News

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.

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

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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.

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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."
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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.

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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.

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