Pandea members Auctus Capital in Latvia and Sancovia Corporate Finance in Germany have successfully collaborated to close the sale of SIA “Kurekss”, a leading Latvian sawmill, to HS Timber Group.
Auctus Capital acted as lead advisor to the shareholders of SIA “Kurekss” and worked in close cooperation with Sancovia, reflecting the strong cross-border collaboration behind this successful deal. Recognised for its hands-on approach and expertise, Sancovia helps investors and entrepreneurs connect, evaluate opportunities, and achieve successful transactions. This is yet another testament to Pandea Global M&A’s proven ability to deliver exceptional services to clients globally.
The transaction was successfully completed on October 31, 2025, following approval by all relevant authorities.
Founded over three decades ago, Kurekss operates one of the Baltic’s most advanced sawmill facilities, producing high-quality sawn timber and value-added wood products for export to Europe, North America, Asia, and North Africa. The transaction also includes SIA “Kurzemes Granulas” a pellet manufacturing subsidiary of Kurekss.
HS Timber Group is one of the world’s leading wood processing companies, with more than 2,700 employees and a presence in 80 countries worldwide. Founded in Austria, they develop customised products and sophisticated solutions made from wood —the material of the future —at their production sites worldwide.
“This transaction highlights the ongoing consolidation trend within the Baltic wood processing sector,” noted Emīls Enkūzens, Partner at Auctus Capital. “Strategic investors continue to view the region as a key hub for sustainable and high-value wood production. During the process, we observed strong interest from European investors regarding the Baltic market as well as recognition of Latvian sawmill operational standards.”
The Sorainen Latvia team provided legal support throughout the entire transaction process. Given the complexity of the transaction, Sorainen’s experience proved crucial to its successful completion.