Advised on a sale of a wholesale medical company

Our team advised a buyer (management team) on the purchase of 94% shares in UAB Ilsanta, a wholesale medical company supplying medical devices, equipment and disposables for hospitals and healthcare centres in the Baltics.

As a typical management buyout (MBO) transaction, the deal included the indirect purchase of shares by existing managers of the target, acting through a special purchase vehicle with financing attracted from Nordea bank.

Our firm advised on the overall structure of the deal, drafted the share purchase agreement and other related documents, as well as providing legal support for the acquisition of financing provided by a bank.

The transaction was of significant importance to the target company, UAB Ilsanta, since it allowed the company to cover its debt to the major creditor, the Icelandic bank Kaupthing, which is currently in winding-up proceedings, and have better access to day-to-day business financing.

Experience