OpusCapita Group has signed an agreement to sell all business operations serving the local markets in the Baltic Countries to Baltcap, the leading private equity and venture capital investor in the region. The transaction consists of OpusCapita AS in Estonia and Latvia and UAB OpusCapita in Lithuania that provide printing, digitizing and distribution services as well as eServices to the local market in the Baltics. OpusCapita will keep its competence centres in the Baltics that serve customers outside the Baltics.
The plan is to complete the transaction by December 2015. The transaction is subject to the approval of the Competition Authorities. The parties have agreed not to disclose the transaction price. The Baltic companies to be divested employ in total 118 persons.
The divestment will enable OpusCapita to improve its business focus in strategic regions in Europe.
- OpusCapita's strategic focus is to grow in Europe with the aim to become the leading international provider of automated solutions. For us the outlook for the Baltic market has become limited. We wanted an investor that would be a strong owner on the local market to develop the business in this region, says Katarina Dahlbäck, Senior Vice President of OpusCapita Baltics.
- For BaltCap the Baltics is a core market and we are thrilled to enter a profitable business with many new opportunities, says Kristjan Kalda, investment director of BaltCap. Through the investment, BaltCap will participate in developing paperless economy, which fits well to our strategy.
BaltCap is the leading independent private equity firm focusing on small and midmarket buyout and expansion capital investments in the Baltic States. BaltCap has strong presence in all three Baltic countries with local offices and experienced team of 16 professionals. Since 1995, BaltCap has been managing several private equity and venture capital funds with total capital of over EUR 240 million and has made more than 60 investments.www.baltcap.com