Capital Mill and Estmak Capital sold the energy company Energate
The owners of Capital Mill and Estmak Capital sold the gas company Energate, which has been successfully valued since its acquisition in 2016.
Marko Kull, a partner of Capital Mill, engaged in real estate development, said that the capital released from the sale transaction will be directed to new real estate developments and electricity generation.
“Under the leadership of Capital Mill, Energate has grown significantly over the past four years. It is an attractive and profitable gas company, the sale of which will put a dignified end to operations in 2020,” said Kull and confirmed that despite the new transaction, the energy sector is still an interesting business direction for the Capital Mill team.
Energate’s sale was advised on the sellers’ side by the law firm Ellex Raidla and Redgate Capital, a leading independent investment banking company in the Baltics, which advises medium-sized companies on raising capital and conducting mergers and acquisitions and real estate transactions.
“Investors’ interest in energy and infrastructure companies is still high in Estonia. Energate has already proven itself in the market and continues to have strong growth potential. I believe that under the new owner, the company will grow even more and at the same time the former owners will be able to focus on their core business,” commented Mart Altvee, partner of Redgate Capital.
Capital Mill and Estmak Capital were advised on the sale of Energate by Ellex Partner in Estonia Ermo Kosk and Senior Associate Sandra Värk.