BaltCap invests in Coffee Inn

BaltCap invests in Coffee Inn, the largest branded coffee shop chain in the Baltics. Coffee Inn intends to invest up to €2 million of debt and equity capital over the coming two years to finance the future growth of the business in Lithuania and other countries.

 

Coffee Inn (www.coffee-inn.lt) was established in Vilnius in 2007 by the group of Lithuanian entrepreneurs. Today, the company operates 28 branded coffee shops and expects to have sales over €3 million in 2012. Coffee Inn shops are located in Vilnius, Kaunas, Klaipeda, Palanga, Siauliai and Riga, Latvia.

 

Vygantas Maksele, the CEO of Coffee Inn said: “We are very pleased with having attracted BaltCap as new investor in Coffee Inn. With BaltCap’s financial and strategic backing, we are confident that the company will continue its strong growth in the coming years. Regional market for branded coffee bars is at a very exciting stage of its development and we should capitalize on this opportunity.”

 

“We believe that Coffee Inn has the strongest growth potential among local chains of branded coffee shops in the Baltics. We look forward to working with the competent management team of the company, who has demonstrated an impressive record over the last four years in both expanding the chain across Latvia and Lithuania and building highly loyal customer base.” said Kornelijus Celutka, Investment Director at BaltCap.

 

This marks Lithuania SME Fund’s sixth investment. Earlier, the Fund has already invested into: Ygle, building engineering systems solution and service provider, Impuls LTU, the largest health club operator in Lithuania, Labochema, the leading pan-Baltic laboratory supplies provider, Seimos Medicinos Klinika, chain of primary care clinics and YPlan, event booking mobile app in London.

 

Lithuania SME Fund is a growth capital fund established by BaltCap in 2010 as part of the JEREMIE initiative in Lithuania. 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.

 

Further information:

Kornelijus Celutka

Investment Director

BaltCap
Tel.: +370 5 254 6713

e-mail: kornelijus.celutka@baltcap.com

BaltCap makes the fourth investment this year

BaltCap, the leading private equity and venture capital firm in the Baltics, has invested 800,000 euros in Amateks – producer of metal components and complementary parts. This is already the fourth investment this year which has been performed by BaltCap with private and European Structural funds financing. It is expected that investment will be used for production expansion and modernization.

 

„Amateks is a good example that high quality production combined with a strict observance of the delivery dates and responsiveness to customer needs are important prerequisites for attracting international customers. The company’s hallmark in the last ten years is successful collaboration with global companies such as Schneider Electric, CERTEX, Concentric AB and Plockmatic,” says the Investment  Director of BaltCap Astra Neimane.

 

Ivars Golsts, the Director of the Latvian Guarantee Agency that oversees the Holding Fund resources used partly for this investment, commends that “BaltCap continues to make investments that contribute to the modernization of Latvian companies and growth of export capacity.”

 

Explaining the investment decision of BaltCap, Astra Neimane indicates that experience of the company’s management team, accumulated over nearly thirty years of work in the industry, was a crucial factor. The investment will extend Amateks’ product range and allow rapid growth of revenues, fueled both by servicing existing clients and working on a attracting new ones.

 

“With venture capital funding, we plan to expand and modernize our manufacturing facilities to meet the evolving needs of our existing customers and to attract new global customers. In addition, we are satisfied that BaltCap will participate not only with money but also with serious management experience and knowledge, as well as their extensive international contact network, “said Chairman of the Board and owner of Amateks, Aivars Gudakovskis.

 

Supervisory Board of Amateks will also be strengthened with an addition of an experienced industry professional, Hanzas Elektronika vice president Alvis Vagulis. Previously he led the Lexel Fabrika, a subsidiary of Schneider Electric in Latvia.

 

Amateks is a metalworking company that offers lathing, milling and welding services using high precision and effective equipment. Last year the company worked with a turnover of one million euros.

 

Further information:

Astra Neimane   

Investment director

Baltcap

Phone: + 371 29116680

E-mail: astra.neimane@baltcap.com

 

Aivars Gudakovskis

Chairman of the Board

Amateks

Phone: +371 29492754

E-mail: aivars.gudakovskis@amateks.lv

BaltCap invests in Lithuanian healthcare sector

BaltCap, the largest private equity and venture capital investor in the Baltic countries, completed a growth capital investment in Seimos Medicinos Klinika (“SMK”), an operator of primary care and family doctor clinics in Lithuania. This is the second investment completed by BaltCap’s Lithuania SME Fund this month. 

Established in 2004, the Company operates 6 primary care clinics in Taurage, Marijampole, Lentvaris and three residential areas of Vilnius (Riese, Dvarcionys and Lazdynai). Across the chain, SMK has more than 17 thousand registered patients and employs 100 doctors and other professionals.

 

“We have identified private healthcare services in Lithuania as a strong and sustainable growth opportunity and believe that SMK, with its track-record of medical excellence, strong management and well-established corporate governance, represents an attractive consolidation platform in this market,” said Kornelijus Celutka, Investment Director at BaltCap.

 

Rusanda Pajediene, Director of SMK said: “We welcome the investment by BaltCap, whose financial backing combined with industry expertise should support SMK’s next phase of growth, both organically, and by making acquisitions in a very fragmented market.”

 

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, Impuls LTU, the largest health club operator in Lithuania, YP MobileWorks, mobile commerce company.

 

For further information please contact:

Kornelijus Celutka

Investment Director

BaltCap
Tel.: +370 5 254 6713

e-mail: kornelijus.celutka@baltcap.com

BaltCap invests in the biggest garden furniture production unit in the Baltic States

The leading venture capital company in the Baltic States BaltCap has agreed with the garden furniture production company EKJU on investment in amount of 1.5 million euros. It is expected that the investment will be made in modernization of the company’s production unit and working capital.

 

“Already now 95% of company’s production is being exported. With the management of the company we have agreed that EKJU needs to strengthen its positions and in medium term it must become one of the leading European companies in its segment. The goal is ambitious enough but with our business knowledge and financing we are sure that we can achieve it,” says Investment Director of BaltCap Peteris Treimanis.

 

Now EKJU is exporting its production to Great Britain, Denmark, France, Sweden, Norway, Ireland, Spain and the Netherlands.

 

Peteris Treimanis believes that in Latvia there are all preconditions for the company to be among leaders in Europe. “Latvian timber is a raw material of good quality and available for production; we have also highly-skilled employees who can produce an offer meeting the needs of the export market,” says Peteris Treimanis.

 

“By attracting a venture capital company to our development, we acquire not only financing but also serious experience in the management of a production company, as well as valuable international contacts,” explains the Head of EKJU Juris Skolins commenting on the company’s development plans.

 

The BaltCap investment project is being implemented with investment of private investors and financing of European Union structural funds administered by the Latvian Guarantee Agency. Director of the LGA Ivars Golsts emphasises that investment in an exporting company with ambitious development plans is an excellent example of effective use of state aid. Up to now, BaltCap has attracted financing for 7 investment projects within the framework of the state supported programme.

 

SIA EKJU is the biggest garden furniture producer in the Baltic States employing more than 180 people. The administrative office of the company is in Riga but production units are in Cesis district, Drebesi parish. In 2011 the company’s turnover was 6.8 million euros which is 13% more than a year before that.

 

Further information:

Peteris Treimanis

Investment Director

Phone +371 29122716

E-mail: peteris.treimanis@baltcap.com

Clusterpoint raises EUR 1 million from BaltCap

BaltCap, the leading venture investor in the Baltics, has signed an EUR 1 million investment in Clusterpoint, an ultra-fast database management system with built-in Internet-style search functionality. The company is an enterprise software start-up created by Latvian programmers and backed by seed investors from the UK and the Baltics.  Clusterpoint has built a highly scalable database platform designed for cloud computing infrastructure. Clusterpoint’s database software provides superior performance on modest hardware so that it delivers greater energy-efficiency in data centres. The company has paying customers and revenue and will use BaltCap’s investment to expand internationally, including hiring senior management in the US. Gints Ernestsons, Clusterpoint’s co-founder and CEO, stated: “Our customers like how Clusterpoint adds value to their data-intensive businesses while reducing the number of transactions required to access relevant data. Clusterpoint’s software is particularly well suited to cloud computing and data centres looking to improve performance and cost-efficiency. Our team of top class programmers has designed and built a compelling product comprising natively scalable NoSQL database software with lightning-fast integrated full-text search in structured and unstructured data. Our unique ranked indexing method delivers nearly linear database scalability in clusters. We look forward to working with BaltCap during our next growth phase.” “We are impressed by the strength of the technology that Clusterpoint has built, with the expert competence of the founders and team, and we believe that Clusterpoint can scale into a highly successful international business,“ said Mārtiņš Jaunarajs, Investment Director at BaltCap. BaltCap Latvia Venture Capital Fund investing in Clusterpoint comprises commitments from private investors as well as from the EU-sponsored JEREMIE programme which is administered by the Latvian Guarantee Agency.

 

Further information:

 

Martins Jaunarajs

BaltCap

Investment Director

Phone +371 6735 6398

E-mail: martins.jaunarajs@baltcap.com

 

Gints Ernestsons

Clusterpoint

CEO

E-mail: gints@clusterpoint.com

BaltCap Latvia Venture Capital Fund invests in Vendon

BaltCap, the leading private equity and venture capital investor in the Baltic States invests EUR 0.5 m into Latvian business “Vendon” which produces monitoring systems and solutions for vending machines.

 

Vendon is a draugiem.lv group company supplying international and local vending machines with Latvian-produced equipment and solutions with support of telemetry systems. This allows to follow capital and product flow in the machines as well as efficiently receive information about damages or other technical problems, thus dramatically optimizing human resources and transportation-related losses.

 

“We’re proud to be one of the few in the world who have developed such solutions which are already highly appreciated and recognized by our current customers. All processes – programming and equipment production – happen in Latvia, thus adding value to local economy. This investment will offer us faster development, providing new employment vacancies and organizing active international selling. I’m sure that we’ll create a new export success story for Latvia,” says Vendon’s Sales Director in Europe Georges A. Cywie.

 

BaltCap’s financing is made up of private investor contributions as well as European Union Structural Funds money which is administered by the Latvian Guarantee Agency.

 

“We are truly delighted by the opportunity to support experienced professionals from the Vendon team in their ambitious plans. Currently, these types of solutions are not extensively developed in Europe. That’s why we belive that Vendon, with their user-friendly solutions and experienced team will help to create effective telemetry solutions,” declares Martins Jaunarajs from BaltCap.

 

“State-supported investments in innovative and quickly growing companies such as Vendon are our priority. We foresee true business success and a return on investment in the future. By bringing together Vendon and Baltcap professionals’ knowledge, it will certainly succeed,” commented Ivars Golsts, director of the Latvian Guarantee Agency.

 

Further information:

Mārtiņš Jaunarājs

Investment Director

BaltCap

Phone +371 2924 3056

E-mail: martins.jaunarajs@baltcap.com

BaltCap invests in pan-Baltic laboratory supplier Labochema

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.

 

Further information:

Kornelijus Celutka

Investment Director

BaltCap
Tel.: +370 5 254 6713

e-mail: kornelijus.celutka@baltcap.com

BaltCap backs leading Lithuanian health club chain Impuls

Lithuania SME Fund managed by BaltCap, the largest private equity and venture capital investor in the Baltic countries, has invested in Impuls LTU, operator of the leading Lithuanian health and fitness club chain.  

 

With 8 gyms in Lithuania’s main towns, Impuls LTU will be the largest health club chain in the country. Impuls LTU operates only large format clubs the size of which ranges from 2000 sq. meters to 6600 sq. meters. Impuls clubs offer their clients main workout and cardio areas, group exercise classes and pools as well as additional products and services. The investment should support an aggressive expansion of the chain, both organic and through add-on acquisitions.

 

“We are very excited about our investment in Impuls LTU” said Kornelijus Celutka, Investment Director at BaltCap. “Health club market in the region is poised to grow strongly in medium term, fuelled by recovering purchasing power and increasing people’s awareness of their health, fitness and regular exercise. Fitness club industry penetration in Lithuania is still several times lower than EU average of 8%. As a clear market leader in Lithuania, Impuls has built a solid platform for expanding the chain locally and looking for growth opportunities abroad.”

 

Graham Cope, Head of Region in European Investment Fund, stated: “Investment into Impuls LTU is the second transaction by BaltCap’s Lithuania SME Fund established with our cornerstone investment from EIF. This investment illustrates again that government support of the JEREMIE Holding Fund activities is delivering the right impact to vibrant companies with strong prospects for the future.”

 

Lithuania SME Fund is a growth capital fund organized by BaltCap in 2010 as part of the JEREMIE initiative in Lithuania. JEREMIE Holding Fund in Lithuania managed by 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, EUR 14 million of which is provided by JEREMIE Holding Fund and EUR 6 million by leading Baltic financial institutions, including SEB Venture Capital, asset management companies of LHV, Swedbank and DnB. The Fund provides growth equity financing for small- and medium-sized enterprises based in Lithuania up to EUR 3 million per company.

 

This is the second investment by Lithuania SME Fund in the country in 2011. Earlier this year, the fund has invested into Ygle, building engineering system solution and service provider.

 

For more information:

Kornelijus Čelutka

Investment Director

BaltCap
Tel.: +370 5 254 6713

E-mail: kornelijus.celutka@baltcap.com

BaltCap Latvia Venture Capital Fund invests in AGroup

BaltCap, the leading private equity and venture capital investor in the Baltic States, invests EUR 1.5 m in Riga-headquartered IT company AGroup to obtain a significant minority stake. This investment is done by BaltCap Latvia Venture Capital Fund which is part of the EU Structural Fund’s co-financed JEREMIE Holding Fund managed by the European Investment Fund in Latvia.

 

AGroup, established in 2008, is a developer of human resource management solution HRB with more than 500 installations in 24 countries. HRB is a flexible and easy localizable product that integrates smoothly with all leading ERPs as Oracle, SAP, Sun Systems, Microsoft Dynamics NAV, etc. Currently, HRB offers core HR functionality (payroll calculation, work time recording, etc) while the new version of software will add new strategic functions such as talent management, recruiting management and personnel evaluation.

 

“We are proud and very excited about being able to support the skilled team of AGroup in their ambitious growth plans. AGroup is one of the leading HRM solution providers in CIS and Eastern European countries, and this is a unique opportunity for our fund to back a software company with truly international reach and strong foothold in a fast growing market,” says Mārtiņš Jaunarājs from BaltCap.

 

“Co-operation with the leading Baltic venture capital investor is a big leap forward as it boosts our growth rates significantly. The investment helps us to finish the development of fifth version of our HRB product and enables delivery using Software as a Service model (Saas). Also, we will strengthen our sales team, expand the partner network and ramp up the marketing efforts. We appreciate Baltcap’s faith in us and believe that together we will reach our goals”, adds Alexander Snurnitsyn, CEO of AGroup.

 

Further information:

 

Mārtiņš Jaunarājs

Investment Director

BaltCap

Phone +371 2924 3056

E-mail: martins.jaunarajs@baltcap.com

 

Alexander Snurnitsyn

CEO

AGroup

Phone +371 2696 0857

E-mail: alexander.snurnitsyn@agroup.com

BaltCap invests in liquid crystal display production company EUROLCDS

BaltCap, the leading private equity and venture capital investor in the Baltic States, has provided financing for start-up liquid crystal display production company EUROLCDS. The aim of EUROLCDS is to create the specialised liquid crystal display production company with global customer base. This investment has been completed within the EU Structural Fund’s co-financed JEREMIE initiative managed by the European Investment Fund in Latvia.

 

The new enterprise based its success on experienced entrepreneurs team as well as on co-owner’s – LC-TEC AB (Sweden) – long term experience and contacts in production and R&D of liquid crystal displays. The potential customers are industrial and medicine equipment producers and sellers of EU countries, USA and Japan that use liquid crystal displays elements as parts for their products. As most demanded liquid crystal display application today, stereoscopic and volumetric 3D video projection equipment can be mentioned.

 

“We are delighted for the opportunity to finance the development of a new enterprise, competitive advantage of which is based on world class technology, patented products and new product development opportunity. We are also happy to provide new vacancies in global sales based company and to create additional motivation for young students to study engineering sciences,” said Peteris Treimanis, Investment Director at BaltCap.

 

As an answer to the question about choosing Latvia as the target country and BaltCap as co-operation partner, Ǻke Hornell, CEO of the company stated: “My main reason for choosing Latvia for this establishment was the good experience from starting the electronics manufacturing business, Hansa Electronics. In this venture we have had a good co-operation with Baltcap and it was natural to seek contact with Baltcap also for the new LCD venture.”

 

“Decision to establish the company in Latvia is a significant step for developing know-how based economy since it creates an opportunity for engineers’ intelligence to participate in one of the world’s hi-tech development streams. It is also very important for our potential customers that we are part of European Union and able to provide security on both -intellectual property and patented technology solutions,” added Ilmars Osmanis, Board Member of EUROLCDS.

 

Further information:

Peteris Treimanis

Investment Director

BaltCap

Phone +371 29122716

E-mail: peteris.treimanis@baltcap.com

www.baltcap.com

 

Ilmars Osmanis

Member of the Board

EUROLCDS

Phone +371 29203083

BaltCap invests in corporate media production company Oobelisk

BaltCap, the leading private equity and venture capital investor in the Baltic States, has provided financing for start-up of the corporate media production company Oobelisk, gaining a majority stake in the company. The aim of Oobelisk is to become the leading player in Eastern and Northern Europe in this sector. This investment has been completed within the EU Structural Fund’s co-financed JEREMIE initiative managed by the European Investment Fund in Latvia.

 

Oobelisk management team are long-term professionals in the media and TV production business. Capitalizing on previous experience in the sector, the company is planning to offer unique range of corporate media products, ranging from audio visual annual reports and yearbooks to interactive presentations. The potential clients of Oobelisk are Baltic, Northern and Eastern European leading companies, for which the corporate image, as well as communication with shareholders, employees and society is of upmost importance.

 

“We are delighted for the opportunity to finance development of the innovative products developed by Oobelisk’s professional management team. We believe there is large market demand for such products by corporate clients and the company has good chances to become a leading player in the corporate media production business in the Baltic States and the neighbouring markets,” said Astra Neimane, Investment Director at BaltCap.

 

“On behalf of Oobelisk we are very honoured to see BaltCap, the leading private equity and venture capital investor in the Baltic states, as our partner. The key idea behind Oobelisk is changing the old business model of media production companies and working with clients in cooperation forms new to the market. Along with development of the media space and technologies, we would be offering our clients new products which suit their communication needs the bestWeluros tiek sniegts atblasts utsourcinga l”, said Kristaps Pētersons, Chairman of the Board and Business Development Director of Oobelisk, describing the uniqueness of Oobelisk.

 

Graham Cope, Head of Region, European Investment Fund, stated “We are very pleased to see Baltcap’s continued investments in high growth potential companies based in Latvia with a wider regional reach. This investment in Oobelisk illustrates again that government support of the JEREMIE Holding Fund activities is delivering the right impact to vibrant companies with strong prospects for the future.”

 

Further information:

Astra Neimane

Investment Director

BaltCap

Phone +371 2911 6680

E-mail: astra.neimane@baltcap.com

 

Kristaps Pētersons

Chairman of the Board

Oobelisk

Phone +371 2633 9299