What Superia does

Superia is an independent Baltic financial advisory firm headquartered in Tallinn, Estonia, with additional offices in Riga, Latvia, and Vilnius, Lithuania. Formally launched in January 2013 following the management buyout of SEB Enskilda's corporate finance operating entities in Estonia and Latvia (December 2012), the firm completed its pan-Baltic platform in March 2018 by integrating Šarūnas Skyrius and a four-person team from Oaklins Lithuania. It employs 15-16 senior professionals, all with deep Baltic investment banking pedigrees from SEB Enskilda, Oaklins, GILD Bankers, KPMG, EY, and similar firms.

The firm provides transaction-focused advisory services — mergers and acquisitions, divestitures, debt and equity capital raising, and corporate restructuring — to corporate clients, private equity and institutional investors, governments and state-owned enterprises, and private entrepreneurs. Unlike traditional investment banks, Superia does not underwrite securities offerings or trade equities, allowing it to deliver impartial advice. Sector specialisations include Energy, Renewables, Utilities, Infrastructure, TMT (Technology, Media, Telecommunications), and Consumer Discretionary, with a track record exceeding 100 completed cross-border and domestic transactions including airBaltic (EUR 340m bond), Nelja Energia (EUR 488m sale), Vilnius CHP (EUR 120m stake), CapMan Infra/Hansabuss, and multiple BaltCap and Quaero Capital transactions.

Commercially, Superia operates as a sales-led professional services firm generating revenue through transaction-based advisory fees, with go-to-market anchored in partner-led relationship coverage, referral networks from Baltic PE and corporate clients, and brand built on sustained Mergermarket recognition (#1 M&A Adviser in the Baltics 2025; Baltic Financial Adviser of the Year 2024, 2015). The firm co-organises the annual Baltic M&A and Private Equity Forum with Sorainen — the region's principal industry event — reinforcing its network moat. There is no proprietary technology platform; service delivery is human-expert-driven, with offices across all three Baltic capitals supporting direct partner-led client engagement.

Name

Superia

Legal name

Superia

Website

https://superia.ee

Company type

Private

Founded year

2013

Operating status

Operating

Headcount range

11–50 employees

Short description

Superia is an independent, pan-Baltic financial advisory firm headquartered in Tallinn with offices in Riga and Vilnius, providing M&A, divestiture, debt and equity capital raising, and corporate restructuring advice to corporate, PE, and government clients across Estonia, Latvia, and Lithuania.

Ownership category

akta.pro rank

Product category

Investment Banking Advisory

NAICS

Investment Banking and Securities Intermediation (52315), Portfolio Management and Investment Advice (523940)

SIC

Investment Advice (6282), Security Brokers, Dealers & Flotation Companies (6211)

akta.pro primary industry

Divestitures, Carve-Outs & Spin-Off Advisory (FSAEAGAL)

akta.pro secondary industry

Real Estate Investment Advisory (Acquisitions/Dispositions, Capital Allocation) (BPAJANAA)

Keywords

• Mergers and acquisitions advisory
• Corporate restructuring advisory
• Capital markets advisory
• Financial advisory services
• Baltic M&A advisory

Headquarters

HQ city

Tallinn

HQ country

Estonia

HQ region

Europe

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales

Revenue model

1. Financial Advisory Services: Superia generates revenue through advisory fees for providing independent financial advice on mergers, acquisitions, divestitures, debt and equity capital raising, and corporate restructuring transactions. Unlike traditional investment banks, Superia does not underwrite securities offerings or trade equities, ensuring unbiased and impartial advice to issuers.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Superia is an independent financial advisory firm providing mergers and acquisitions (M&A) advisory, divestitures, debt and equity capital raising, and corporate restructuring services across the Baltic region. The firm advises corporate clients, private equity firms, and government entities on mid- and large-cap transactions, operating from offices in Tallinn, Riga, and Vilnius.

Product overview

Superia is the leading Baltic financial advisory firm, not a technology product company. It provides independent financial advisory services on mergers and acquisitions, divestitures, debt and equity capital raising, and corporate restructuring. The firm operates across Estonia, Latvia, and Lithuania with offices in Tallinn, Riga, and Vilnius. Superia has a generalist approach with extensive experience in Energy, Renewables, Utilities and Infrastructure, TMT (Technology, Media, Telecommunications), and Consumer Discretionary sectors. Unlike traditional investment banks, Superia does not underwrite securities offerings or trade equities, providing unbiased and impartial advice to issuers. The firm's track record in Baltic M&A is unrivalled, including cross-border private and public transactions.

Differentiator

Problem solved

Functional benefit

Products and services

• M&A Advisory
• Divestiture Advisory
• Debt Capital Markets Advisory
• Equity Capital Markets Advisory
• Corporate Restructuring Advisory

Quantifiable outcome

• Superia ranked #1 M&A adviser in the Baltics by number of completed transactions in 2025 (Mergermarket)
• +2 more outcomes

Named customers6 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Four partnerships are on record, tiered core and minor.

• SorainencoreStrategic or Co-development Partner · 1 October 2016Superia co-organizes the annual Baltic M&A and Private Equity Forum with Sorainen (Baltic law firm) and Baltic business media leaders (Dienas Bizness, Äripäev, Verslo žinios), in cooperation with private equity and venture capital associations from the Baltics. This forum has become the main networking event for the industry in the region.
• STJ AdvisorsminorStrategic or Co-development PartnerSuperia partnered with STJ Advisors as joint financial advisers to airBaltic on €340m senior secured bond issuance and €40m tap issue. Also jointly advised on Lufthansa Group's €14m minority investment in airBaltic.
• Augusta & CominorStrategic or Co-development PartnerSuperia partnered with Augusta & Co as financial advisers to Vardar in the sale of Nelja Energia to Enefit Green (EUR 488m transaction).
• BlackstoneminorStrategic or Co-development PartnerSuperia acted in partnership with Blackstone as financial advisors to the Latvian government in the reorganisation process of Latvijas Hipoteku un Zemes Banka.

Scale indicators3 records

Recent moves6 records

Expansion highlights4 records

Broad incumbents

• Sorainen: Leading Baltic law firm and Superia's co-organizer of the annual Baltic M&A and Private Equity Forum. While primarily legal, Sorainen frequently participates in M&A and capital-raising transactions in the same deals and client pool as Superia.
• Deloitte (Baltic Corporate Finance): Big 4 corporate finance practice in the Baltics providing M&A and capital-raisings advisory, frequently partnering with or competing against Superia on regional mid-market transactions.
• SEB: Swedish bank whose Baltic corporate finance operations were the original predecessor to Superia (acquired by current partners in 2012). SEB continues to provide M&A advisory across the Baltics alongside Superia's clients.
• PwC Corporate Finance (Baltics): Big 4 corporate finance practice active in Baltic M&A and capital-raisings. Competes with Superia on mid-market mandates while offering broader transaction services and consulting integration.
• EY-Parthenon (Baltics): Big 4 strategy and transactions practice with strong Baltic Corporate Finance team (former employer of several Superia staff including Sigvards Dzelzkalejs). Direct competitor on M&A mandates.
• KPMG Baltics: Big 4 advisory practice in the Baltics with deal advisory and corporate finance capabilities; former employer of Superia's Sten Piirimägi. Competes for M&A mandates across the three Baltic markets.
• Swedbank: Major Baltic corporate bank providing corporate finance and capital markets advisory in Estonia, Latvia, and Lithuania. Competes with Superia for mid-market mandates while also offering lending products.

Direct peers

• Oaklins: Global mid-market M&A advisory with presence across the Nordics and Baltics; Oaklins Lithuania was the predecessor firm where Šarūnas Skyrius worked before joining Superia in 2018. Directly comparable mid-market advisory boutique model and target client base.
• GILD Bankers: Lithuanian boutique investment bank that previously employed Superia partner Šarūnas Skyrius (2005–2014). Closely comparable boutique M&A advisory model targeting Baltic corporates, PE, and entrepreneurs.

Regional players

• LHV Pank: Estonian domestic bank with growing corporate finance and M&A advisory capabilities. Increasingly active in Estonian mid-market transactions that overlap with Superia's core geography.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles16 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Superia