Heiti Hääl, who already owns 50 percent of Alexela Group, is leading a buy-out of the company for 35 million euros.
Currently, the other half belongs to Igor Bidilo. According to Hääl, the owners need a shared vision of where the company is heading.
Hääl told online news portal Defli that the deal, which is subject to approval by the Estonian Competition Authority, is worth 35 million euros, largely financed by loans.
Alexela Group was set up in the 1990s and operates in energy, property and metal industries, employing around 1,500 people. The group's turnover was over 238 million euros in 2013.