Livonia Partners

Livonia Partners is a private equity firm focused on making buyout and growth capital investments primarily in small to mid-sized companies within the Baltic region, specifically Estonia, Latvia, and Lithuania. Founded in 2013 and headquartered in Rīga, Latvia, the firm has additional offices in Tallinn and Vilnius. It targets investments in a variety of sectors, including manufacturing, services, consumer products, healthcare, and technology. Livonia Partners typically invests between €3 million and €15 million in companies with an enterprise value ranging from €10 million to €100 million, favoring majority ownership but also considering minority stakes. The firm prefers to engage with companies that employ fewer than 500 people and is open to co-investing in larger transactions. With a skilled team that has extensive business experience across Europe and America, Livonia Partners is committed to fostering growth in the Baltic business landscape.

Kristīne Bērziņa

Co-Founder

Ernests Bordans

Associate, Interim CFO

Rain Lõhmus

co-founded and Founding Partner

Mindaugas Rapolas

Investment Partner

Adolis Tarasevicius

Senior Associate

Mindaugas Utkevicius

Founding Partner

Kaido Veske

Founder

Karlis Vikis

Associate

Past deals in Estonia

Hortes

Acquisition in 2016
Hortes, founded in 2004 by Trigon Capital AS and Finnish investors, operates the largest modern home and garden center in Estonia, located in Harjumaa. The company is recognized nationwide for its spacious glass-structured premises that provide an inspirational shopping experience. Hortes offers a diverse range of products, including seasonal flower plants, trees, orchids, wooden flower boxes, wicker baskets, and clay pots, allowing customers to enhance the aesthetic appeal of their homes.

Baltic Ticket Holdings AS

Private Equity Round in 2007
Baltic Ticket Holdings AS is a ticket distribution company operating across Estonia, Latvia, Lithuania, and Belarus, serving a combined population of approximately 7 million people. Founded in 1997 in Tallinn, Estonia, the company originated with the ticket sales for a Michael Jackson concert and has since expanded its operations significantly. It manages an extensive ticketing network that includes an online platform and around 400 physical sales points throughout the region. The company merged various ticketing operations, notably including Bilesu Serviss in Latvia and BilietuPasaulis in Lithuania, to enhance its market presence. Its in-house online ticketing system, developed since 2001, supports the management of large-scale events, such as concerts and festivals, with significant ticket sales. Baltic Ticket Holdings AS is recognized for selling the largest volume of tickets for events in the Baltics and Belarus, continuously evolving its technology to meet the demands of event organizers and enhance user experience.

Qvalitas

Private Equity Round in 2005
Qvalitas Medical Centre is a private medical centre that offers professional general and specialist service. It provides services according to the waiting list and in the volume pursuant to the contract with the Estonian Health Insurance Fund. It also offers appointment with extra charge for medical service outside waiting list, without health insurance or without the required referral. The company strives to create new and innovative healthcare services, such as health audit and various health packages, according to the wishes and needs of customers. Qvalitas Medical Centre was founded on 1996 and is based in Tallinn, Estonia.
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