Czech investor Royalton Partners has made its first Lithuanian investment, and its second deal in the Baltic states, by acquiring 100% of Litcargus UAB from Cerbus Holdings, Ltd. The acquisition will be made through the Royalton Capital Investors II fund which was originally established in 2007 to focus on Poland, Romania, and the Czech Republic.
The deal is in keeping with Royalton’s strategy of acquiring controlling interests in growth companies with little or no international competition.
The ground handling industry, which Litcargus is engaged in, is expected to rebound in Lithuania as the CEE economy continues to grow stronger.
Litcargus UAB (www.litcargus.lt)
Litcargus UAB was established in 1993 as the first privately-owned ground handling operation servicing both airlines and freight companies in Lithuania. The company provides baggage handling, cargo and mail handling, passenger ticketing and GSA service, ramp services, and more.
The company employs more than 300 individuals at facilities located at the Vilnius and Kaunas airports. Last year Litcargus processed more than 3,000 tons of cargo and provided services to 1.5 million travelers.
Royalton Partners (www.royalton-partners.com)
Royalton Partners is a European private equity and buy-out firm established in 1996 by several partners who had been working together in the Czech banking industry since 1990. The firm currently manages two funds which are focused on nations that are currently members of the European Union or in the application process to become members.
Sectors of interest include transportation, retail, education, healthcare, media, and financial services.
Offices are located in Prague, Warsaw, and Zürich.
23/03/2011
Automotive & Aerospace & Nautical, Central & Eastern Europe, Investment, Lithuania, Private Equity News, Transportation & Logistics