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Last year, the optical retail chain Pro Optika took a bold step by acquiring its competitor Pere Optika — a move that doubled both its store network and its team. With 50 stores now across Estonia, the company is entering a new growth phase and redefining what it means to be a modern family-run business.

How has the auditors’ market changed and why is it hard to find sufficiently qualified specialists? What sorts of trends will global competition, workforce shortage and sustainability reporting requirements bring about?

Often people neglect to consider that the same key interest rate affects not only businesses' loan capability and finances but also taxation.

This November, the Nasdaq Tallinn exchange’s alternative market First North started trading of the shares of the only Baltic pharmaceutical company J. Molner. Grant Thornton Baltic auditors had an important role in laying the groundwork for J. Molner’s market debut.

Grant Thornton Baltic's transaction advisory team helped OÜ Rannu Seeme develop the conditions for the exit of the partner, including advising on the execution and formalization of the transaction.

In the spring and summer of 2022, Fourings OÜ, which brings together companies engaged in the sale and maintenance of Audis in Estonia, sold a 50 percent stake to the investment company UG Investments.

Experts say that activity on the transactions market has returned to previous levels in contrast to the slump in the spring, but it should be remembered that more restrictive conditions are added to contracts in hard times.

In May, the latest Estonian company will become listed on Nasdaq First North, the alternative list of the Tallinn Stock Exchange – the digital product sale platform Punktid Technologies AS.

Grant Thornton Baltic was recently again able to contribute to a market debut for an Estonian company: our auditors conducted a financial audit of a producer of high-tech ventilation systems, Airobot Technologies, which as of 10 February is listed on Nasdaq First North.

A businessman who started a company in Estonia even before the country had regained independence, Kevin Probert-Ehaver, recently sold his life’s work – the three Baltic companies in BK Group – to a major Chinese corporation, Hikvision. The transaction proved more complicated than planned, but in the end he managed to negotiate a price that was triple what was originally offered.

The auditors of Grant Thornton Baltic audited the 2020 IFRS annual report of the public interest entity UPP Olaines OÜ consolidation group.

A wisely selected supervisory board – one that doesn’t do its work only at meetings but lays down clear strategic goals for management and itself and meters them constantly, while serving as a mentor for executives – can contribute greatly to achieving solid business results.

Grant Thornton Baltic OÜ advised German company RAUMEDIC AG on the acquisition of aktsiaselts A&G. RAUMEDIC AG is a leading developer and manufacturer of systems and components and a partner to medical and pharmaceutical industries. Core business of aktsiaselts A&G is production of medical supplies.

Grant Thornton Baltic advised Howden Finland Oy, the market leader in Finland and part of the international group Howden Broking, on the acquisition.

Maintaining proper accounting on transfer prices and documenting the reasoning for conformity to market value is in the interests of every enterprise, as it avoids tax risks. In preparing documentation, the requirements of legal acts should be considered along with the specific company’s risks and needs.

Something that family businesses should consider besides earning a profit is maintaining mutual relations between family members and devoting attention early on to questions of succession if the business is to stay in the family.