Livonia Partners

Livonia Partners, established in 2013, is a private equity firm headquartered in Riga, Latvia, with offices in Tallinn, Estonia, and Vilnius, Lithuania. The firm specializes in buyout and growth capital investments, focusing on small to mid-sized companies in the Baltic region, particularly Estonia, Lithuania, and Latvia. Livonia Partners invests between €3 million and €15 million per company, targeting enterprises valued between €10 million and €100 million, and employs a co-investment strategy for larger transactions up to €70 million. The firm prefers majority ownership but also considers minority investments, and typically invests in companies with fewer than 500 employees. Livonia Partners' investment focus spans various sectors, including manufacturing, services, consumer, financial, technology, media, and healthcare. The firm is managed by an experienced, multi-disciplinary team with extensive business-building expertise in the Baltic countries and beyond.

Kristīne Bērziņa

Co-Founder

Ernests Bordans

Investment Partner

Mindaugas Rapolas

Investment Partner

Adolis Tarasevicius

Senior Associate

Mindaugas Utkevicius

Founding Partner

Karlis Vikis

Associate

Past deals in Baltics

Telema

Private Equity Round in 2024
Telema is the leading EDI and e-invoicing operator in the Baltic States, offering IT solutions.

FREOR

Private Equity Round in 2018
FREOR LT is a manufacturer of commercial refrigeration equipment based in Vilnius, Lithuania, specializing in energy-efficient and environmentally friendly solutions for retailers, including supermarkets and hypermarkets. The company offers a diverse range of products, such as remote, semi plug-in, and plug-in cabinets, serve-overs, and freezers, aimed at enhancing food sales while minimizing environmental impact. With a presence in over 55 countries, FREOR operates through an extensive network of more than 35 representatives. The company prioritizes sustainability and innovation, which is encapsulated in its philosophy of "Thinking Green." FREOR maintains high manufacturing standards, certified by ISO 9001, ISO 14001, and ISO 50001, reflecting its commitment to quality management, environmental management, and energy efficiency. The company's modern, energy-efficient facility spans 20,000 square meters, reinforcing its dedication to responsible business practices.

Santa Monica Networks

Acquisition in 2017
Santa Monica Networks has been working on developing and maintaining data transmission network solutions since 1989, offering corporate networking between the Baltic States, as well as solutions for data security, unified communications, optical networks and contact centers. SMN operates in the Baltic States and Finland, employing a total of 80 IT experts and consultants. The company's customer base includes the largest Latvian companies and major Internet service providers. SMN has been operating in Latvia since 2003. SMN focuses on providing services known as SantaCare's name. Among them, Managed Services and System Integration Services are most popular with leading global solutions, including Cisco, HP, Microsoft, Transmode, Juniper, Fortinet, Check Point, F5, Barracuda, Allot Communications, Blue Coat, IronPort, DiGi, RSA , Trend Micro, Websense, etc.

Hortes

Acquisition in 2016
Hortes, founded in 2004 by Trigon Capital AS and Finnish investors, is the largest modern home and garden center in Estonia, located in Harjumaa. The company provides a diverse range of products, including seasonal flower plants, trees, orchids, wooden flower boxes, wicker baskets, and clay pots, allowing customers to beautify their homes. Hortes is recognized nationwide for delivering an inspirational shopping experience in spacious glass-structured facilities, which feature a broad and unique selection of items.

Baltic Ticket Holdings AS

Private Equity Round in 2007
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.

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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