{"id":24137,"date":"2020-09-22T12:39:30","date_gmt":"2020-09-22T09:39:30","guid":{"rendered":"https:\/\/sol.lt\/uncategorized-lv\/sol-baltics-purchases-company-baltcap-lithuania\/"},"modified":"2020-09-22T12:39:30","modified_gmt":"2020-09-22T09:39:30","slug":"sol-baltics-purchases-company-baltcap-lithuania","status":"publish","type":"post","link":"https:\/\/sol.lt\/en\/uncategorized\/sol-baltics-purchases-company-baltcap-lithuania\/","title":{"rendered":"SOL Baltics purchases a company from BaltCap in Lithuania"},"content":{"rendered":"

Press release<\/em><\/p>\n

SOL Baltics, whose headquarters are located in Tallinn, has acquired 100% of the leading Lithuanian utility system maintenance company UAB Ygl\u0117 Pastat\u0173 Valdymas from the investment company BaltCap and a small-scale investor. Following the transaction, SOL Baltics will become a company providing comprehensive cleaning and maintenance services in Lithuania with an annual turnover of 3.5 million euros and 200 employees. <\/strong><\/p>\n

The CEO of SOL Baltics, Rinel Pius, <\/strong>says the crisis year 2020 has not led to a significant decline in the sphere of cleaning services and utility maintenance: \u201cWe have now recovered from the 10\u201315 per cent decrease experienced in the summer, and we are already developing our action plans for the year 2021 at the same level as in 2019.\u201d<\/p>\n

Ygl\u0117 Pastat\u0173 Valdymas <\/strong>(YPV) is one of the largest Lithuanian utility system maintenance companies with branches in Vilnius, Kaunas, Klaip\u0117da, Panev\u0117\u017eys, and \u0160iauliai and customers in real estate management, hotels, healthcare, production, and other sectors. Previously, SOL Baltics outsourced services to YPV.<\/p>\n

\u201cNow is the right time for expansion because businesses around us are increasingly realizing that hygiene and cleanliness help keep the economy going. Cooperation with YPV and its employees seemed natural, and we definitely wanted to continue it,\u201d Pius explained the purchase decision.<\/p>\n

BaltCap\u2019s partner \u0160arunas Stepukonis<\/strong> says an important factor in in making the sales decision was that the new owners of would be strategic investors with extensive experience in the sector, a clear vision of the company\u2019s development and appropriate values. \u201cIn the last 6 years that YPV has been a part of BaltCap\u2019s portfolio, the company\u2019s business has grown enormously, and by now it has secured a position among market leaders. YPV is one of the most advanced and promising companies in the sector, boasting a professional team and a capable leader who have contributed greatly to YPV\u2019s success story,\u201d Stepukonis noted. BaltCap owned 75% of the company.<\/p>\n

The remaining 25% were held by the CEO of YPV, Agn\u0117 Grendel\u0117,<\/strong> who will now continue as the head of SOL Baltics Lithuania and will join the management of SOL Baltics. Grendel\u0117 says the merger with an international company means the expansion of business operations for the company and its team. \u201cSOL Baltics has become a figure to be reckoned with in the Lithuanian sector of cleaning services, and its customers have been requesting the utility maintenance service more and more often. These are the competencies we are bringing as we join the new company,\u201d Grendel\u0117 added.<\/p>\n

In 2019, YPV\u2019s turnover amounted to 2 million euros, and it had 50 employees. In the process of merging with SOL Baltics, the financial advisor to the parties in the M&A transaction was Aureus Capital Consulting O\u00dc, and the legal advisor, KPMG Law. The BaltCap investment company was consulted by Ellex.<\/p>\n

The sale transaction was closed today, on 22 September, and will result in SOL Baltics becoming the leading provider of cleaning services and utility maintenance services in Lithuania. SOL Baltics the market leader in the sector of cleaning services and utility maintenance in Estonia and Latvia.<\/p>\n

Further information:<\/strong>
\nRinel Pius
\nCEO of SOL Baltics
\nTelephone: 510 1413<\/a>
\nrinel.pius@sol.fi<\/a>
\nwww.sol.ee<\/a><\/p>\n

SOL Baltics O\u00dc<\/strong><\/p>\n

SOL Baltics provides cleaning, safety and amenity services for workplace environments and public spaces, including real estate management and laundry services, in Estonia, Latvia and Lithuania. The company employs 2300 people, and its annual turnover amounts to nearly 30 million euros.<\/em><\/p>\n

SOL Baltics is a part of SOL Group, one of the oldest and largest family-owned enterprises in Finland. SOL was established in 1848 and is currently run by the fourth generation of the family. SOL Group had a total turnover of 326 million euros in 2019 and more than 14,000. The company operates in Finland, Sweden, Denmark, Baltics, and Russia.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Press release SOL Baltics, whose headquarters are located in Tallinn, has acquired 100% of the leading Lithuanian utility system maintenance company UAB Ygl\u0117 Pastat\u0173 Valdymas from the investment company BaltCap and a small-scale investor. Following the transaction, SOL Baltics will become a company providing comprehensive cleaning and maintenance services in Lithuania with an annual turnover […]<\/p>\n","protected":false},"author":7,"featured_media":23492,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[37],"tags":[],"class_list":["post-24137","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"acf":[],"_links":{"self":[{"href":"https:\/\/sol.lt\/en\/wp-json\/wp\/v2\/posts\/24137","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sol.lt\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sol.lt\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sol.lt\/en\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/sol.lt\/en\/wp-json\/wp\/v2\/comments?post=24137"}],"version-history":[{"count":0,"href":"https:\/\/sol.lt\/en\/wp-json\/wp\/v2\/posts\/24137\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sol.lt\/en\/wp-json\/wp\/v2\/media\/23492"}],"wp:attachment":[{"href":"https:\/\/sol.lt\/en\/wp-json\/wp\/v2\/media?parent=24137"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sol.lt\/en\/wp-json\/wp\/v2\/categories?post=24137"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sol.lt\/en\/wp-json\/wp\/v2\/tags?post=24137"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}