The new owner of Corle is Priit Uuemaa

At the end of last year, Priit Uuemaa acquired 100% shares in electricity and communications networks construction company Corle OÜ in Estonia. The transaction was financed by BPM Mezzanine Fund SICAV-SIF, SCA (BPM), which finances acquisitions and investments in Estonia, Latvia, Lithuania and Poland.

„Corle has a high quality and excellent reputation in the field of electricity and communications networks construction in Estonia. Given the explosive growth in IT services and IoT solutions, I see a significant potential for growth in the development of physical infrastructure, “said Priit Uuemaa.

“We are proud that the company founded by us is now owned and managed by a professional and experienced leader and we believe that Corle will make a significant step forward from a local medium sized company towards a Nordic region player in telecommunication network construction and maintenance,” commented Aleksander Leonov, one of the previous shareholders of Corle. Kaido Kornak, the other founder of the company, added that Corle is efficient organization with optimal size and professional team and it is a solid platform for further growth.

The financial adviser for the sellers was Porta Finance.

“We see growing market for construction of communication networks and are certain that under Priit Uuemaa’s lead Corle will successfully continue servicing the existing contracts and will become a larger communication infrastructure construction business in the Baltics and Scandinavia,” said Priit Veering, partner of BPM Capital.

Priit Uuemaa has previously been an executive level manager in Graanul Invest where his responsibility was the energy production and development and among other, responsible for construction of electricity and telecommunication infrastructure. Priit Uuemaa has a PhD degree in Electrical Power Engineering from Tallinn University of Technology. He has attended the Executive Program for Growing Companies at Graduate School of Business of Stanford University.

For further enquiries, please contact:

Corle: Priit Uuemaa, tel: +372 5565 0605 e-mail: priit@corle.ee

BPM: Priit Veering, tel: +372 605 0074 e-mail: priit.veering@bpmcapital.eu

Corle OÜ (www.corle.ee) was founded by Kaido Kornak and Aleksander Leonov in 2006. The company constructs ca 500 km of telecommunication networks annually. Today, Corle is an international company having operations in Estonia and Finland. Corle is an important partner to the state and private telecommunication companies. Corle has 32 high skilled employees and generates ca 6 M€ euros turnover per year. The networks built by Corle helps to bring fast Internet connection to people’s homes and companies business premises.

BPM Mezzanine Fund SICAV-SIF, SCA (BPM), managed by BPM Capital, is supported by prominent international and domestic institutional investors. BPM was originated through the Baltic Innovation Fund (BIF) initiative created by cooperation between Estonia, Latvia, Lithuania and the European Investment Fund. BPM Capital (www.bpmcapital.eu) is an independent investment manager operating out of two offices, in Tallinn and Warsaw. It has been founded and is managed by Kalmer Kikas, Martin Reinson, Paweł Zabrzycki and Priit Veering. BPM invests in small and medium-sized enterprises and lower midcap companies in the Baltic region and Poland.