Sorainen Estonia advised Silmäasema, the Finnish chain of opticians, on its acquisition of a 100% share in Tallinna Optika, the Estonian chain of opticians, from its founder Kalev Klais. With over 40 years of experience, Silmäasema is a leading provider of vision correction and eye care services in Finland. Pasi Kohmo, the company’s CEO, said that Silmäasema plans to continue its expansion and acquisition of the Tallinna Optika chain is the first step in making its business international.
In 2016, Silmäasema opened 14 new representative offices and acquired 6 new businesses, thus obtaining 10 new optical goods stores and an eye care hospital. In total, Silmäasema now has more than 150 representations, 13 of which are eye care hospitals. The Tallinna Optika chain has 8 stores, 3 of which operate in Tallinn, the capital city of Estonia. The company employs 34 people, including 10 optometrists.
Sorainen was involved in all aspects of the transaction, from performing due diligence review to conducting negotiations and providing closing assistance. The Sorainen team assisting the buyer included partner Toomas Prangli, specialist counsel Paul Künnap, senior associate Juulika Aavik and associate Mirjam Vichmann.