Arno Tammjärv, the owner of Estonian sawmill Barrus that manufactures window and door components in South Estonia, has sold the company to a Danish enterprise Inter-Invest A/S, writes aripaev.ee.
Although the purchase price is not public, it is estimated to have been between 50 million to 100 million kroons, based on the company's economic results from recent years. Barrus ended last year with the turnover of 152 million kroons, an increase of 1.1 times from 2008. Janar Tammjärv who will continue as the CEO of Barrus, said that the turnover this year should exceed 200 million kroons or 25% more than last year.
The company founded in 1993 exports about 70% of its output, mainly window, door and staircase components, to Scandinavia, Holland, UK and Italy. It employs 116 employees.
Keystone Advisers acted as advisor to the seller in the turnaround and sale of the company.
Keystone Advisers is a fully independent Corporate Finance firm offering advice related to mergers and acquisitions (M&A), divestitures, as well as various financing arrangements. The firm has advised on approximately 140 transactions to a variety of different clients in a number of sectors since the inception in 2000. Keystone Advisers is a Partner owned firm and where the founders have experience from Investment Banking and Management Consulting from some of the largest global institutions. We are a team of 12 Corporate Finance professionals at the Stockholm office and in addition we have an own organization in the Baltic countries. Keystone Advisers aims to be the leading mid-market M&A advisory firm in the Swedish market.