Livonia Partners announced acquiring majority stake in Ha Serv as the fund’s first investment. Ha Serv is a leading manufacturer of wooden sauna components, ready-made saunas and thermal wood products. The company serves customers in more than 25 countries worldwide.
Livonia Partners recently announced the launch of its first fund - Livonia Partners Fund I - for investing EUR 70 million into companies in Estonia, Latvia and Lithuania. The fund’s investors include the European Bank for Reconstruction and Development, the European Investment Fund and finance development agencies of the Baltic countries.
The management team of Ha Serv will continue as minority shareholders holding a significant stake in the company. COBALT assisted the management in negotiating shareholders agreement and related documents with Livonia Partners. Partner Kristel Raidla-Talur was responsible for the assignment.
Press release by Livonia: http://livoniapartners.com/news