Joint venture for courier services
AS Smarten Logistics, a client of law firm TRINITI (former Tamme Otsmann Ruus Vabamets), and an Estonian investor, have established a joint venture for the provision of express courier services. The new undertaking operates under the trademark Jetpak on the basis of a franchise contract signed with Jetpak Group AB.
Jetpak Group AB is one of the leading express courier service providers in the Nordic countries and has a unique network that covers at least 140 locations in Sweden, Denmark, Norway, Finland and now also in Estonia. The company has over 1,400 employees and 700 vehicles, and its turnover exceeds 700 million SEK. Additional information about the company and the services it provides is available on Jetpak’s website.
AS Smarten Logistics is the largest third-party logistics service provider in Estonia and its main areas of activity are management of stock; the receipt, storage and collection of goods; value added services; and transport and comprehensive logistics solutions. The consolidated net turnover of AS Smarten in 2010 was 135 MEEK and the group employed more than 200 people.
Law firm TRINITI (former Tamme Otsmann Ruus Vabamets) advised AS Smarten Logistics in the acquisition of a holding in the joint venture and in negotiations about the shareholders agreement and the financing agreement.