Baltic states PE and VC leader BaltCap has made a sizeable investment in Ekju, the regions largest garden furniture manufacturing house. The EUR 1.5 mln investment is likely to be used to modernize the target company’s production facilities as well as contribute towards its working capital. The funding comes from a mix of private investors along with EU structural funds, the second of which are operated and sanctioned by the Latvian Guarantee Agency.
Ekju is the largest producer of garden furniture and equipment in the Baltic states region. Based in Riga with production units in the Cesis district of the Drebesi parish, the company now employs 180 people across its offices and production units. Boasting a 2011 revenue figure of EUR 6.8 mln, 95 percent of the company’s products are exported within the European market. The company was founded in 1992 as a joint venture between Germany and Latvia, but as of 2003, the capital is completely under the control of Latvian citizens.