Advising Astel Group on acquiring 95% ownership in Rakvere Metsamajand

30.10.2018 Advising Astel Group on acquiring 95% ownership in Rakvere Metsamajand

Estonian M&A team of TGS Baltic led by partner Sander Kärson advised Astel Group on acquiring 95% ownership in the oldest timber log houses manufacturer in the Baltics, Rakvere Metsamajand (acting under the trademark Nordic Timber Homes).

Astel Group is a group of companies that produce and install modular houses to the Estonian and Swedish markets. Advising included carrying out a legal audit, consulting on the transaction structure, and drafting transaction documents.

Astel is a manufacturer of timber log houses with more than 25 years of experience. Its range includes garden houses, saunas, garages, bigger summer houses etc. In production, different log profiles are used, as well as laminated prunes, the main raw material used is pine. Products are exported to Scandinavia and Europe, as well as to Japan and Australia.

Rakvere Metsamajand (Rakvere Forest Industry Ltd.) has been operating as a privately-owned company since 1994, when the current shareholders privatised it from the state. Over 45 ago, becoming the first one in the Baltics to produce milled log houses, the company started to manufacture very popular wooden sauna-cottages "SIMO". Nowadays Rakvere Metsamajand produces high-quality and eco-friendly wooden squared log houses and framehouses for numerous private and commercial uses, as well as windows, doors, terraces, barriers, stairs and wooden shutters.


Sander Kärson
Kärt Raud