Baltic M&A and Private Equity Forum 2018

The best insight into the
challenges and opportunities of
the Baltic M&A and private equity scene

The Baltic M&A and Private Equity Forum has become the
main networking event for the Baltic M&A industry and market
participants interested in the region.

We welcome representatives of private equity and venture capital funds and
investment banking, consultants, lawyers, investors, and other representatives of the
financial sector, as well as interested business executives and owners.

The forum is organised by SORAINEN and the Estonian business daily Äripäev, in partnership with the Baltic
business dailies Verslo žinios (Lithuania) and Dienas bizness (Latvia), the Latvian, Lithuanian and Estonian Private Equity and Venture Capital Associations.

Any questions? Contact us: jekaterina@aripaev.ee +372 667 0416 / Raido.Pajusi@aripaev.ee +372 667 0238

For sponsorship cooperation opportunities please contact Heleri.Loobas@aripaev.ee

 

A COLLABORATION OF

Sorainen Äripäev Verslo žinios Dienas bizness EstVCA
LTVCA LVCA
luminor

AGENDA

Stay tuned! We keep adding speakers. 
Day 1, 18 October
Day 2, 19 October

08.00 — 09.00 Registration and morning coffee

09.00 — 09.10 Opening Remarks


Meelis MandelMeelis Mandel Toomas PrangliToomas PrangliMeelis Mandel, Editor-in-Chief of Äripäev
Toomas Prangli, Co-Managing Partner of SORAINEN

09.10 — 09.40 Keynote address. Baltic security update. How likely is military conflict in the Baltic countries today and what does it mean for investors? (How vulnerable are the Baltic countries today?)   



Kristjan PrikkKristjan Prikk Kristjan Prikk, Permanent Secretary at the Estonian Ministry of Defence 
Kristjan Prikk has been the Permanent Secretary of the Ministry of Defence since August 2018, and has held high-responsibility jobs in the Prime Minister's Office, the Ministry of Defence and the Ministry of Foreign Affairs. He is one of Estonia’s leading defence experts. He holds a Master's level degree in Strategic Studies from the U.S. Army War College, is a reserve officer and a member of the Defence League.

09.40 — 10.10 Market overview. Catching up with new trends in Baltic M&A. Are you a trend maker or swimming upstream? 



Guntars KrolsGuntars Krols Henrik IgastaHenrik Igasta Moderator: Agnė Mažeikė, Baltics Correspondent at Mergermarket (LT) 
Guntars Krols, Partner at Ernst & Young (LV) 
Henrik Igasta, Managing Partner at Superia Corporate Finance (EE) 
Julijus Grigaliūnas, Managing Partner at Porta Finance (LT) 

Julijus GrigaliūnasJulijus Grigaliūnas

10.10 — 10.40 Panel discussion. Infrastructure projects. Why invest in Baltic infrastructure — or stay away?



Ville PoukkaVille Poukka Mārtiņš LazdovskisMārtiņš Lazdovskis Moderator: Matas Mockeliūnas, Investment Director of Baltcap Infrastructure Fund (LT)
Ville Poukka, Head of Infra Funds at CapMan (FI) 
Ville Poukka heads Finnish CapMan’s infra funds, which invest in the energy, transport and telecom sectors and recently closed a EUR 70 million deal. 
Mārtiņš Lazdovskis, Member of the Board of Latvian State Roads (LV)
Mārtiņš Lazdovskis will share insights on the Kekava bypass, a major road connecting Latvia with the Lithuanian border and will use the PPP financing model.

Tamas Szalai Tamas Szalai Tamas Szalai, Investment Director at CEE Equity Partners
Tamas Szalai is the Investment Director at CEE Equity Partners and responsible, among other regions, for the Baltics. CEE Equity Partners is advising two regional private equity funds: a new fund launched this year with commitments of USD 800m, and the first fund with 12 companies in its portfolio - none yet in the Baltics.

10.40 — 11.10 Coffee break 

11.10 — 11.40 Panel discussion. To invest or divest, that is the question. What do foreign investors who enter the Baltics find here? And what are the reasons behind decisions to leave?   



Ralph WagnerRalph Wagner Valērija LieģeValērija Lieģe Moderator: Liis Kängsepp, journalist and entrepreneur (EE)
Ralph Wagner, Co-Founder and COO of Axinom Group (DE) 
Valērija Lieģe, Partner at M&A Baltics, the Baltic member firm of Oaklins (LV)
Axinom, a company with subsidiaries in Germany, the USA and Estonia, provides cutting-edge software systems serving many of the world’s leading brands in the aviation, telecommunications and entertainment industries. M&A Baltics has successfully closed more than 160 different M&A transactions with a combined value exceeding EUR 3.5 billion and has been the lead consultant in many business transformation and change management projects.

11.40 — 12.00 From experience. Why did we acquire Estonian-founded visionary java developer ZeroTurnaround?    



Brian PierceBrian Pierce Brian Pierce, CEO of Rogue Wave (US) 
ZeroTurnaround’s technology is Java developers’ favourite tool, used by over 5,200 enterprise teams in over 90 countries, including 36 of the Fortune 100. Brian Pierce is a technology industry veteran who has led and built rapidly scaling businesses.

12.00 — 12.40 Investing in alternative assets.     



Kadri LaasKadri Laas Presenting Estonian Art Index. Can you put a price tag on emotion?
Kadri Laas, Manager at the Estonian Contemporary Art Development Center (EE)
Cultural manager and art lawyer Kadri Laas will present a new index she co-founded, which seeks to monitor Estonian art prices in recent decades and provide a tool for art investors.

Outside the Box: Investing private capital on an Opportunistic Basis?
Sanjeev Sarkar, Managing Director at Crestline (UK)
Sanjeev Sarkar, Managing Director at the firm, is a member of Crestline's Credit and Opportunistic Strategies team, which has closed over 75 transactions. Crestline Investors is an institutional alternative investment management firm headquartered in Fort Worth, Texas. Crestline provides corporate solutions in the lower middle markets with opportunistic and direct lending funds.

12.40 — 13.40 Lunch  

13.40 — 14.40  VCA session. Reality check. What are the most burning issues that investors are facing today?     



Baltic venture capital associations and their guests shed light on topics that keep investors up at night - are the valuation levels in the Baltics too high; emerging investment strategies in private equity; drawdown credit facilities, social investment funds etc.

14.40 — 15.00  Investor view. Why is the Baltic region attractive for German logistics powerhouse Hamburger Hafen und Logistik, new owner of Transiidikeskus?  



Philip SweensPhilip Sweens Philip Sweens, Managing Director of HHLA International GmbH
This year, over 100-year-old Hamburger Hafen und Logistik AG (HHLA) acquired Estonia’s biggest terminal operator Transiidikeskuse AS. The successful logistics and transportation giant HHLA announced that the acquisition enabled them to enter a promising regional market that offers growth potential as a result of its geographic position and its link to the ‘New Silk Road’. At the forum, German investors share their plans and the bigger picture that makes the region attractive for them.

15.00 — 15.20 From experience. What are the learnings from 20 years in international finance?   



Ragnar MeiternRagnar Meitern Ragnar Meitern, Managing Director at ING Bank and investor (EE/UK) 
Ragnar Meitern has built and led businesses and acted as an advisor to Fortune Global 500 corporates, private equity investors, governments and entrepreneurs across geographies. He has invested in FinTech companies such as Monese and Bondora and advised technology start-ups such as Taxify and Click and Grow.

15.20 — 15.50 Coffee break    

15.50 — 16.20  Keynote address. The birth of Luminor. What were the real challenges and victories behind the largest merger in the Baltics' financial history?    



Nils MelngailisNils Melngailis Nils Melngailis, Chairman of Luminor Group (LV) 
Combining the Baltic operations of DNB and Nordea was the largest transaction in the history of the Baltics, with the value of combined assets reaching EUR 13 billion.

16.20 — 16.40 From experience. How does an Estonian-born global taxi market disrupter drive and finance growth?      



Martin VilligMartin Villig Martin Villig,Co-Founder of Taxify (EE)
Taxify, founded by two brothers Markus and Martin ‒ then aged 19 and 34 ‒ has today grown into a global ride-sharing provider operating in 26 countries and competing with Uber. It has financed growth with rounds of investment, including from the Chinese Didi. At the forum Martin will speak about their ride.

16.40 — 17.00 Q&A. Summary of the day     

19.00 After-hours networking. Awarding last year’s M&A and Private Equity achievements. All participants are invited!  



Day 2, 19 October

09.30 — 10.00 Morning coffee

10.00 — 10.20 From experience. What is the most important hindsight wisdom of Magnetic MRO´s exit from the owner's perspective?   



Kristjan Kalda Kristjan Kalda Kristjan Kalda, Partner at BaltCap (EE) 
The exit of Magnetic MRO, the Tallinn-based aircraft maintenance company, was the largest transaction in BaltCap’s history. Having built a small regional player into a profitable global company, BaltCap sold it to Chinese investors for EUR 43 million. In 2017, Magnetic MRO was announced as Company of the Year in Estonia.

10.20 — 10.40 TBC. Slot reserved for latest deals.   

10.40 — 11.00  From experience. Acquiring Apoteksgruppen of Sweden. How did Euroapotheca pull off the largest Lithuanian outbound acquisition to date?    



Aurimas Martišauskas Aurimas Martišauskas Aurimas Martišauskas, Head of Strategic Development, Board Member, Euroapotheca UAB (LT)
In late 2017 Lithuanian-based international pharmacy chain Euroapotheca decided to concentrate on active strategic development and since then the scope of their business has doubled. This year, Euroapotheca became the fourth largest player in Swedish pharmacy market by acquiring Apoteksgruppen i Sverige Holding. The group is now managing retail pharmacy networks and wholesale companies in Lithuania, Latvia, Estonia, Poland, Sweden and it is the largest pharmacy chain in Nothern Europe by pharmacy number.

11.00 — 11.30 Panel discussion. Brave and courageous. What are the stories behind companies who think bigger than the Baltics?    



Janek Pohla Janek Pohla Jānis Ošlejs Jānis Ošlejs Moderator: Juhan Lang, Head of Äripäev’s Stock Market Desk
Janek Pohla, Co-founder of Tahe Outdoors (EE)
The sales network of Estonia-based Tahe Outdoors, one of the biggest kayak, canoe and paddling equipment manufacturers in Europe, covers more than 35 countries. Over the years, they have grown through acquisitions, buying up competitors in Germany, Sweden and France.
Jānis Ošlejs, CEO of Primekss (LV)
Latvian-headquartered Primekss, with direct subsidiaries in 10 countries and the US Army among its clients, produces ecologically friendly concrete solutions. They recently opened a manufacturing unit in the USA.

Daumantas Lapinskas Daumantas Lapinskas Daumantas Lapinskas, Chief Investment Officer and Deputy CEO of Avia Solutions Group
Avia Solutions Group is an international, publicly traded aviation holding company with over 50 subsidiaries worldwide. Avia Solutions Group is constantly looking for and evaluating options of potential acquisitions and with extensive amount of experience is ready to acquire relevant businesses.

11.30 — 12.00 Coffee break 

12.00 — 12.30 Panel discussion. Privatisation in the Baltics. Is it moving along and what keeps it from happening?   



Povilas Poderskis Povilas Poderskis Valdo Kalm Valdo Kalm Povilas Poderskis, CEO of Vilnius City (LT)  
Valdo Kalm, CEO of Tallinna Sadam (EE) 
Indars Aščuks, Head of Baltic Markets at Nasdaq, CEO of Nasdaq CSD (LV)
Let’s take a look at the current pace of privatisation in the Baltics. Some things are indeed moving along. Tallinn Port’s IPO is in the works in Estonia. The Latvian government recently published a much more ambitious plan for taking state companies to capital markets. Is the situation hopeful?

Indars Aščuks Indars Aščuks

12.30 — 13.00 Panel discussion. Alternative dispute settlement. Why take your M&A dispute to arbitration?    



Heidi Merikalla-Teir Heidi Merikalla-Teir Eva Storskrubb Eva Storskrubb Heidi Merikalla-Teir, Secretary General at The Arbitration Institute of the Finland Chamber of Commerce (FIN) 
Leaders of arbitration bodies speak about alternative dispute resolution methods available for companies facing disagreements.
Eva Storskrubb, Dispute Resolution Counsel at law firm Rochier (SWE)
Eva Storskrubb has extensive experience in international arbitration proceedings – both ad hoc and institutional – and in particular complex cross-border arbitration as well as litigation in national courts.

13.00 — 13.30 Slow and steady wins the race - becoming the sole owner of a world famous piano factory  



Indrek Laul Indrek Laul Indrek Laul, pianist and owner of Estonia Piano Factory

13.30 — 13.40 Closing remarks   

13.40 Lunch 

REGISTERED PARTICIPANTS

ADMIRAL MARKETS, CFO
ADVOKAADIBÜROO DERLING, Partner
ADVOKAADIBÜROO EVERSHEDS SUTHERLAND OTS&CO, Senior Associate
ADVOKAADIBÜROO EVERSHEDS SUTHERLAND OTS&CO,
ADVOKAADIBÜROO KPMG LAW, Partner
ADVOKAADIBÜROO MAGNUSSON, Partner
ADVOKAADIBÜROO NOVE, PARTNER
ADVOKAADIBÜROO TRINITI, Partner
ADVOKAADIBÜROO TRINITI, Partner
ADVOKATU KONTORA ELLEX VALIÜNAS IR PARTNERIAI, Associate partner
AIZDEVUMS.LV, CFO
AKTORS, Partner
AMBIENT SOUND INVESTMENTS, Managing Director
AS EUVECA LIVONIA PARTNERS, Analyst
AS EUVECA LIVONIA PARTNERS, Associate
AS EUVECA LIVONIA PARTNERS, Partner
AS EUVECA LIVONIA PARTNERS, Associate
AUCTUS CAPITAL, Managing Partner
AUCTUS CAPITAL, Partner
B20 SIA,
BALTCAP, Partner
BALTCAP, Managing Partner
BALTCAP UAB, Managing Partner
BALTCAP UAB, Investment Director
BALTIC INTERNATIONAL BANK, Deputy Chairperson of the Supervisory Board
BPM CAPITAL, Managing Partner
BPM CAPITAL, Partner
BPM CAPITAL, Partner
BPM CAPITAL, Financial Manager
CALLIDUS CAPITAL SIA, Partner
CASTREN & SNELLMAN ATTORNEYS LTD, COUNCEL
CHINN ARBITRATION, Principal
COPENHAGEN ECONOMICS AS, Senior Economist
COPENHAGEN ECONOMICS AS, Managing Economist
DELOITTE, Director
DELOITTE LATVIA SIA REG NR 40003247787, Manager
DMITRIJEVS, Senior Associate
EESTI ENERGIA, Director of Corporate Strategy M&A
ENEFIT GREEN, CFO
ERNST & YOUNG BALTIC,
ERNST & YOUNG BALTIC, Senior Consultant
ETTEVÕTLUSE ARENDAMISE, Head of Investment Advisers
ETTEVÕTLUSE ARENDAMISE, Investment Adviser
EXECUTIVE SEARCH BALTICS, Partner
FONDIA BALTIC,
FONDIA BALTIC, Legal Counsel
FONDIA BALTIC, Managing Director
FRANKLIN TEMPLETON INVESTMENTS POLAND SP. Z O.O., Senior Vice President

HELSKE LTD., Sales Development Manager
IDEALS SOLUTIONS GROUP LIMITED, Business Development Director
IDEALS SOLUTIONS GROUP LIMITED, Project Manager
IJ BIROJS SIA, Founder
INVESTMENT AGENCY, Partner
KPMG BALTICS, Head of Corporate Finance
KPMG BALTICS,
KPMG BALTICS SIA, Director
KPMG BALTICS SIA, Manager
LAW FIRM OF IRMANTAS NORKUS AND PARTNERS COBALT, Partner
LIREMA UAB, CEO
LUMINOR BANK, Head of Structured Finance
M&A BALTICS LV, Managing Director
M&A BALTICS LV,
MAAELU EDENDAMISE, Member of the Board
MAINOR, CFO
NCH ADVISORS INC, Financial Analyst
NCH ADVISORS INC, CFO
NJORD ADVOKAADIBÜROO, Partner
NORDIC CF ADVISORY, Partner
NORDIC CF ADVISORY, Partner
ORION SECURITIES UAB, Head of Investment Banking Unit
POMARFIN OY, Managing Director
PRUDENTIA ADVISERS, Financial Analyst
PRUDENTIA ADVISERS, Partner
RIDANGO, Chairman of the Supervisory Board
RÖDL & PARTNER AUDIT, Consultant
SAARTE INVESTEERING, Member of the Board
SAVOIE, Owner
SAYENKO KHARENKO, Partner
SEB BANKAS AB, Senior transaction manager
SEB PANK, Head of Client Coverage
SENTIO, Member of the Board
SOLTYSINSKI KAWECKI & SZLEZAK, Senior Associate
SUPERIA,
SUPERIA,
SWEDBANK INVESTEERIMISFONDID, Fund Manager
ZENITH FAMILY OFFICE, Corporate Finance
TALLINNA MAJANDUSKOOL, Lecturer
TERAVCAPITAL, Operating Partner
TGS BALTIC, Senior Associate
TGS BALTIC, Partner
THOMSON REUTERS POLAND SP. Z O. O, Financial Analyst
THOMSON REUTERS POLAND SP. Z O. O, Financial Analyst
U.S. INVEST, Member of the Board
UAB DELOITTE VERSLO KONSULTACIJOS,
UNITED PARTNERS ADVISORY, Partner
UNITED PARTNERS ADVISORY, Director
UP INVEST, CFO
WASELIUS & WIST, Specialist Partner

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Venue. House of the Blackheads

The House of the Blackheads is the only surviving Renaissance building in Tallinn. A residential dwelling probably existed at this location on the upper floors of the building of the Brotherhood of Blackheads as early as in the 14th century. The Brotherhood bought the property in the first half of the 16th century, when they also built a new unvaulted hall.

A major reconstruction took place in 1597, when the façade was redesigned in the spirit of Renaissance architecture of the Netherlands, with its rich ornamentation and carved decorations.

One of Tallinn’s most extraordinary painted doors dates back to the 1640s. The two-nave, arched guild hall bought from the St. Olaf's Guild dates back to the 15th century.

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Hotell Palace

Vabaduse väljak 3, 10141 Tallinn
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phone: +372 680 6655

Standard Class single room 107 €, double room 116 €

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