WIDEN advised ETS NORD in a strategic M&A deal

7 августа, 2024

ETS NORD AS has gained a new strategic partner in Soler & Palau Ventilation Group. According to the agreement signed on July 18, 2024, Soler & Palau acquired a minority stake in ETS NORD from its current owners and shall make an investment in the Estonian company. WIDEN assisted ETS NORD AS in the preparation, negotiation and closing of the transaction. Our team was led by partner Ants Karu and assisted by attorney Martin Nikolajev.

ETS NORD is one of the largest companies specialising in complete ventilation solutions in Northern Europe, with more than 25 years of experience. The company develops and manufactures ventilation equipment that ensures a clean and healthy indoor climate, is sustainable and environmentally friendly. EST NORD’s 500 highly qualified specialists are active in four different countries.

Soler & Palau’s investment will be directed towards product development and acquisition of new technologies. ETS NORD will continue to operate under the current management and the transaction will not require any changes in the business strategy. However, the involvement of the new investor will create new opportunities for ETS NORD to expand its product range and increase exports. In the long term, by 2028, Soler & Palau plans to acquire a majority stake in ETS NORD.

“We decided to partner with Soler & Palau because we see them as a strong and financially well-secured global partner capable of elevating ETS NORD’s products and services to a new level,” said Urmas Hiie, Chairman of the Board at ETS NORD. “This new investor allows us to expand our product range through S&P’s network into new markets, particularly in Europe, as well as the Middle East and Asia,” Hiie added. Through ETS NORD, S&P will also be able to market its products in Sweden and Finland, where the Estonian manufacturer has been operating for 15 years.

Soler & Palau is a Spanish company with more than 70 years of experience that develops and manufactures ventilation products for the residential, commercial and industrial sectors, operating in 90 countries on four continents and employing more than 6,000 people. The scale of the company is demonstrated by the fact that every six seconds a Soler & Palau product is sold somewhere in the world.