Mirko Kikkamägi

Mirko Kikkamägi

Senior Associate
Tallinn, Estonia

Mirko Kikkamägi specialises in mergers and acquisitions, corporate law, banking and finance, private equity and venture capital.

  • About

    Mirko Kikkamägi has extensive international experience. He specialises in mergers and acquisitions, corporate law, banking and finance, private equity and venture capital.

    In addition to working at another leading Baltic law firm and as in-house legal counsel at Swedbank, the largest bank in Estonia, Mirko also has experience working in the Frankfurt office of Clifford Chance, a leading multinational law firm.

    During his time at Clifford Chance, he was part of an English law team, where he specialized in financing transactions in Central and Eastern Europe and Southeastern Europe, including Turkey. More specifically, Mirko has experience with investment-grade transactions, leveraged finance transactions, real estate finance transactions, export finance transactions and developing markets transactions.

  • Major Projects
    • 16.01.2024

      TGS Baltic advised Estonia’s state fund SmartCap on making an investment into Estonian deeptech startup Up Catalyst in its 4MEUR seed round

      TGS Baltic advised AS SmartCap Green Fund on making an investment into Estonian deeptech startup Up Catalyst in its 4 MEUR investment round led by German climate tech VC fund Extantia, supported by SmartCap along with the existing investors Sunly, Little Green Fund, Scottish Baltic Invest, and UniTartu Ventures.

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    • 03.01.2024

      TGS Baltic assisted Enefit Green AS with selling Brocēni pellet mill and cogeneration plant in Latvia to Warmeston OU, the leading Estonian wood pellet producer.

      Enefit Green AS has agreed to divest Brocēni pellet mill and biomass CHP plant to Warmeston OU by selling 100% shares of Enefit Green SIA (now Warmeston SIA) and SIA Technological Solutions. Brocēni business includes a pellet mill and a biomass cogeneration plant, both built in 2016.

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    • 29.11.2023

      TGS Baltic assisted Enefit Green AS with selling Paide and Valka district heating businesses in Estonia and Latvia to AS Utilitas Eesti, Estonia's largest district heating company.

      Enefit Green AS has agreed to divest Paide and Valka district heating businesses to AS Utilitas Eesti by divesting Paide business and 100% shares in the Valka district heating company SIA Enefit Power & Heat Valka. In Paide, the transaction consists of a district heating enterprise whose assets include a cogeneration plant commissioned in 2015, a biomass boiler plant, a reserve boiler house, and a solar park.

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    • 24.10.2023

      TGS Baltic advised the private equity fund BaltCap on the acquisition of VKG Elektrivõrgud

      TGS Baltic advised BaltCap, the leading Baltic private equity fund on entering into the agreement for the acquisition of VKG Elektrivõrgud. VKG Elektrivõrgud is the second largest regulated distribution network in Estonia after the state-owned Elektrilevi.

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    • 13.10.2023

      TGS Baltic advised Hawesko on entering into a strategic partnership with the Dunker Group

      TGS Baltic represented the stock exchange listed premium wines trading group Hawesko who is entering into a strategic partnership with the Dunker Group, the leading wine and spirits wholesale trading group in the Baltics, and in this context is acquiring 50 percent of the shares in Dunker Group OÜ. 

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    • 12.10.2023

      TGS Baltic advised Paul-Tech in attracting an investment of 1.4 million from leading Estonian venture capital investors

      TGS Baltic advised the client throughout the entire transaction, from the negotiation and preparation of Estonian transaction documents to the completion of the transaction. The investment round was led by the Estonian venture capital fund Superangel, in which SmartCap, Honey Badger Capital, Estonian Business Angels Network (EstBAN), Tatoli AS, Overkill VC and business angels from Sweden participated.

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    • 12.09.2023

      TGS Baltic advised Värska Originaal, the leading mineral water producer in Estonia, on a buyout of its minority shareholders and refinancing of the company

      TGS Baltic acted as a legal adviser to Värska Originaal and its shareholders. Our team advised on negotiating the terms of the transaction in which the client acquired additional shares of Värska Originaal.

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    • 30.04.2023

      TGS Baltic advised LiTech on securing €500,000 investment from Estonian venture capital investors 

      TGS Baltic team has advised data traceability software developer LiTech OÜ on raising €500,000 in investments from several Estonian venture capital investors. TGS Baltic Senior Associates, Mirko Kikkamägi and Silvia Urgas, advised the client throughout the transaction, from negotiating and drafting transaction documents to finalizing the deal.

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    • 10.02.2023

      TGS Baltic advised venture capital fund NFT.VC on making an investment into FoodTech startup äio tech OÜ

      TGS Baltic advised the client during the entire transaction, from legal due diligence of äio tech OÜ until negotiation and finalisation of the transaction documents and closing of the investment into äio tech OÜ.

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    • 06.02.2023

      TGS Baltic advised VOOL on raising 1.7 MEUR investment

      TGS Baltic advised VOOL, a start-up developing a complete electric car charging solution, on raising 1,7 MEUR investment. The investment round included leading Estonian venture capital investors as well as various known angel investors, including the former President of Estonia, Kersti Kaljulaid.

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    • 08.11.2022

      TGS Baltic advised the founder of SpiderFoot, a best-in-class provider of open-source intelligence, attack surface management and digital investigations

      TGS Baltic advised on the sale of SpiderFoot to Intel 471 Inc., the premier provider of cybercrime intelligence for leading security, fraud, and intelligence teams in the world.

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    • 21.09.2022

      TGS Baltic advised on a EUR 11.6 million investment transaction in Estonia

      TGS Baltic advised the venture capital fund Inventure on leading the financing round by which EUR 11.6 million was raised for the startup Jobbatical, which provides relocation and immigration services for international companies.

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    • 14.08.2022

      TGS Baltic advised Starship Technologies in obtaining EUR 50,000,000 loan from European Investment Bank

      TGS Baltic acted as local Estonian counsel and advised the client on all Estonian law matters, from negotiation and finalisation of the security package for Estonia until closing of the financing.

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    • 18.05.2022

      TGS Baltic advised Truffle Capital on leading a 5.5 MEUR investment into insurtech startup Cachet

      Law Firm TGS Baltic advised the European fund Truffle Capital SAS on leading a 5.5 MEUR investment round into startup Cachet, which provides smart insurance solutions. TGS Baltic advised the client during the entire transaction, from legal due diligence of Estonian companies to drafting and negotiating the transaction documents and closing the investment.

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    • 31.03.2022

      TGS Baltic advised ZAKA Startups who led the Alpha AR investment round

      TGS Baltic advised ZAKA Startups on leading a EUR 728,000 investment round in Alpha AR OÜ. Alpha AR plans to use the raised financing to develop its 3D-modelling platform.

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    • 27.02.2022

      TGS Baltic advised Open Air Group AB

      TGS Baltic advised Open Air Group AB, a holding company focusing on products for hunting and outdoor, currently active in Finland, Sweden and Norway in a transaction, where Open Air Group AB acquired Aclima, the leading manufacturer of professional and outdoor merino wool clothing in the Nordics.

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    • 01.02.2022

      TGS Baltic advised BaltCap on the sale of BPT Real Estate, one of the largest property management companies in the Baltics, to Newsec

      TGS Baltic advised BaltCap, the largest private equity investor in the Baltic region, selling one of the largest property management companies in the Baltics – BPT Real Estate.

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    • 06.01.2022

      TGS Baltic assisted OptiGroup with its acquisition by FSN Capital.

      On 18 December 2021, FSN Capital VI signed an agreement to acquire OptiGroup and the Dutch company Hygas to create a European Group in the business-to-business distribution industry. FSN Capital VI will be the leading shareholder in the combined Group, and OptiGroup’s current shareholders, Altor Fund II, Triton II Fund and RoosGruppen AB will remain as minority owners. The transaction is expected to be finalised in the first quarter of 2022 subject to customary statutory approvals. The parties have agreed not to disclose the details of the transaction.

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    • 09.09.2021

      TGS Baltic advised the venture capital fund OTB Ventures as the lead investor in Fractory’s 7.5 MEUR Series A round

      The transaction is the first investment of the venture capital fund OTB Ventures in Estonia and is also one of the largest early-stage capital raisings in Estonia. OTB Ventures operates mainly in Central and Eastern Europe and focuses on early-stage high-tech start-ups. With the investment, the start-up Fractory, which is developing a cloud-based metal work ordering platform, plans to grow its team and enter new markets in the USA, France, and Italy.

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    • 26.07.2021

      We advised Merko Ehitus Eesti on acquisition of 35% holding in Connecto Eesti

      TGS Baltic advised Merko Ehitus Eesti AS, the largest construction and property development company in Estonia, on the acquisition of a 35% holding in the company Connecto Eesti.

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    • 01.07.2021

      We advised BaltCap in its exit from the leading Estonian waste management company AS Eesti Keskkonnateenused.

      TGS Baltic advised BaltCap, the largest private equity fund manager in the Baltic states, in its exit from the leading Estonian waste management company AS Eesti Keskkonnateenused.

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    • 10.05.2021

      We advised FitSphere on raising seed-round investment from various investors

      TGS Baltic drafted the relevant transaction documents and advised the client on the whole process from negotiating the shareholders’ agreement with the lead investor to finalising the capital raising.

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    • 05.01.2021

      TGS Baltic assisted investment company De Maria Project in acquisition of Energate

      TGS Baltic assisted investment company De Maria Project in the acquisition of Energate, a natural gas distribution, sales and network development company in Estonia, from a group of private financial investors led by investment company Capital Mill.

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    • 21.12.2020

      TGS Baltic advised the sale of one of the newest and most modern fuel terminals in Estonia

      We advised the sale of AS Kroodi Terminal, one of the newest and most modern fuel terminals in Estonia and MK Kamion OÜ, a fuel wholesaler, to Terminal Oil OÜ.

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    • 15.12.2020

      TGS Baltic advised Mubadala Investment Company on 14 million dollar investment in MEL Science

      MEL Science has raised USD 14 million in Series B funding from investors to support expansion of its subscription-based science education business.

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    • 24.11.2020

      We are advising a US Nasdaq listed leading business-to-business supplier of internet gaming software-as-a-service solutions Gan Limited on acquisition of online gaming platform Coolbet

      TGS Baltic are advising Gan Limited on all Estonian law aspects, from conducting legal due diligence and advising on regulatory matters to assisting the client in the finalisation of the transaction documents.

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    • 30.09.2020

      We advised Estateguru’s equity fundraising campaign on Seedrs

      TGS Baltic advised Estateguru’s equity fundraising campaign on Seedrs, an equity crowdfunding platform based in London, UK, raising approximately EUR 900,000 from more than 1,100 Seedrs’ investors, accompanied by another investment of EUR 100,000 from Estonia and converting loans from previous rounds into the equity of the company.

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    • 05.02.2020

      We advised Nasdaq-listed fintech company Opera on the acquisition of Pocosys

      TGS Baltic advised the Opera group, which is listed on stock exchange Nasdaq in the USA, on entry into a contract of purchase for the acquisition of fintech company Pocosys and its sister company, a licensed payment institution, Pocopay from Poco Holding where Indrek Neivelt has a large shareholding.

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    • 31.12.2019

      TGS Baltic advised Veho on selling its subsidiary

      TGS Baltic advised the largest car dealership in the Scandinavian and Baltic region Veho on selling its subsidiary Veho Eesti AS. In addition, we advised in the sale of two registered immovables where Veho car show rooms operate. Established in 1992, Veho Eesti was, until now, engaged in import of Citroën passenger cars and utility vehicles and retail sale of Honda.

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    • 10.11.2019

      TGS Baltic advised the shareholders of OÜ Eesti Digiraamatute Keskus in selling a majority shareholding to a leading Russian publisher OOO “LITRES”

      TGS Baltic advised the shareholders of OÜ Eesti Digiraamatute Keskus in selling a majority shareholding in OÜ Eesti Digiraamatute Keskus to OOO “LITRES”, a leading Russian publisher as well as no. 1 ebook distributor and seller in Russia.

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    • 24.10.2019

      TGS Baltic advised Global Rubber Industries (Pvt) Ltd in purchasing the shares of Nortire OÜ

      TGS Baltic advised Global Rubber Industries (Pvt) Ltd in purchasing the shares of Nortire OÜ, a leading distributor of speciality tires in the Baltics, Belarus and Western Russia.

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    • 23.07.2019

      Advising JPJ Group plc on the acquisition of Gamesys (Holdings) Ltd

      TGS Baltic’s M&A team, consisting of partner Kadri Kallas and junior counsel Mirko Kikkamägi, advised London-listed online gaming operator JPJ Group plc on the Estonian law aspects of its £490m conditional acquisition of Gamesys (Holdings) Limited.

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    • 16.07.2019

      Advising Creandum on making an investment into Klaus

      TGS Baltic advised Creandum, the leading European early-stage venture capital firm, on making an investment into the Tallinn-based startup Klaus (formerly Qualitista), a customer support platform.

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    • 10.04.2019

      Advising Ares Management regarding USD 120 million financing agreement with Teligent

      TGS Baltic's team, led by Partner Sander Kärson, advised Ares Management, a global alternative asset manager, on Estonian law matters for a USD 120 million financing agreement with Teligent, Inc., a U.S. Nasdaq-listed specialty generic pharmaceutical company active in the United States, Canada and Estonia.

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    • Advising two leading Turkish banks in arranging a syndicated loan for Klockner Pentaplast

      Member of the team advising two leading Turkish banks, Garanti Bankasi and Odeabank, in arranging a TL 75 million syndicated loan for Klockner Pentaplast, a German multinational and a global leader in rigid and flexible packaging, printing and specialty solutions, and Farmamak, a leading rigid folio producer in Turkey.

    • Advising UniCredit Bank regarding the financing for the acquisition of Invitel Gruppe

      Member of the team advising UniCredit Bank with the structuring and procurement of the financing for the acquisition of Invitel Gruppe, one of the larges Hungarian telecom companies, by CEE Equity Partners, a leading Central and Eastern European investment fund. The total financing package was around 130MEUR.

    • Advising European Lingerie Group AB in the acquisition of Dessus-Dessous

      Advising European Lingerie Group AB in the acquisition of Dessus-Dessous, a French leader in online sales of lingerie since 2000.

  • CV

    Memberships

    2019
    Estonian Bar Association
    2015
    ILF Alumni Association
    2004
    Estonian Debating Society

    Professional career

    Since 2023
    Senior Associate, law firm TGS Baltic
    2019-2023
    Associate, law firm TGS Baltic
    2017–2018
    Lawyer, law firm Ellex Raidla
    2015–2017
    Lawyer, law firm Clifford Chance (Germany)
    2015
    Intern, law firm Clifford Chance (Germany)
    2011–2014
    Lawyer, Swedbank
    2010
    Intern, Southern District Prosecutor's Office
    2010
    Intern, law firm Tamme & Otsmann
    2009
    Intern, Estonian Ministry of Foreign Affairs

    Education

    2016
    BPP Law School (London), GDL
    2014–2015
    Goethe University (Frankfurt), Institute for Law and Finance, LLM
    2013
    University of Tartu, Faculty of Law, BA
    2009
    University of Helsinki, Summer Seminar
  • Publications