BaltCap to acquire a majority stake in Hansab, the leading Baltic automation services provider
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 partner Kristjan Kalda. “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.
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Photo credit: Unsplash; BaltCap