BPM Mezzanine Fund SICAV-SIF, SCA provided mezzanine financing to Network Assets for an acquisition of 100% shares of Corle OÜ. Network Assets is owned by Priit Uuemaa. Corle constructs electricity and telecommunication networks. „Corle is a high quality network construction enterprise with a very good reputation in Estonia. Taking into account the explosive growth of IT services and IoT solutions, I see great growth potential in this sector,” commented Priit Uuemaa, 100% owner and CEO of Corle.
“We are proud that the company founded by us is now owned and managed by a professional and experienced person and we believe that Corle will make a huge step forward and will change from a local medium sized company into a larger regional 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 a good platform for growth.
“We see a lot of growth potential in telecommunication infrastructure construction and we are convinced that Corle will continue to execute successfully its current contracts and become a leading telecommunication infrastructure building company in the Baltics and Scandinavia under the management of Priit Uuemaa,” said Priit Veering, Partner of BPM Capital. Priit Uuemaa has previously managed the energy production and development unit of one of the leading energy producers in Estonia being, 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.
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