BaltCap sold its minority position in one of the leading Baltic office supplies companies UAB Daily Service to Aigas Holding SIA, a company related to Iceland-based office supplies group Penninn h.f. for an undisclosed amount.
UAB Daily Service (www.dailyservice.lt)
Founded in 1999, Daily Service operated as international franchise of Office 1. Since 2004, the Company operates under the Daily Service name focusing on the business-to-business area and acquiring companies in Latvia and Estonia. In total the group comprises 10 companies in the Baltic states.
In 2006, Daily Service reached a turnover of € 20.4 million.
BaltCap (www.baltcap.com)
BaltCap Management is one of the leading independent private equity and venture capital provider focusing on mid-market expansion capital and buyout investments in the Baltic States. BaltCap has a presence in all three Baltic countries with a team of 10 investment professionals.
To date BaltCap has managed four private equity and venture capital funds with total capital of € 50 million and has made 35 investments out of which 22 have been fully exited.
May 11, 2007
Central & Eastern Europe, Countries, Exit, Lithuania, Private Equity News