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.

The acquisition creates a group with more than €100 million in annual sales.

Livonia Partners portfolio company Fenestra Suomi has acquired assets of the bankrupt Finnish window manufacturer Domus. The purchase includes window and aluminium factories in Loimaa, closed since December 2018 after the previous owner filed for bankruptcy.

Livonia Partners has acquired 60 percent equity stake in Fenestra to support company’s fast growth in export markets. The acquisition has been approved by Estonian Competition Authorities.

Business management platform Scoro has closed a €4.4 million Series A round led by Livonia Partners with participation from existing investors Inventure and Tera Ventures.

The merger of Thermory, the leading producer of thermally modified wood, and Ha Serv, Europe’s largest manufacturer of sauna materials and ready-made saunas, has led to the creation of a global market leader in these segments.

Hortes AS, Estonia’s leading home and garden retail brand, will be the tenant of a new garden centre that EfTEN Real Estate Fund III AS is to build in Tähesaju City in the Lasnamäe district of Tallinn, under an agreement that has been signed by EfTEN and Hortes.

Livonia Partners has agreed to invest in FREOR LT to support the producer of sustainable commercial refrigeration equipment scale and meet growing international demand. Lithuania-based FREOR supplies energy-efficient and environmentally friendly commercial refrigeration solutions to top retailers and supermarket chains across Europe and beyond.

Estonian wood manufacturing company Ha Serv has acquired Suomen Lämpöpuu Oy (SLP), a specialised manufacturer of thermo-treated wood products. Ha Serv and SLP combination broadens the companies’ product portfolio and global reach.