BaltCap expands its reach in Latvia’s social sector by acquiring an elderly care operator

BaltCap Private Equity Fund III (BPEF III) has signed an agreement through its portfolio company, Adoro SIA, to acquire a 100% stake in Senior Baltic SIA, which operates the Latvian elderly care facility, Dzintara Melodija. The add-on investment is part of Adoro’s strategy to build a leading social and healthcare chain over the next five years, with a total of more than 500 beds, providing high-quality care services in Latvia.

The completion of the deal is subject to the approval of the Latvian competition council.

Dzintara Melodija is a modern elderly care home with 202 beds that opened in Riga in 2013. The 4-floor facility, which covers an area of 5,830 m2, was purpose-built to provide elderly care.

COBALT provided full legal support of the transaction, including the preparation and execution of the acquisition. The team was led by Partner Guntars Zīle and Senior Associate Diāna Zepa and included Senior Associates Juta Meimere, Ivo Maskalāns, Agnese Gerharde and Associates Gabriela Šantare, Vadims Zvicevičs and Artūrs Valderšteins.

BaltCap entered the Latvian social and healthcare sector in November 2022 by acquiring the social care centre Dzīves Ābece in Riga.

BaltCap announcement.