We believe that long-term success requires a sustainable strategy, and that we can deliver better returns to our investors by making responsible investments.
Livonia Partners is a signatory to the United Nations Principles for Responsible Investment and is committed to its key principles.

Livonia Partners - A Focus on Impact Investing

We are committed to investing a significant share of capital into businesses having a meaningful positive impact on climate change and environment at large, society well-being and health, sustainable, fair and socially responsible communities.

We provide vision, guidance, capital and other resources to help our portfolio companies implement specific initiatives with a positive environmental impact.

Livonia Partners Fund I - Capital Invested in Companies with an Environmental Angle

Livonia Partners Portfolio companies that are taking specific measures that their core business model, their end products or operational processes have a specific positive impact on the environment.

  • Freor develops and manufactures commercial refrigeration equipment with a particular focus on environmental sustainability.
  • Freor’s products help retailers reduce their negative impact on the environment by using the natural refrigerant 'propane R290' for self-contained display refrigerators and freezers of Green Wave R290 product line.
  • Freor's products help retailers improve energy usage through a unique energy-efficient Hydroloop glycol cooling system.
  • Freor is currently investing €11 m into the construction of a new manufacturing facility which utilizes advanced energy efficiency systems.
  • The company aims for high quality standards and has obtained ISO 9001 (quality management), 14001 (environmental management), and 50001 (energy management) certificates.
  • Thermory naturally modifies responsibly-harvested wood, preserving its beauty and enhancing its durability. This makes Thermory products ecologically superior to most alternatives - tropical hardwood, plastic composite materials, or products treated with toxins.
  • Thermory only uses raw materials from sustainably managed forests in North America and Europe. The company frequently tests the products for compliance with environmental forestry practices (Swan Label, PEFC).
  • Since 2018, Thermory has specifically invested €4.6 million into environmentally conscious initiatives, such as new energy efficient machinery and technology. In addition, the company was also awarded a grant of €1.5 million from the Estonian Centre for Environmental Investments.
  • Klaasimeister focuses on producing energy efficient insulated glass units, contributing to higher building standards and more energy efficient buildings.
  • The company uses state-of-the-art machinery and is one of the most reliable, efficient and technologically advanced glass processing companies in Northern Europe.
  • In 2018, Klaasimeister invested over €1.7 million into a new, more energy efficient tempering oven and received a grant of €0.5 million from the Estonian Centre for Environmental Investments.
  • Klaasimeister operates its own water treatment, circulation, and purification plant to optimize water usage and re-use the industrial water.
  • Fenestra uses natural wood to manufacture high-quality energy conserving windows and balcony doors.
  • Over the years, the company has made significant investments into increasing production efficiency and has taken other measures to become more environmentally conscious.
  • Its Finnish production unit recently switched to using more environmentally friendly water-based paint and utilising production waste for heating the premises.
  • Fenestra has obtained ISO 9001:2015 and VTT certificate for high heat-proofing standards and sound insulation.

Livonia Partners ESG Policy

Livonia Partners Environmental, Social & Governance Annual Report 2019

Livonia Partners is an active member of the Latvian, Lithuanian and Estonian Private Equity and Venture Capital Associations.