We advised private equity fund INVL Baltic Sea Growth Fund on investing up to EUR 30 million in Grigeo’s cardboard and packaging business in several rounds.
Under the signed contract terms, the fund’s subsidiary company BSGF Salvus will acquire up to 49.99% of the shares in Grigeo investicijų valdymas, a company owned by Grigeo, in two phases. The transaction is to be completed after the terms and conditions of the agreement have been fulfilled and after the Competition Council approves the transaction.
Investment to help Grigeo strengthen its position in the Baltic market
According to Grigeo president Gintautas Pangonis, the potential of cardboard and its products market is growing. The investment will enable the company to increase sales and strengthen its cardboard business position in the Baltic market. In 2018 Grigeo’s cardboard and packaging business income increased by 7.8% – to EUR 72 million. The company currently employs 400 people.
About INVL Baltic Sea Growth Fund
Established in June 2018, INVL Baltic Sea Growth Fund invests in medium-size companies. With a target size of EUR 200 million, the fund focuses on acquiring controlling or significant minority stakes and takes an active role in the management of target companies, aiming to significantly increase their value over the long term. The fund’s investments in any one company may range from EUR 10 million to EUR 30 million.
Our services and the project team
We advised INVL Baltic Sea Growth Fund on all investment-related matters. Our team consisted of partner Mantas Petkevičius, counsel Asta Augutytė-Rapkevičienė, senior associates Inga Macijauskaitė, Lina Barniškienė and Jonas Kiauleikis plus associates Ieva Krivickaitė and Lukas Vaišvila.