Ellex Raidla advised Harju Elekter AS with purchasing a majority holding in Energo Veritas OÜ
AS Harju Elekter purchased an 80.5% holding in Energo Veritas OÜ, a company trading in electrical materials and equipment. The transaction was completed on at 29 March 2017, when monetary settlements were also made.
With the purchase of Energo Veritas OÜ and establishment of a trade unit operating as a subsidiary of the Group, the Group increases its market share in Estonia, notably expands its offered product range, and creates prerequisites for boosting the sale of the Group’s products in Estonia and the Baltic states. The company focuses primarily on project-based trading activity.
After launching its activities in 1968, Harju Elekter Group has developed into a leading producer of MV/LV electrical and engineering devices in the Baltic countries and a known and respected manufacturer in Scandinavia. Harju Elekter’s main field of business is the development, manufacturing and sale of equipment necessary for the distribution and transmission of electric energy. The main business is supported by a sheet metal plant in Estonia and the development and leasing of industrial real estate. Harju Elekter Group’s plants in Estonia, Finland and Lithuania employ more than 500 specialists, and the annual sales revenue of the Group exceeds 60 million euros. Shares of Harju Elekter are listed on Nasdaq Tallinn.