We advised Livonia Partners, one of the leading private equity funds in the Baltics, and their joint venture with the target’s management in the acquisition of Stebby, the largest wellness service marketplace in the Baltics.
Stronger position in the Baltics
According to Kestutis Mackelis, CEO of Stebby, the new ownership structure will allow Stebby to strengthen its position in the Baltics market. It will also provide resources for further product and geographic expansion. “My last four years at Stebby showed me people’s increasing hunger for a modern and convenient way to consume wellness. I am very excited we’ve managed to find a financial partner that shares the same vision,” says Mackelis. “The ownership change was necessary to enable Stebby to grow to its full potential. Stebby can become the convenient one-stop-shop for wellness. This vision is passionately shared among the existing Stebby team, all of which stays to keep building the company further,’ he adds.
Stebby is the largest wellness services environment in the Baltics. They have more than 1,500 companies, 150,000 users, and over 2000 wellness partners. Initially started as a business-to-business wellness compensation platform, it has now been open to all users interested in health and sports services.
Livonia Partners is a pan-Baltic private equity investment firm that is managing assets of EUR 230 million.