BaltCap has exited Estonian Operations of Workland

BaltCap Private Equity Fund II has transferred Estonian operations of Workland Group, leading pan-Baltic operator of serviced offices and co-working spaces, to its current CEO, Indrek Haal.

In addition, BaltCap is consolidating the Lithuanian and Latvian units into a new structure which will continue to manage nine Workland centres in Vilnius, Kaunas and Riga. Laura Panovienė will continue as a managing director of Workland Group.

“Despite its similarities, coworking and broader commercial real-estate markets have shown diverging trends across three Baltic countries and the group is adapting to reflect local needs. We’re confident that Workland centres in Estonia as well as Latvia and Lithuania, will continue to offer the best-in-class community experience and services for members under the new ownership structure.” said Šarūnas Alekna, Partner at BaltCap.

BaltCap backed Workland Group is the largest network of coworking spaces in the Baltics with 14 centers – five in Tallinn, three in Riga, five in Vilnius and one in Kaunas. Workland’s mission is to provide inspiring workspaces on flexible terms with professional support services and a community that supports the company’s growth.