BaltCap, a private equity manager focused on the Baltics, has agreed to acquire a 70% share in automation services provider Hansab Group. Hansab has a strong presence in the Baltics, and with BaltCap’s backing, 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.
Financial terms of the transactions, which 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, have to been disclosed.
On completion, Hansab Group founder and CEO Aigar Urva will move to the supervisory board, and Janno Kallikorm, CEO of AS Hansab Estonia, will become the new CEO of Hansab Group.
