Livonia Partners

Livonia Partners is a private equity firm founded in 2013 and based in Rīga, Latvia, with additional offices in Tallinn, Estonia, and Vilnius, Lithuania. The firm focuses on buyout and growth capital investments in small to mid-sized companies, primarily in the Baltic region. It targets sectors such as manufacturing, technology, consumer products, healthcare, and financial services. Livonia Partners typically invests between €3 million and €15 million in companies with an enterprise value ranging from €10 million to €100 million, preferring majority ownership but also considering minority stakes. The firm has a strong emphasis on businesses that employ fewer than 500 people and is capable of co-investing in larger transactions of up to €70 million. With assets under management exceeding €100 million, Livonia Partners is supported by a highly experienced team with a broad range of operational expertise across various industries in the Baltic region and beyond.

Ernests Bordans

Associate, Interim CFO

Rain Lõhmus

co-founded and Founding Partner

Mindaugas Rapolas

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 provides an extensive and unique range of products, including seasonal flower plants, trees, orchids, wooden flower boxes, wicker baskets, and clay pots, aimed at enhancing the aesthetic appeal of homes. Hortes is known for creating an inspirational shopping experience within its spacious glass-structured premises, contributing to its strong national brand recognition.

Ha Serv

Acquisition in 2016
Ha Serv is a leading European producer of sauna materials, finished saunas and thermo-treated wood. Our strengths are our experienced and dedicated team, extensive product range, variety of wood types and continuous product development. Our product portfolio includes: hardwood and softwood sauna materials finished elements for sauna interiors and sauna doors decking and external cladding from thermo-treated wood and Siberian larch readymade saunas for private use or for companies

Baltic Ticket Holdings AS

Private Equity Round in 2007
Baltic Ticket Holdings AS is a prominent ticket distribution company operating across Estonia, Latvia, Lithuania, and Belarus. Founded in 1997 in Tallinn, Estonia, the company initially gained recognition by selling tickets for major events, including a concert by Michael Jackson. Over the years, it expanded its operations, launching ticketing services in Latvia in 2000, Lithuania in 2008, and Belarus in 2010. The company's ticketing system integrates an online platform and a physical network of 400 sales points, facilitating access to a wide range of entertainment, sports, and cultural events. Baltic Ticket Holdings manages ticket sales portals that attract around 600,000 monthly visits and has successfully handled significant events, including the Estonian Dance and Song Festival and various international concerts. With a focus on technological advancement, the company's in-house ticketing system has been continuously developed since its inception, enabling efficient management of diverse events and organizers in the region.

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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