KPMG advises shareholder of Flexa Eesti AS on the sale of the company to Nordwood

Flexa Eesti AS is a leading children's furniture manufacturer in Estonia, operating two production facilities located in Kadrina and Viru-Nigula in Lääne-Viru county. The company produces a wide assortment of children's furniture including beds, wardrobes, chests of drawers, and shelves under the Danish design furniture brand Thuka. With over 100 employees, the company has built a strong reputation for quality furniture manufacturing and serves customers across Europe. The company was established in 1994 and has been an important employer in the Lääne-Viru region for three decades.

As part of the acquisition, Nordwood acquired both production facilities as well as the trademark for the internationally recognized Thuka brand. Following the completion of the transaction, the company has been renamed Thuka Nordwood AS, marking Nordwood's strategic entry into the design furniture market. This acquisition enables Nordwood to diversify its product portfolio beyond timber processing and leverage its strong export experience to support the growth of the children's furniture business. The integration of Thuka Nordwood into the Nordwood group creates new opportunities for the company and its employees through access to broader markets and enhanced operational capabilities. "We are convinced that Nordwood is the right owner who can drive the company's development forward," said Carsten Dan Madsen, Chairman of Flexa4Dreams Holding A/S.

Nordwood operates as an Estonian sawmilling group under a single NORDWOOD brand, producing high-quality timber from locally sourced Nordic pine and spruce across its three Estonian mills. The group consists of AS Viiratsi Saeveski along with its subsidiaries AS Aegviidu Puit, AS Viru-Nigula Saeveski, and OÜ Nordwood, with principal activities in sawmill operations. The group is owned by Estonia's leading wood industry companies RAIT AS and LEMEKS AS. The acquisition of Flexa Eesti and the Thuka brand represents an important strategic expansion for the group into value-added wood products and furniture manufacturing.

Hanno Lindpere, Head of Advisory at KPMG Baltics, noted that "Manufacturing and export of branded consumer products is important input into successful, diversified and vibrant economy. This transaction marks a sign of confidence from Estonian companies and capital." The deal demonstrates continued strong interest from local Estonian capital in acquiring well-managed manufacturing businesses with international brands and export potential.

KPMG Baltics acted as the lead sell-side financial advisor to Flexa4Dreams Holding A/S throughout the entire transaction process, supported by comprehensive legal advisory services from KPMG Law. The project was executed by Hanno Lindpere, Johanna Mägi and Matiss Janis Rekerts from KPMG M&A team and Sandra Metsamärt from KPMG Law. The transaction was successfully completed in June  2025.