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Ain Kalme

Senior Associate

Ain Kalme is a highly recognized transaction expert with experience as an attorney since 2001. He is a member of the TRINITI transaction team and co-head of TRINITI’s Transport and Infrastructure working group. Ain has considerable experience in M&A transactions and advises both private and public clients from a wide range of industries in connection with M&A transactions, corporate restructurings, investments and corporate governance issues. He regularly advises clients on transactions connected to the management of utility infrastructure, including financing and constructing of infrastructure.

Ain is very good at making negotiations move forward and closing deals in a reasonable and balanced way. He aims to find the best solutions in each transaction to help clients effectively achieve their commercial objectives. He is also very appreciated in the infrastructure industry, and he acts as counsel for a number of regional utilities and international organizations.


Key highlights of his experience include:

  • Legal expert and consultant to OECD in the project “Analyses and Action Plan towards Sustainable Water Services in Estonia” and preparation of the corresponding report (2021 – 2022).
  • Advising TechX Technologies Inc. (OTC: TECXF) in the acquisition of 100% interest in Mobilum OÜ for C$16,000,000. Canadian TechX Technologies Inc. is a company focused on emerging technologies across growth sectors including crypto, blockchain, AI and cloud technologies (2021).
  • Advising the City of Tallinn and Utilitas OÜ in the acquisition of 35.3% holding in the listed AS Tallinna Vesi (drinking water and sewage services provider for the capital city Tallinn) (2020-2021).
  • Advising Estonian national carrier AS Nordic Aviation Group in a share purchase transaction of 49% shareholding in a certified air operator Xfly (2020).
  • Advising buyer in the acquisition of a majority stake in the world’s leading thermally modified wood producer Thermory AS. Heading the TRINITI team in performing Due Diligence (2020).
  • Advising sellers in the sale transaction of an 85% stake in the energy producer Utilitas OÜ and in entering into a shareholders’ agreement with the transaction value of over 300 million euro. Heading the TRINITI team in performing Vendor Due Diligence (2018).
  • Advising OÜ Transpordi Varahaldus in the successful bond issue (2018).
  • Participating as a legal expert and carrying out a comprehensive study on a sustainable development strategy for the Estonian water utility sector commissioned by the Estonian Water Works Association (2016-2018).
  • Advising the Estonian national carrier AS Nordic Aviation Group in a share sale transaction of 49% shareholding in Nordica’s subsidiary Regional Jet Ltd (a certified air operator) and in entering into a shareholders’ agreement (2017).

Professional experience

2015 – Senior Associate at law firm TRINITI
2009 – 2015 Partner and Senior Associate at law firm LEXTAL
2004 – 2008 Senior Associate firm LEXTAL
2001 – 2004 Senior Associate firm Lepik & Luhaäär


Ain graduated from the Faculty of Law at the University of Stockholm in 2001 (LL.M.).

Professional memberships

Member of the Estonian Bar Association since 2002.

Recent experience
Recent news

Estonian Parliament adopted resolution on supporting of nuclear energy

June 13, 2024

TRINITI hands over draft Nuclear Energy and Safety Act to the Ministry of Climate

December 5, 2023

TRINITI advises Utilitas on acquisition of Paide and Valka district heating business from Enefit Green

November 29, 2023

Analysis of the regulatory framework for the deployment of nuclear energy completed

June 2, 2023

TRINITI advises on the establishment of a joint venture between the City of Tallinn and Utilitas

May 18, 2023

TRINITI to update the draft Estonian nuclear law

November 9, 2022

Advising OECD in comprehensive study on sustainable water services in Estonia

August 22, 2022

LHV refinanced the bonds of the largest Estonian aviation assetco

November 4, 2021

TRINITI advises City of Tallinn and Utilitas in acquiring majority holding in AS Tallinna Vesi

February 4, 2021

Nordica acquired full ownership of Xfly from Polish LOT

January 5, 2021

TRINITI advised the sale of the largest manufacturer of hooklift containers in Northern Europe

January 16, 2020

TRINITI advised Utilitas, the largest district heating company of Estonia, in capital raising

February 18, 2019

TRINITI advised TVH in a 10 MEUR bond issue and aircraft acquisition

January 10, 2019

TRINITI Acts as Security Agent for the Investors of the Alexela Tanklad Bonds

April 11, 2018

TRINITI advising the largest commercial investment into Estonian aviation

April 24, 2017

TRINITI Swedish Desk established

February 2, 2017

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