Corporate finance advisory · Riga · Since 2013

Corporate finance advice for owners, investors and boards

MURINUS ADVISERS is an investment banking and corporate finance advisory boutique owned and managed by Aivars Jurcans, who has more than 25 years of experience advising on M&A and financing transactions and business valuation issues.

Aivars Jurcans on LinkedIn →

About us

Established in 2013, MURINUS ADVISERS offers the following services:

Advising on and managing M&A transactions, with particular emphasis on cross-border deals
Advising on and managing private equity, venture capital and debt raising transactions and financial restructurings
Advising on business and share valuation issues
Negotiating and mediating conflicts between shareholders and management, in particular disagreements arising from business valuation issues and share sale and purchase agreements

Aivars is a member of the Latvian Business Angel Network. His full CV is available on LinkedIn.

Current writing

Corporate Financier's Notes

A free weekly newsletter by Aivars Jurcans, published by Murinus Advisers SIA. One number, one argument, one position — every Thursday at 7am Riga time.

Read and subscribe →

Credentials

Aivars' experience in advising on M&A transactions, capital raising, financial restructurings and business valuation issues cuts across a range of industries, including financial services (banking, insurance, brokerage and NPL portfolio sales), infrastructure and road construction, real estate, ports and cargo handling, telecommunications, hospitality, e-commerce, bioenergy and business services.

Selected mandates

2026

Major Latvian infrastructure groupShareholder disputes

Mediated disagreements between the shareholders

2026

Latvian real estate developerFinancing

Built the financial model and developed the optimal financing structure

2024–2026

Latvian financial services groupCapital raising

Advised on raising capital, including subordinated capital

2024

Shareholder in a Latvian HoReCa companyM&A

Advised on negotiation strategy for acquiring full control of the company

2024

Latvian e-commerce companyCapital raising

Advised on raising debt capital

2020–2023

Latvian family officeInvestment advisory

Advised on building and managing a diversified portfolio of direct and startup investments

2019

Potential foreign market entrantMarket study

Prepared a survey of the Latvian event management and ticketing market

2018

Latvian commercial bankRestructuring

Acted as financial adviser in preparing a financial and operational restructuring plan

2018

Business services companyValuation

Advised on the valuation of shares

2017

International infrastructure and road construction companyM&A

Acted as buy-side financial adviser on the acquisition of a majority stake in a Latvian road construction company

2017

Shareholder in an infrastructure companyValuation

Advised on the valuation of shares and the disposal strategy for a minority interest

2016–2017

Shareholders in a publicly quoted companyValuation

Advised on estimating the fair market value of shares

2016

Latvian healthcare companyRestructuring

Advised on a comparative analysis of strategic models for restructuring

2014

Insolvent hospitality companyRestructuring

Acted as financial adviser in developing a financial restructuring plan

2013–2014

Potential acquirer of a leading Latvian commercial bankValuation

Advised on the valuation of shares for bid preparation

Client names are kept confidential unless the client has agreed otherwise.

Research and publications

2018–2022

Banking M&A Digest

160 weekly issues on bank and fintech dealmaking worldwide, published December 2018 to January 2022

2015, 2016

Latvian M&A Journal

M&A intelligence report: annual review of M&A activity in Latvia

2015, 2016

Latvian Private Equity and Venture Capital Journal

M&A intelligence report: annual review of private equity and venture capital activity in Latvia

2014

Where the Smart Money Has Gone

M&A intelligence report: private equity and venture capital portfolio in Latvia

2013

Cargo Handling Companies at Freeport of Riga

M&A intelligence report: sector study

Contact

Please contact Aivars Jurcans directly.

Email: aivars (at) murinus.lv
Phone: +371 2921 4640
LinkedIn: Aivars Jurcans
Newsletter: corporatefinanciersnotes.com