OREANDA-NEWS. August 18, 2015. SORAINEN Lithuania, Latvia and Estonia advised Munich-based Aurelius Group on completing the acquisition of Coats, the world's leading manufacturer of sewing threads, craft yarns and craft accessories. The acquisition comprises companies and assets in 19 jurisdictions. The SORAINEN team advised the client on Lithuanian, Latvian and Estonian aspects of the acquisition.

Aurelius is experienced in complex carve-out situations and specialises in acquiring businesses with potential for operational improvement. In addition to implementing measures to boost operational performance, the company intends to focus on the long-term strategic development of the business.

With a rich heritage dating back to 1750, Coats is the world's leading manufacturer of sewing threads, craft yarns and craft accessories, employing over 20,000 people. The company generates revenues of USD 1.7 billion. The sale will enable Coats to focus on its industrial customers and US operations.

SORAINEN assisted the client in setting up local acquisition vehicles and concluding local business transfer agreements in Estonia, Latvia and Lithuania as well as in completion matters, including transfer of employees in the Baltic States. The Pan-Baltic SORAINEN team led by partner Algirdas Pek?ys also included senior associates Agniet? Venckien?, Renate Purvinska, Andis Burkevics, Paul Kunnap, Piret Lappert, associates Laura Ryzgelyt?, Triin Tigane, Hanna Pahk and legal assistant Toms Vilnis.