Livonia Partners closes second buy-out fund above target at €157 million

September 8, 2022

Livonia Partners has raised €157 million for its second fund, cementing its position as a leading private equity investor in the Baltic region. With the fund closing above target, Livonia Partners has grown significantly since its first fund at €73 million in 2015. Speciality manufacturing and TMT sectors remained key value drivers from the first [...]

Livonia Partners invests in wellness platform Stebby

June 8, 2022

Stebby, the largest wellness service marketplace in the Baltics, is being acquired by Livonia Partners in a management buyout transaction. According to Kestutis Mackelis, CEO of Stebby, new ownership will allow Stebby to strengthen its position in the Baltic market and provide resources for further product and geographic expansion. ‘My last 4 years at Stebby [...]

Bestair Group and Zave Group team up with Livonia Partners for next growth phase

January 26, 2022

Livonia Partners, a pan-Baltic private equity firm, has made an investment in Bestair Group and Zave Group, which are leading providers of green home climate solutions, operating in B2B and B2C segments in 8 different countries. Livonia’s investment is designed to support continued growth across the company’s geographies and business lines. Bestair was founded by [...]

Hard thing about hard things

January 26, 2022

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. Baltic investment field [...]

Livonia Partners has agreed to acquire a majority stake in composite structures producer CSUB

December 8, 2021

Livonia Partners has agreed to acquire a majority stake in CSUB AS, a specialised developer of composite solutions for the subsea, offshore, aquaculture, renewables, and civil engineering industries. It is the first investment for Livonia’s second fund, which recently held its first close. “CSUB has a solid record of growth and profitability in recent years [...]

Livonia Partners holds first close on second buy-out fund at double the size of first fund

September 9, 2021

Livonia Partners announces the first close for its second fund, KS Livonia Partners Fund II, at €147 million and near the hard cap.  The fund pledges to invest capital into companies and opportunities addressing climate change and environmental sustainability. Livonia Partners Fund II is backed by a number of institutional investors across the Baltic and Nordic [...]

Livonia Partners signs an agreement to sell majority stake in Santa Monica Networks to LMT

June 1, 2021

On Monday, the 31st of May, Livonia Partners, along with the minority shareholders in Santa Monica Networks, a networking and IT security solutions provider in Latvia and Lithuania, signed an agreement to sell their shares in Santa Monica Networks to Latvijas Mobilais Telefons Ltd. (LMT). LMT will then own 100% of Santa Monica Networks. Completion [...]

Scoro Raises $16M to Take Work Management Software to Next Level

March 9, 2021

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. Additional investors include Livonia Partners, Inventure, Columbia Lake Partners and Tera Ventures. The investment will fuel continued global expansion and is supported by new French and Spanish versions of the software.  “Even [...]

Ahead of Livonia Partners next fund

February 23, 2021

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. By [...]

Livonia 2019 ESG Report

September 4, 2020

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

Why we invested in Thermory

July 13, 2020

Thermory’s journey was one with multiple twists and turns. Actually 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 [...]

Livonia Partners has signed an agreement to sell majority stake in Thermory to UG Investeeringud

June 5, 2020

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. UG Investeeringud had previously been a minority shareholder of the company.

Livonia Continues Partnership with the Stockholm School of Economics in Riga

February 20, 2020

In order 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 has established a cooperation with Stockholm School of Economics in Riga and the university’s Alumni Association. In 2019 and 2020, Livonia representatives Rain Lõhmus, Kristīne [...]

Livonia Partners has reached an agreement to acquire Klaasimeister

October 27, 2019

Livonia Partners has reached an agreement to acquire Klaasimeister, an Estonia-based export driven glass processing company. The transaction is expected to close at a later date, subject to approval by the Estonian Competition Authority. The parties have agreed not to disclose the financial details of the transaction.

Hortes to open its second gardening center in Tallinn

October 18, 2019

Livonia Partners’ portfolio company AS 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.

Global leader in thermowood production Thermory acquired painted products specialist Siparila

October 9, 2019

European specialist of indoor and outdoor painted claddings Siparila Oy has been acquired by global thermowood producer Thermory AS. The combination creates a group with more than €100 million in revenues with manufacturing and sales capability in key regions internationally. The transaction was financed by SEB.

Fenestra acquires a factory in Finland

March 15, 2019

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.

Livonia Partners acquires majority stake in leading window producer Fenestra

February 15, 2019

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.

Scoro, a business management software platform, closes €4.4 million funding round

November 6, 2018

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.

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

October 29, 2018

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.

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

September 21, 2018

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. The main contractor for the construction project [...]

Livonia Partners to buy stake in refrigeration innovator Freor

August 8, 2018

Livonia Partners has agreed to invest in FREOR LT to support the producer of sustainable commercial refrigeration equipment scale and meet growing international demand. Livonia is buying a 33 percent equity stake in FREOR from Accession Mezzanine Capital.

Ha Serv makes strategic add-on acquisition in Finland

July 18, 2017

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.

Livonia Partners consortium to invest in cable network operator Cgates

June 27, 2017

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.

Livonia Partners portfolio company Hortes sells its gardening centre property to EfTEN

June 19, 2017

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.

Livonia Partners to acquire Santa Monica Networks in Latvia and Lithuania together with management

March 20, 2017

Livonia Partners, the pan-Baltic private equity firm, and Santa Monica Networks management, agreed to acquire Santa Monica Networks Latvia and Santa Monica Networks Lithuania, leading providers of network and IT security solutions in the Baltic region, from Santa Monica Networks Group. In a related transaction, Elisa Corporation of Finland has entered into an agreement to [...]

Livonia Partners has agreed to acquire Hortes, Estonia’s top home and garden brand

October 11, 2016

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.

Livonia reaps 10x selling Qvalitas from legacy portfolio

July 16, 2016

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.

Livonia Partners brings NYSE company to Baltics with Archyvų Sistemos Exit

March 16, 2016

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.

Livonia Partners acquires Ha Serv as first investment

February 10, 2016

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 reaches €70 million first close on Maiden fund

August 5, 2015

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 and mezzanine capital per investment in 8 to 12 companies active [...]