Thermory and Ha Serv merge to become the world’s largest producer of thermally modified wood and sauna materials

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.
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EfTEN to build a new gardening center for Hortes in Tallinn’s Tähesaju city

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.
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Livonia Partners to buy stake in refrigeration innovator Freor

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.
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Ha Serv makes strategic add-on acquisition in Finland

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.
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Livonia Partners consortium to invest in cable network operator Cgates

Livonia Partners, the pan-Baltic private equity firm, together with LHV Pension Funds and Ambient Sound Investments, agreed to invest in Cgates, a leading Lithuanian provider of cable television and internet services.
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Livonia Partners portfolio company Hortes sells its gardening centre property to EfTEN

AS Hortes, Livonia Partners portfolio company, has sold its real estate property in Laagri to a public closed-end alternative investment fund EfTEN Real Estate Fund III in a sale-and-leaseback transaction with a long-term rental contract.
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Livonia Partners to acquire Santa Monica Networks in Latvia and Lithuania together with management

Livonia Partners, the pan-Baltic private equity firm, and Santa Monica Networks management, agreed to acquire Santa Monica Networks, leading providers of network and IT security solutions in the Baltic region.
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Livonia Partners has agreed to acquire Hortes, Estonia’s top home and garden brand

Livonia Partners, the pan-Baltic private equity firm, has agreed to acquire Hortes, the leading retail brand for home and gardening products in Estonia. Livonia will support the company in realising its strong regional growth potential.
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Livonia reaps 10x selling Qvalitas from legacy portfolio

The pan-Baltic private equity firm Livonia Partners sold its minority stake in Estonia’s biggest occupational healthcare provider Qvalitas Arstikeskus – the last remaining asset in Livonia’s legacy portfolio. The investment produced an IRR of 44% and a multiple on invested capital of more than 10x.
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Livonia Partners brings NYSE company to Baltics with Archyvų Sistemos Exit

The pan-Baltic private equity firm Livonia Partners has brought New York Stock Exchange-listed Iron Mountain (NYSE:IRM), the world’s biggest archive services firm, to the three Baltic countries by exiting Archyvų Sistemos, a company in its legacy portfolio.
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Livonia Partners acquires Ha Serv as first investment

Livonia Partners, a pan-Baltic private equity firm, has acquired a majority stake in Ha Serv, a leading manufacturer of wooden sauna components, ready-made saunas and thermal wood products. The investment strengthens Ha Serv’s ability to continue supporting its global customer base.
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Livonia Partners reaches €70 million first close on maiden fund

Livonia Partners Fund I, a pan-Baltic private equity fund, has held its first close. Fund’s investors from the Baltics, Nordics, and Western Europe include leading pension funds, insurance companies, and developmental finance institutions. The fund plans to invest €3 to €15 million of equity per investment.
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