TGS Baltic | View firm profile
TGS Baltic team assisted TÜV SÜD AG, a global provider of testing, inspections and certification solutions,with the acquisition of Carspect Group Holding AB, with subsidiaries in Sweden: Carspect Group AB, Carspect Sweden Holding AB, and Carspect AB, in Estonia – Osaühing A-Ülevaatus, and Latvia – Scantest SIA, from IK Partners group company Arwen International S.à.r.l. and minority sellers.
The Stockholm-based Carspect Group operates more than 150 test centres for periodic technical inspections of vehicles (PTIs) and other associated vehicle-related inspection services in Sweden, Latvia and Estonia. The service offering includes periodic technical inspections (“PTIs”), registration inspections, voluntary checks, and related services for passenger cars, light trucks, buses, and lorries.
TÜV S��D AG provides testing, inspection and certification solutions worldwide. Represented by almost 28,000 employees located across over 1,000 locations.
With the acquisition of Carspect, TÜV SÜD now has presence in the PTI market in nine countries. In addition to its home market of Germany, TÜV SÜD’s testing and inspection experts are already providing PTI services in Türkiye, Spain, Austria, Slovakia and South Africa.
TGS Baltic team led by the partners Kadri Kallas (Estonia) and Andra Rubene (Latvia) assisted Gernandt & Danielsson (Sweden) and Lupp + Partner (Germany) on all local law matters related to the Estonian and Latvian subsidiaries, including carried out due diligence, provided regulatory and transactional advice and assisted with both closing and post-closing matters related to the acquisition.
Senior associates Anna Vaivade, Aija Kreicberga, Māra Stabulniece and associate Ance Pavasare worked on the project in Latvia.
Estonian team consisted of partner Kirsti Pent, associate partner Triinu Järviste, senior associates Mirko Kikkamägi, Liisa Levandi, Siret Saks, Olger Kaelep, Mari Anne Rohtla, lawyer Aleksander Pajuri and associate Ingeri-Helena Kakko.
For more information, please visit: https://www.tuvsud.com/en/press-and-media/2024/august/tuev-sued-acquires-swedish-carspect-group and
https://ikpartners.com/2024/08/14/ik-partners-completes-the-sale-of-carspect-group-to-tuv-sud/