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INVL Baltic Sea Growth Fund Acquires Majority Stake In Eco Baltia

Baltic region private equity investor INVL Baltic Sea Growth Fund has purchased a controlling stake - 52.81% - in Eco Baltia, an environmental management group for plastic recycling and waste collection in the Baltics. The deal sees the European Bank for Reconstruction and Development retain their 30.51% stake in Eco Baltia and Maris Simanovičs, Chairman of the Management board of SIA Eco Baltia grupa, retain a 16.68% stake (via Penvi Investment Ltd). Both parties have subsequently entered into a shareholders’ agreement with the Fund.

Vytautas Plunksnis, Partner at INVL Baltic Sea Growth Fund, said“We plan to invest significant capital into Eco Baltia’s recycling capabilities and establish it as a clear market leader of the circular economy in the Baltic region, through the delivery of high quality and sustainable recycling services. The world we live in is now using more resources than the planet can produce and so reusing what we have in a sustainable manner is of critical importance. We intend to focus on food grade recycled plastics (rPET) capacities expansion that will ultimately contribute to a reduction in carbon footprint and promote environmental sustainability.”

Vytautas Plunksnis and Deimantė Korsakaitė, Partners at INVL Baltic Sea Growth Fund, will join Eco Baltia’s supervisory board together with an independent member and waste management expert, Jurgita Petrauskienė. The EBRD will be represented by Peter Hjelt and Maris Simanovičs by Gints Pucens.

Korsakaitė said: “Investing in proven, leading Baltic companies which clearly demonstrate further growth potential is one of the Fund’s core investment themes. Eco Baltia sits at the forefront of the circular economy for the Baltic region and therefore meets this criterion. This deal represents the third company to join our portfolio and will allow us to capitalise on the growing importance of environmental concerns by focusing on both recycling and lifestyle sustainability enhancement measures.”

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