In the history of Livonia Partners, 2021 was one that probably provided the most learning. We made fewer investments than in previous years, yet we learnt important lessons working with our portfolio, our investors, and with our team. At times we took some steps back in order to take more steps forward.

The company develops structures and products in glass fibre reinforced polyester (GRP). It is the first investment for Livonia’s second fund, which recently held its first close.

Livonia Partners announces the first close for its second fund, KS Livonia Partners Fund II, at €147 million and near the hard cap.

The transaction is a second exit for Livonia Partners Fund I.

Scoro, an award-winning work management software for professional service businesses, has closed a $16.4 million Series B funding round led by Kennet Partners.

By far the most common question we get from investors going from first to second fund is what have we learned. A lot. We spent a lot of time together before launching our first fund to determine what investments we collectively like versus what does and does not work investing in the Baltic region.

We are thrilled to publish Livonia’s 2019 Environmental, Social & Governance Report discussing the impact our portfolio companies have on the environment and society. Today, we are celebrating the fact that all of our portfolio companies have made real and measurable advances in sustainability and governance.

Thermory’s journey was one with multiple twists and turns. We initially invested in Ha Serv in February 2016 when it was a single-entrepreneur company in the wood processing sector, an industry with long traditions and multiple successes in the Baltics. Our original conviction was to invest in market leadership, strong cash flow and management talent.

Livonia Partners has signed a preliminary agreement to sell the majority ownership in Thermory AS, a global leader in thermowood production, to Estonian holding company UG Investeeringud.

To contribute to the availability of world-class business and economics education in the Baltics, and to raise awareness about the private equity industry among university students, Livonia Partners continues cooperation with Stockholm School of Economics in Riga.

Livonia Partners has reached an agreement to acquire Klaasimeister, an Estonia-based float and specialty glass processor specializing in providing insulated glass units and other glass products to complex facade projects.

Livonia Partners’ portfolio company Hortes is set to open its second gardening centre in Tallinn on 2 November 2019. The purpose-built building is located in Tähesaju City, a commercial hub in the Eastern part of Tallinn and features 5,000m2 of retail area, doubling Hortes’ retail footprint in Tallinn.