INVL Baltic sea growth fund buys 52.81% share of Eco Baltia

The private equity investment fund “INVL Baltic sea growth fund” has successfully entered into a transaction for the purchase of a controlling stake (52.81%) in “Eco Baltia”, which deals with recycling and waste management of plastic materials, the companies' representatives informed on June 30.

The transaction foresees that the European Bank for Reconstruction and Development (EBRD) will retain 30,51% of Eco Baltia shares in its ownership, while Māra Simanoviča, Chairman of the Board of Eco Baltia, will hold 16,68% of the shares through "Penvi Investment Ltd". The two remaining co-owners of the company have concluded a shareholder agreement with the “INVL Baltic sea growth fund”.

The fund's partner, Vytautas Plunksnis, said in a statement to the media that it was planning significant capital investments in the recycling capacity of "Eco Baltia". The new shareholders want to strengthen "Eco Baltia" as the leader of the Baltic region's economy. The primary objective is to extend the production capacity of PET raw materials intended to come into contact with food.

 

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