We advised a road safety supplier Saferoad on signing an agreement to acquire UAB GATAS. With this deal, Saferoad and GATAS will form a joint service business, strengthening road safety in Scandinavia, Lithuania, Poland, and the wider EEA area based on the combined know-how of both sides.
Saferoad, headquartered in Oslo, Norway, operates in 13 countries with an underlying revenue of NOK 6.74 billion (approximately EUR 597 million) in 2023. The group consists of four business areas addressing the markets of infrastructure, restraint systems, services and traffic.
GATAS was established in 2008 and delivers road marking and road safety equipment installation and maintenance services in the Lithuanian market.
”We are happy that Saferoad decided to increase its investments in Lithuania. This acquisition will accelerate the development of the Lithuanian transport infrastructure sector and will deepen Lithuania‘s relationships with Nordic and Western Europe”, commented Laimonas Skibarka, leader of the Sorainen legal team, which worked on the transaction.
The finalization of the acquisition is contingent upon approvals from the Lithuanian Competition Council and the Commission for Coordination of Protection of Objects of Importance to Ensuring National Security.
Our team and services
We advised the client on all transaction-related matters, including legal due diligence, negotiations, drafting and execution of the transaction documents and regulatory matters.
Our Lithuanian team was led by partner Laimonas Skibarka and senior associate Michailas Molis and included senior associates Erika Žigutė, Aurelija Daubaraitė, Reda Čiulkinienė, associates Danas Šniutė, Izabelė Petrikaitė, Raminta Matulytė, assistant lawyer Rytė Rečiūnaitė and others. The team was supported by partner Daivis Švirinas, senior associate Linas Petronaitis and counsel Raminta Karlonaitė-Durnan in organising the ongoing process of securing necessary regulatory clearances.
