goals of the company and we are happy to admit that through this transaction a powerful step has been taken towards achieving this goal.

Argo Luude, the Chair of the Management Board of the EKT Group, added that as the EKT Group is already experienced in maintaining streets of other municipalities, the transaction was logical – in order to stay competitive we wished to grow in this area. “Jaakson Linnahooldus is a well managed company, with a track record in the field of business proven over the years,” he added.

Jüri Jaakson, the hitherto owner of Jaakson Linnahooldus OÜ admitted that he has been building this company from scratch for many years, and has contributed a large share of his life into it. “I have found that it is now time to pass the business into good hands and take things a bit easier myself,” he said.

It is intended to close the transaction in the summer of 2016, which is conditional on the approval of the Estonian Competition Authority. The parties do not disclose the value of the transaction.