We advised German state-owned commercial bank Landesbank Baden-Württemberg (LBBW) on the partial financing of the EUR 18 million modernisation of the Klaipėdos Baldai furniture manufacturing facility. The German bank provided a loan of EUR 14.3 million, while the remaining investment was financed from the company’s own funds.
Klaipėdos Baldai is part of the SBA Group, which operates in furniture manufacturing, real estate, and textile production.
According to Jolanta Grašienė, Vice President of SBA Group, the development phase was completed in January this year, and the new production line is already manufacturing furniture. “The expansion and investments have now been completed. We carried out the modernisation works without stopping production for a single day,” she added.
The project increased the number of robots at the facility by one-third, from 26 to 34, while introducing additional quality control and internal logistics systems.
Our team and services
Our team, consisting of partner Augustas Klezys and associate Dominykas Kulakas, advised the German bank on all financing-related matters, including financing documents, creditors’ agreement and security structure and perfection.
