The owners of Proplastik group of companies in Estonia, Latvia, and Lithuania have sold the Baltic plastic distribution business to Vink Group, the largest distributor of plastics in Europe.
According to Taavi Reigam, CEO of Proplastik OÜ in Estonia, the transaction is an important milestone for the group: “Proplastik is now part of the leading international player in the sector. It allows to further improve our product offering and service level to our customers across the Baltics. It is good news for all our clients and employees.”
“We are extremely happy to see this transaction completed as Proplastik has a perfect match with our business strategy”, comments Reijo Asikainen, COO Nordics of Vink Group.
Porta Finance acted as the financial advisor and TGS Baltics as the legal advisor to the shareholders of Proplastik in the transaction. Vink’s legal advisor was Cobalt.
Proplastik, founded in 1996, distributes advertising and construction materials, industrial plastics, and aluminum products in the Baltics. The group’s annual revenue is c. €20 million and it employs over 40 people in Estonia, Latvia, and Lithuania.
Vink Group operates as a federation of over 100 independent businesses in 16 European countries, as well as in China, with approximately €100 million of inventory in its vast network of warehouses and factories. Vink provides over 120,000 customers a year with plastics materials, specialist fabrication and machining in industries as diverse as graphics and signage, building and construction, chemical and storage, manufacturing, automotive and public transport, and medical. Vink is a part of the Plastics Family, one of the largest independent plastic businesses in the world.
COO Nordics, Vink Group
Partner, Porta Finance
Tel: +372 602 5015