The transaction received all required approvals, including unconditional clearance from the Estonian Competition Authority. The transaction was advised by PwC Estonia, KPMG Baltics, and Eversheds Sutherland.
Smartecon continues to operate under its own brand as a separate subsidiary within Verston Group. The company’s management, team and day-to-day operations remain the same, so existing customers and partners can continue working with familiar people.
According to Magno Kure, founder and CEO of Smartecon, joining the group opens doors the company could not have reached as quickly on its own.
“Over the past ten years, we have built strong engineering expertise. Verston adds operational capability to deliver larger projects. For our customers, this means access to end-to-end energy infrastructure projects, and for our team, the opportunity to work on larger-scale projects across different fields and countries,” said Kure.
Together, Verston and Smartecon offer a comprehensive solution that combines energy generation and storage with broader infrastructure design and construction.
According to Veiko Veskimäe, co-CEO of Verston Group, energy infrastructure is one of the group’s strategic growth pillars, alongside road and structural construction and maintenance.
“Smartecon has built strong expertise and a solid market position in energy infrastructure. By combining this with Verston’s operational capability, we can take on larger projects in our region and beyond. We see strong synergy between road and energy infrastructure, particularly in large EPC projects where design, procurement, and construction form a single whole,” said Veskimäe.
About Verston Group
Verston Group is an internationally growing infrastructure group founded in Estonia in 2010, and headquartered in Ülemiste City, Tallinn. In 2025, Verston Group’s revenue grew 53% to EUR 115 million, with net profit of EUR 1.7 million. The Group employs 440 people. Verston’s core capabilities span roads and highways, rail infrastructure, energy infrastructure, and multimodal and urban infrastructure.