BaltCap, the largest private equity manager in the Baltics, has agreed to acquire a 70% share in the leading Baltic automation services provider Hansab Group. Hansab has a strong presence in the Baltics, backed by BaltCap's investment and expertise, the company plans to expand outside the region and diversify its service portfolio.
Founded in 1991, Hansab develops and provides security, cash handling, point of sales, parcel handling, queuing, parking and other automation solutions and services to its B2B customers in logistics, finance, public, retail and other sectors. The company operates in Estonia, Latvia, Lithuania and Finland, with 18 offices and service points across the region.
“Hansab is an established business that has developed a high quality and efficient service model in the fast-growing area of automation,” commented BaltCap Managing Partner Dagnis Dreimanis. “We see many avenues to grow the business further, using BaltCap’s long-term experience in taking Baltic companies to international arena.”
Aigar Urva, founder and CEO of Hansab Group, added: ”During the past 32 years, we have successfully grown the company organically. Now we intend to accelerate the development and enter new fields of activity and territories. We are happy to join forces with BaltCap, a financially strong and effective partner, helping us fulfill our growth strategy.”
The transaction will be completed in the coming months subject to the approval of the competition authorities in the Baltic countries and obtaining other required permissions related to the business.
After the completion, Aigar Urva will move to the supervisory board, and Janno Kallikorm, CEO of AS Hansab Estonia, will become the new CEO of Hansab Group.
The transaction has been advised by Cobalt Legal and Sorainen. The transaction value and other details were not disclosed.
Hansab is the leading provider of automation solutions and services in the Baltics. Its service offering includes security, parcel handling and logistics, ATMs, cash in transit services, production of national identity documents, point of sales and cash handling, queue management, parking and automation. The company offers the automated traffic management system Entringo Traffic and the smart parking management system Entringo Parking internationally.
The core of Hansab’s service offering is developing sustainable business solutions and helping companies to reinvent businesses and create a meaningful impact on companies, people and the planet. In 2022 the company’s revenue reached €40 million, more than half of it generated from services. Hansab has a team of 316 professionals working in 7 companies across the Baltics and Finland. www.hansab.ee
BaltCap is the largest and most experienced private equity investor in the Baltics covering buyouts, growth, venture, and infrastructure investments. Since 1995, BaltCap has invested in over 100 companies across a wide range of industry sectors and raised aggregate capital of over €700 million. BaltCap has a team of 40 investment professionals working across Tallinn, Riga, Vilnius, Warsaw, Helsinki, and Stockholm offices. www.baltcap.com