BaltCap Lithuania SME Fund sells its 75% stake in property services company Yglė Pastatų Valdymas (YPV) to SOL Baltics. SOL Baltics also acquires the remaining 25% of the company’s shares previously owned by CEO Agne Grendelė and will gain 100% ownership of YPV.
Agnė Grendelė will continue as the CEO of YPV and she will also manage SOL Lithuanian division.
“During the six-year holding period of BaltCap, YPV has grown tremendously as a business and is one of the market leaders today. YPV is one of the most advanced and future-proof companies in the sector, with a professional team and extremely talented CEO that contributed significantly to the success story of YPV,” commented Šarūnas Stepukonis, partner at BaltCap. “It is important for us that the new owners of YPV are strategic investors with a vast experience in the sector, clear vision for development and similar values. We are excited to witness the further growth of YPV,” Stepukonis added.
“We entered Lithuanian market recently and are already convinced that Yglė Pastatų Valdymas is one of the market leaders distinguished by professional approach and vast experience. Joining forces with YPV will create the best customer-centric property management company in Lithuania. SOL Baltics will have full range of cleaning and maintenance services to offer in the country,” Rinel Pius, CEO at SOL Baltic said.
As result of this transaction, SOL Baltics will become the leading provider of cleaning and maintenance services in Lithuania.
BaltCap Lithuania SME Fund acquired Yglė Pastatų Valdymas in 2014. The company is engaged in property services and building engineering systems. YPV is the 7th of nine companies in the investment portfolio of the fund that have been sold to investors already.
SOL Baltics belongs to SOL which is one of the oldest business groups in Finland. SOL derives itself from the dyeing company Lindström Oy, founded in 1848. SOL provides property management, security and staffing services. The group has branches in Sweden, Denmark, Estonia, Latvia, Russia and Lithuania.
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