Schoenherr advised HS Timber Group on the acquisition of 100 % of the shares in the Latvian sawmill Kurekss SIA from the previous owners Jānis and Arnis Apsītis. The transaction was signed on 24 January 2025. Closing is subject to customary regulatory approvals.
Based in Vienna, HS Timber Group is one of the leading wood processing companies in Europe. It is active in the timber industry and in the bioenergy sector throughout the CEE region, exporting its products to 70 different destinations.
Kurekss is one of the leading sawmills in the Baltic region. The company also operates the pellet producer Kurzemes Granulas SIA, which is also part of the acquisition. With an annual production capacity of 250,000m³ of kiln-dried sawn timber and 150 employees, Kurekss is one of the largest sawmills in the region.
The Schoenherr team advising on the transaction was led by Maximilian Lang (partner) and Christian Herbst (partner), and further consisted of Volker Weiss (partner), Beatrix Schima (attorney at law), Markus Fasching (associate) and Alexandru Caprau (associate).
Schoenherr also advised HS Timber on the acquisition of the Latvian Vika Wood SIA. Read the press release here.