We assisted the INVL Baltic Sea Growth Fund in signing an agreement to acquire Nemunas, one of the most modern treatment centres in Birštonas, and Eglės Sanatorija – one of the largest SPA and treatment centres in the Baltics. Eglės Sanatorija, founded in 1972, provides rehabilitation, rest and medical services in Druskininkai and Birštonas.
In terms of short term plans it is planned to invest in the renovation and repurpose the buildings. Not only will this increase the energy efficiency of the buildings, but it will also help to offer a number of new, innovative procedures. These planned investments will therefore help to ensure the delivery of higher quality services to clients.
The acquisition of shares will be completed after permission is obtained from Lithuania’s Competition Council. The transaction will be financed with both cash holdings and borrowed funds.
INVL Baltic Sea Growth Fund with its total size of EUR 165 million is one of the largest private equity fund in the Baltics with the European Investment Fund acting as its anchor investor.
Our services and the project team
We assisted the client on all transaction-related matters, including due diligence, negotiations and merger clearance. Our team, led by partner Mantas Petkevičius and senior associate Laura Matuizaitė, consisted of partners Daivis Švirinas and Asta Augutytė-Rapkevičienė, senior associate Edita Daukšienė, associates Gabrielė Raižytė, Giedrė Čitavičiūtė, Auridas Litvinas, assistant lawyer Danas Šniūtė and others.