EXIT: BaltCap and Nalka sell INTRAC to United Partners Investments

16 June 2022

BaltCap Baltic Investment Fund III sells INTRAC Group, a leading distributor of machinery for forestry, construction, agriculture and industry in the Baltics, to United Partners Investments (UPI), a Baltic investment company. As a result of the transaction, UPI will acquire 100% of INTRAC Group, including shares of Nalka Invest and minority shareholders.

INTRAC Group is an exclusive importer and distributor of world-leading producers of heavy machines in Estonia, Latvia and Lithuania. The group represents John Deere Forestry, Manitou, Doosan and Case earthmoving machinery, Bomag and Massey Ferguson, as well as other brands. INTRAC Holding AB is the parent company of the INTRAC group of companies with HQs located in Stockholm.

Peeter Saks, the Managing Partner at BaltCap says that INTRAC grew more than four times through the holding period. “Developing INTRAC has been a journey of numerous achievements but also challenges including several crisis periods and market shifts. I am content that together with the company management we have succeeded in building INTRAC into the leading heavy machinery trader in the Baltic region.” Saks added he is thankful to the management team for their dedication and grit through these years.

Marko Tali, the Investment Manager at United Partners Investments, says that the INTRAC group is an attractive investment with substantial further growth potential. „Acquiring INTRAC allows UPI to create synergies between light and heavy machinery distribution market in the Baltics,” Tali added.

Carl Leijonhielm, the Managing Director of INTRAC Group, says: “From INTRAC side, we want to thank BaltCap and Nalka for the long cooperation. Over the last 20 years. we have together continued to develop the company keeping the group’s leading position in the Baltic heavy machinery business, and we are confident that we can take the company to an even higher level in cooperation with United Partners.”

The transaction has been advised by Aureus Capital Consulting. The transaction value and other details were not disclosed. Completion of the deal is subject to regulatory approvals.

About INTRAC I https://www.intrac.se
INTRAC is a leading company in the sales and service of heavy machinery, on wheels and tracks, in Lithuania, Estonia and Latvia. The group company has 13 locations with sales, spare part stocks, workshops as well as mobile service vans spread over the Baltic countries. INTRAC has approximately 250 employees, and sales in 2021 reached EUR 83 million. 

About BaltCap I www.baltcap.com
BaltCap is the largest private equity firm in the Baltics focusing on buy-out, growth capital, venture capital and infrastructure investments. BaltCap has a strong presence in all three Baltic countries, Finland, Sweden, and Poland with local offices and an experienced team. Since 1995, BaltCap has been managing several generations of private equity funds with total capital of over EUR 700 million and has completed about 100 platform investments.

Additional information:

Peeter Saks
Managing Partner

Image credit: Kristaps Ungurs/Unsplash; BaltCap 

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