OpusCapita Group has sold 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 consisted 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 centers in the Baltics that serve customers outside the Baltics.
The agreement to sell the operations was signed on November 11, 2015 and the transaction was completed on January 4, 2016. The parties have agreed not to disclose the transaction price. The transaction will have a positive impact on OpusCapita's January-March result 2016. The divested companies 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.