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.

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.