BaltCap

BaltCap is an independent private equity firm focused on small and midmarket buyout and expansion capital investments across the Baltic States. Based in Tallinn, Estonia, it maintains offices in all three Baltic countries and employs a team of 16 professionals who support growth across diverse sectors, including business and financial services, healthcare, industrials, technology, media, telecom, consumer, education, renewable energy, mobility, logistics, cybersecurity and mixed reality. Since its founding in 1995, BaltCap has managed private equity and venture capital funds with total committed capital of over EUR 260 million and has completed more than 60 investments. It is a member of regional private equity associations and has been a signatory to the United Nations Principles for Responsible Investment since 2008, reflecting its commitment to responsible investment practices.

Martins Jaunarajs

Partner

Marek-Andres Kauts

Investment Director

Maciej Kopanski

Investment Director

Oliver Kullman

Partner

Vineta Kutkevica

Financial Director

Marius Miškinis

Investment Director

Eneken Napa

Partner and Finance and Risk Director

Matiss Paegle

Investment Director

Juris Parups

Investment Director

Robertas Petrauskas

Investment Director

Sten Sonts

Investment Director

Sarunas Stepukonis

Infrastructure Fund Partner

Past deals in Lithuania

Baltic Ticket Holdings AS

Acquisition in 2021
Baltic Ticket Holdings AS is a prominent ticket distribution company operating in Estonia, Latvia, Lithuania, and Belarus. Founded in 1997 in Tallinn, Estonia, the company initially launched its services under the trademark Piletilevi by selling tickets to high-profile events, including a Michael Jackson concert. Over the years, Baltic Ticket Holdings expanded its operations, establishing ticketing networks in Latvia in 2000 and Lithuania in 2008, followed by a launch in Belarus in 2010. The company manages a comprehensive ticketing system that includes an online platform and a physical network of 400 sales points, catering to a combined population of approximately 7 million people in the Baltics and Belarus. Its in-house online ticketing system, developed since 2001, supports a wide range of events, handling significant sales volumes for major occasions like concerts and festivals. Baltic Ticket Holdings AS has become a leading ticketing provider in the region, consistently adapting its services to incorporate the latest technological advancements.

Verkter Group

Private Equity Round in 2020
Verkter Group is a commercial entity based in Vilnius, Lithuania, specializing in do-it-yourself and gardening tools, accessories, and aftermarket parts. The company offers a wide range of products, including screwdrivers, hammers, angle grinders, and measuring tools, catering to customers engaged in various repair and improvement projects. Verkter operates primarily through an eCommerce platform, providing access to its diverse inventory and enabling customers to conveniently purchase the tools they need for their home and garden tasks.

Krekenavos

Acquisition in 2020
Krekenavos Agrofirma, based in Kedainiai, Lithuania, is a prominent meat processing company with over 20 years of experience. Founded in 1993, it has become one of the largest and most modern meat processing facilities in the Baltic States. The company specializes in a wide range of meat products, including boiled pates, cooked sausages, frankfurters, and various smoked and dried meats. Additionally, Krekenavos Agrofirma produces pork and beef carcasses, offal, as well as chilled and frozen cut meat. With a commitment to providing affordable and high-quality meat products, the company serves both domestic and international markets. Krekenavos Agrofirma operates as a subsidiary of Edvervita, UAB.

UPRENT

Debt Financing in 2016
UPRENT is a rental provider based in Riga, Latvia, specializing in pumps and pumping systems for various applications in Eastern Europe. Founded in 2013, the company offers a comprehensive range of services, including equipment rental, project planning, delivery, installation, and sales of various pumping equipment. Its inventory includes well point dewatering pumps, sewage pumps, drainage pumps, submersible pumps, and a variety of related equipment such as power generators, trench shoring systems, and hydraulic tools. UPRENT serves multiple industries, including construction, agriculture, mining, and emergency services, providing tailored pumping solutions for projects like sewage pumping, groundwater purification, and industrial reservoir cleaning. The company emphasizes customer satisfaction through effective communication and service adaptation to meet client needs. With branches in Latvia, Lithuania, Estonia, and Poland, UPRENT is committed to delivering efficient services that optimize operational effectiveness and reduce energy costs for its clients.

Fitek Group

Acquisition in 2016
Fitek Group is a financial process automation solutions provider based in Tallinn, Estonia, with operations in Latvia, Lithuania, and Slovakia. Established in 1995, the company specializes in optimizing and automating a wide range of financial processes, including purchase invoice management, document workflow, and complex sales invoice solutions. Fitek serves over 1,000 clients across the Baltic states, Nordic countries, and Central Europe, including leading banks, telecoms, public sector institutions, and various other industries. The company employs more than 130 qualified professionals dedicated to delivering efficient financial solutions that can significantly reduce resource allocation by up to five times. Through its innovative services, Fitek aims to enhance operational efficiency for its customers while lowering their costs.

BPT Real Estate

Acquisition in 2015
BPT Real Estate AS is a commercial property management company based in Tallinn, Estonia, with additional offices in Riga, Vilnius, Warsaw, and St. Petersburg. Since its founding in 2001, the company has specialized in providing comprehensive property and asset management services throughout the business life cycle. Its offerings include tenant relationship management, facility management, and the preparation of property budgets and business plans. Additionally, BPT Real Estate assists clients with project management, acquisitions, dispositions, and feasibility studies, while also providing operational financial administration and support for dealings with public authorities. The company serves a diverse clientele, including property owners, institutional investors, and portfolio owners across the Baltic Sea region, leveraging its extensive market knowledge and experience to enhance the value of real estate investments.

UAB Ecoservice

Acquisition in 2014
UAB Ecoservice is a waste management company based in Vilnius, Lithuania, founded in 1995. It specializes in the collection, transportation, and processing of municipal waste and recyclable materials. The company operates a fleet of vehicles to manage the removal and transport of various types of waste, including graveyard refuse. In addition to waste management, Ecoservice provides urban cleaning and street maintenance services, as well as leases household waste containers and other related equipment. The company is committed to social responsibility, actively engaging in educational initiatives and organizing campaigns for the collection of secondary raw materials. Through these efforts, Ecoservice aims to contribute positively to the community and support youth organizations.

InMedica Klinika

Private Equity Round in 2012
InMedica Klinika is a prominent operator of primary care and specialized clinics in Lithuania, managing a network of 11 clinics. The organization serves approximately 40,000 registered patients and employs around 200 healthcare professionals, including doctors and support staff. InMedica Klinika provides a wide range of medical services, encompassing outpatient treatment, diagnostic examinations, surgery, dentistry, and physiotherapy. The clinics focus on treating various diseases while also offering preventive medical services, such as vaccinations and health screenings. By utilizing modern medical instrumentation and extensive laboratory capabilities, InMedica Klinika aims to enhance patient health, support disease management, and promote overall wellness through appropriate preventive measures and lifestyle development.

Coffee Inn

Private Equity Round in 2012
Coffee Inn is the leading gourmet coffee chain in Lithuania, Latvia and Estonia, successfully launched in 2007 by a group of enterpreneurs and professionals.

Ygle

Private Equity Round in 2011
UAB Ygle, based in Vilnius, Lithuania, specializes in the design, installation, and maintenance of building utility systems. Established in 1995, the company offers a wide array of services, including heating, ventilation, air conditioning, water supply, sewage, fire extinguishing, electrical systems, and various automation solutions. Ygle also provides essential services such as cleaning, security, routine maintenance, equipment replacement, and rubbish removal. The company serves diverse sectors, including office, retail, and industrial spaces, focusing on complex HVAC and engineering solutions. As of September 2020, Ygle operates as a subsidiary of Sol Baltics Ou, with its operations guided by Founder and Chairman Vytautas Šniukšta.

UAB Kelprojektas

Acquisition in 2011
UAB Kelprojektas is a transport infrastructure engineering company based in Kaunas, Lithuania, established in 1956. The company specializes in the design and engineering of transport communications, including roads, streets, intersections, railways, bridges, and tunnels. Its services extend to the planning of public buildings, utility networks, and landscaping projects. Additionally, UAB Kelprojektas conducts geological exploration and provides geodesy and land-use planning services, which encompass topographical surveys and cadastral measurements. The company also engages in environmental impact assessments, feasibility studies, and technical supervision of projects. UAB Kelprojektas operates alongside its subsidiaries, which focus on territorial planning and technical supervision, thereby reinforcing its capabilities in the field of infrastructure development.

OfficeDay

Private Equity Round in 2004
OfficeDay is a prominent office supplies and service provider operating in the Baltic region, specifically Lithuania, Latvia, and Estonia. The company positions itself as a reliable partner for businesses, offering a comprehensive range of innovative and high-quality office products essential for fostering client growth. OfficeDay boasts the largest office product retail chain in Lithuania, with 20 locations in major and smaller cities, facilitating easy access for customers. In addition to its retail presence, the company employs various channels, including telemarketing, mail, and e-commerce, to reach clients effectively. With operations extending to 25 countries, OfficeDay is committed to delivering essential office solutions to support businesses in their endeavors.

SIA V.L.T

Private Equity Round in 2004
SIA V.L.T. is a Latvian company specializing in the production of egg packaging, specifically egg cartons and trays. Founded in 1992, it initially operated as a retailer of agricultural equipment before transitioning to egg packaging in 1998 after acquiring production equipment from Huhtamaki Oyj. The company further expanded its capabilities by acquiring additional machinery from Huhtamaki Oyj and Ecofeutre, establishing itself as the largest producer of egg cartons and trays in the Baltic states. SIA V.L.T. markets its products through retail chains in the Baltic countries and exports to Lithuania, Poland, Estonia, and the Russian Federation. The company's headquarters is located in Valmiera, Latvia.

Intrac Group

Acquisition in 2002
Intrac Group is a supplier of tracked and wheeled machines, specializing in equipment for the forestry, construction, material handling, and agriculture industries. The company provides a diverse range of machinery, including skidders, harvesters, construction equipment, motor graders, terminal tractors, rollers, and pavers. Intrac Group operates in the Baltic States, specifically Estonia, Latvia, and Lithuania, and serves various sectors such as forestry, port operations, medium-sized industries, farming, quarries, and construction. In addition to selling quality machinery, the company also offers spare parts and related services through a network of stationary workshops and mobile service vans, ensuring comprehensive support for its customers.

UAB ICECO

Acquisition in 2001
UAB ICECO produces and exports ice creams, frozen desserts, waffle cups or cones for ice cream, and fish products to customers in Lithuania and internationally. The company sells its products through AURUM, MIO, FRUIT, ESKIMO, and TIRPUKAS brands. It also owns and operates a network of stores that sells assortment of ice cream, frozen desserts, and frozen vegetables, as well as culinary products, including dumplings, stuffed potato dumplings, pizzas, and filo pastry to consumers in Lithuania.

A. Le Coq

Acquisition in 1998
A. Le Coq is Estonia’s oldest and largest drinks manufacturer, headquartered in Tartu. It produces a wide range of alcoholic and non‑alcoholic beverages, including beer, cider, low‑alcohol drinks, juices, waters, soft drinks, sports and energy drinks, syrups, and kvass. The company holds the leading market share in beer, juice, and long drinks, and ranks second in water, soft drinks, and cider. It combines traditional production methods with innovative product development to offer consumers new, healthy flavor combinations while supporting Estonia’s drinking culture.
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