News

We welcome Egons Liepiņš with joining Merhels


17 October 2019
We are pleased to announce, that Egons Liepiņš in October 2019 joined our audit and financial advisory team. He is well known and respected certified auditor and financial expert here in Latvia. Egons commenced his professional activities more than 30 years ago. 15 of those he spent at Riga office of international audit firm EY, initially as audit director and subsequently as tax partner. Further Egons has solid CFO, transaction advisory and investment making experience. Egons very much enforces our capabilities within audit and financial advisory.

Merhels assists BPM with financing buy-out of Smiltenes Piens


30 August 2019
Merhels provided transaction advisory support to BPM Mezzanine Fund SICAV-SIF, SCA BPM Capital (“BPM”) within the context of BPM financing the buy-out of Smiltenes Piens AS (“Smiltenes Piens”). Smiltenes Piens is one of the leading Latvian dairy companies with a broad and high-quality product portfolio. Smiltenes Piens stands out with its excellent choice of cheese products, which are very popular in the Latvian market. Within the deal Merhels assisted BPM with financial and tax due diligence of Smiltenes Piens.

Merhels becomes a member of LCCI


19 August 2019
On 19 August 2019 Merhels became the member of Latvian Chamber of Commerce and Industry (LCCI). We expect actively using LCCI ecosystem to grow our network of contacts and obtain new knowledge and information relevant for our professional activities.
Read More...

‘Acquisition International’ Finance Awards 2019


16 August 2019

On 14 August 2019 ‘Acquisition International’ (AI) has announced Merhels as the winner of the award ‘Best SME Accountancy Firm 2019 - Latvia’.

A link to the supplement and full recipient list is HERE. The 2019 International Finance Awards press release can be found HERE.

Edvards Merhels, managing partner of Merhels, comments: “I am very proud for my team to receive the ‘Best SME Accountancy Firm - Latvia’ award, in fact third time in a row. It may seem easy going but in fact it is opposite – once you achieve something, getting to next level never becomes easier. So big and sincere thanks to my team for their hard work, innovation and dedication!”


Merhels assists Ekspress Grupp with acquisition of Biļešu Paradīze


11 June 2019
Merhels provided financial advisory support to AS Ekspress Grupp (“Ekspress Grupp”) on their acquisition of Biļešu Paradīze SIA (“Biļešu Paradīzea”). Ekspress Grupp is the leading media group in the Baltic States whose key activities include web media content production, publishing of newspapers and magazines and provision of printing services in Estonia, Latvia and Lithuania. Biļešu Paradīze operates the electronic ticket platform (bilesuparadize.lv) and box offices to organise the sale of tickets to various entertainment events on behalf of event organisers. The company has provided online ticket distribution for more than 15 years and is one of the two leading ticket service providers in Latvia. Within the deal Merhels assisted Ekspress Grupp with analysis of Latvian ticketing market, business valuation and financial and tax due diligence of Biļešu Paradīze.

‘Acquisition International’ Leading Advisers Awards 2019


12 March 2019
On 12 March 2019 ‘Acquisition International’ (AI) has announced, that as part of AI’s Leading Advisers Awards Merhels has been recognised as Leading SME Accountancy, Tax and Business Advisory of the Year, Latvia.
Read More...

Transparency report 2018


16 January 2019
Merhels has issued its Transparency Report for 2018. Transparency report is a public statement of our commitment to provide thorough audits. It briefly describes how we run the firm, perceive and perform audits.

Click here to access the report.

Merhels assists BaltCap with their investment into KOOL Latvija


12 November 2018
Merhels provided financial advisory support to BaltCap Growth Fund (“BaltCap”) on their investment into KOOL Latvija SIA (“KOOL Latvija”). KOOL Latvija operates petrol stations connected to convenience stores under the KOOL brand. It aims to become a credible local alternative to large foreign players by offering competitive prices and first-class client service. Within the deal Merhels assisted BaltCap with execution of financial, tax and limited commercial due diligence of KOOL Latvija.

‘Acquisition International’ Finance Awards 2018


30 August 2018
On 17 August 2018 ‘Acquisition International’ (AI) has announced Merhels as the winner of the award ‘Best Accountancy Firm 2018 - Latvia’.
Read More...

Merhels assists AVS Verkehrssicherung GmbH with their acquisition of KMK Projekts


20 August 2018
Merhels provided financial advisory support to AVS Verkehrssicherung GmbH (“AVS”) on the acquisition of KMK Projekts, a leading provider of traffic safety products and permanent road marking in Latvia. AVS is a leading specialist provider of professional traffic safeguarding in Germany – especially for major projects on federal motorways. For more than 30 years, AVS has been offering complete services for traffic safeguarding from a single source.Within the deal Merhels assisted AVS with execution of financial due diligence of KMK Projekts.

Doing Business in Latvia - snapshot


16 August 2018
Merhels has updated its Doing Business in Latvia snapshot guide. It contains only high-level considerations summarised on one page. The guide has been prepared for the assistance of those interested in doing business in Latvia. As a snapshot, it does not cover any of the subject in detail and is intended only to give the first feel about Latvia. The snapshot includes legislation in force as of 30 June 2018.

Click here to access the report.

20 Years of Excellence


10 August 2018
August 10, 2018 marks a significant milestone for Merhels - 20 years ago on that day the Firm was founded. Edvards Merhels, managing partner and the Firm’s founder reflects: “These twenty years have passed by a blink of an eye. I very well remember my first day of work at Merhels, the first project, and the first audit season. Over the years, I have cultivated the same driving force behind establishing the Firm - producing meaningful output, making a difference, helping people and always doing the right thing. These values have shaped the practice which, judged by its impeccable reputation, personalised client service approach and breadth of services, I believe is now the leading independent Latvian national accountancy firm."
Read More...

State revenue service (SRS), already 4th time, praises our tax payment discipline


15 May 2018
SRS regularly evaluates tax payments made by tax payers to the state budget to express gratitude to those who in a good faith comply with obligations set by tax laws and pay significant amount of tax to the budget. Merhels, fourth time in a row, has been praised by SRS in this regard. This recognition inter-alia has very practical consequences - SRS will not burden our Firm with any kind of detailed scrutiny at least until April 2019 unless we force them to do that by our actions.

Merhels advises B2Kapital with their acquisition of loan portfolio from Hiponia


15 January 2018
Merhels advised B2Kapital SIA in the acquisition of a non-performing loan portfolio from Hiponia SIA in Latvia.

B2Kapital procures and manages corporate and retail, secured and unsecured non-performing loans. The company is based in Riga, Latvia. It operates as a subsidiary of B2Holding ASA, a leading European distressed asset solution provider for banks and institutional vendors.

Within the acquisition process Merhels assisted B2Kapital with valuation of the loan portfolio.

Transparency report 2017


29 December 2017
Merhels has issued its Transparency Report for 2017. Transparency report is a public statement of our commitment to provide quality audit services. It briefly describes how we run the firm, perceive and perform audits.

Click here to access the report.

‘Acquisition International’ Finance Awards 2017


27 September 2017
On 26 September 2017 ‘Acquisition International’ (AI) has announced Merhels as the winner of the award ‘Best Accountancy Firm 2017 - Latvia’. 
Read More...

Tax reform 2018 - snapshot


18 September 2017
The Government in August 2017 approved changes to the Latvian income tax system to stimulate reinvestment of profits and implement progressiveness in taxation of personal income. Estonian corporate income tax system has been the source of inspiration when it comes to overhaul of Latvian corporate income tax system. Implementation of progressiveness of taxation of personal income has been long discussed. Government hopes that the new system will help combating the grey economy and will be fairer.
Read More...

Doing Business in Latvia - snapshot


28 July 2017
Merhels has issued its Doing Business in Latvia guide in the form of a snapshot. It contains only high-level considerations summarised on one page. The guide has been prepared for the assistance of those interested in doing business in Latvia. As a snapshot, it does not cover any of the subject in detail and is intended only to give the first feel about Latvia. The snapshot includes legislation in force as of 30 June 2017. As a piece of warning – Latvian income tax system is subject to overhaul and hence information contained regarding income tax may very soon become obsolete.

Click here to access the report.

Examination of EU funded projects


17 July 2017
In May and June of 2017 Merhels was contracted to assist European Commission’s Directorate-General for Regional and Urban Policy in execution of their audits and controls. Our tasks included verification and analysis of final control reports put together by national audit authorities covering EU funded programmes in planning period 2007-2013 and setting-up action plan to avert identified problems.
Read More...

State revenue service (SRS), already 3rd time, praises our tax payment discipline


09 May 2017
SRS regularly evaluates tax payments made by tax payers to the state budget to express gratitude to those who in a good faith comply with obligations set by tax laws and pay significant amount of tax to the budget. Merhels, third time in a row, has been praised by SRS in this regard.
Read More...

Lawyer Monthly Witness Award 2017


10 March 2017
Lawyer Monthly has selected Edvards Merhels, managing partner of Merhels, for a Lawyer Monthly - Expert Witness 2017 Award in recognition of his specialized knowledge and experience within the area of strategic business consultancy.
Read More...

BID Group One ISLQ Award


23 January 2017
On 12 January 2017 BID Group One (BID), whose international activity promotes Quality Culture, Innovation and Excellence, has chosen Merhels to receive the International Star for Leadership in Quality (ISLQ) Award.
Read More...

Archives: