Lithuania SME Fund managed by BaltCap, the largest private equity and venture capital investor in the Baltic countries, completed a growth capital investment in Labochema, the leading pan-Baltic laboratory supply provider. This is the third investment made by BaltCap’s Lithuania SME Fund.
Labochema (consisting of Labochema LT, Labochema Latvija and Labochema Eesti) is the leading provider of laboratory supplies and related services in the Baltics. Founded in 1991, the company is currently located in Vilnius, Riga and Tartu. Labochema provides customers with a wide range of products including chemicals, reagents, furniture, equipment, instrumentation and consumables from leading global scientific manufacturers. Labochema’s client portfolio consists of top educational, biotech, industrial, pharmaceutical, health care and governmental organizations. Along with the new equity investment, Siaulių bankas will provide a new loan facility to Labochema.
“Labochema has established an excellent track record in servicing specialized research facilities and labs enabling its clients to fully focus on their areas of expertise”, said Kornelijus Celutka, Investment Director at BaltCap. “We are pleased to partner with Labochema’s management team and its shareholders to support the company’s continued growth.”
Paulius Miezys, Chairman of the Board of Labochema said: “BaltCap’s investment is a vote of confidence in our business model and our leadership position. BaltCap has provided us with the growth capital necessary to continue our track record of success as Labochema enters the next stage of growth in Lithuania and other Baltic countries.”
Graham Cope, Head of Region of European Investment Fund, stated: “This investment is the third from the Lithuania SME Fund and illustrates the growing importance of equity investments to the Lithuania marketplace. Risk capital investments in growth-focused enterprises such as Labochema enable companies to extend their leadership positions by utilising funding and knowledge brought by experienced investors.”
Lithuania SME Fund is a growth capital fund organized by BaltCap in 2010 as part of the JEREMIE initiative in Lithuania. JEREMIE Holding Fund managed by the EIF is financed from the EU Structural Funds under 2007-2013 Economic Growth Operational Programme. Total size of Lithuania SME Fund is EUR 20 million and it provides growth equity financing up to EUR 3 million per company for small- and medium-sized enterprises based in Lithuania.
Earlier, Lithuania SME Fund has invested into Ygle, building engineering systems solution and service provider, and Impuls LTU, the largest health club operator in Lithuania.
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