VILNIUS - BaltCap, the leading private equity and venture capital investor in the Baltic States, has acquired a controlling interest in Kelprojektas, the leading transport infrastructure engineering company in Lithuania, reports news agency LETA. BaltCap Private Equity Fund, advised by BaltCap, has acquired more than 90 percent of Kelprojektas’ shares from the company’s former shareholders, including two road construction companies and a financial investor. The Lithuanian Competition Council has granted permission to acquire up to 100 percent of shares.
“Kelprojektas is the leading player in the sector with unparalleled experience, a highly qualified engineering team and good prospects in the market,” says Sarunas Alekna, the associate director at BaltCap.
According to Alekna, Kelprojektas has potential for further expansion in Lithuania and neighboring countries. The company has already made its first steps in Poland and is evaluating the possibilities to enter the market in Latvia and Belarus. “We believe that with BaltCap’s financial backing, Kelprojektas will be able to capitalize on existing experience and achieve the best results,” says Algimantas Medziausis, the managing director of Kelprojektas.
Kelprojektas is the largest transport infrastructure engineering company in Lithuania, designing roads, railroads, bridges, transport communications, public buildings and infrastructure networks. Unaudited company sales revenues increased by 23 percent last year to reach 8.0 million euros, compared to 6.5 million euros in 2009.
BaltCap is the leading dedicated private equity and venture capital investor in the Baltic States, having worked in the region since 1995. BaltCap has made 42 investments, out of which 24 are now fully exited.