Private equity firm BaltCap has acquired a controlling interest in Kelprojektas, a leading transport infrastructure engineering company in Lithuania.
BaltCap Private Equity Fund advised by BaltCap has acquired more than 90% of Kelprojektas’ shares from the company’s former shareholders including two road construction companies and a financial investor. Lithuanian Competition Council has granted permission to acquire up to 100% of shares.
"Kelprojektas is the leading player in the sector with unparalleled experience, highly qualified engineering team and good prospects in the market,” says Ðarûnas Alekna, Associate Director at BaltCap.
According to Alekna, Kelprojektas has potential for further expansion in Lithuania and neighbouring countries. The company has already made first steps in Poland and is evaluating possibilities to enter the market in Latvia and Belarus.
“We believe that with BaltCap’s financial backing Kelprojektas will be able to capitalize on existing experience and achieve best results,” says Algimantas Medþiauðis, the Managing Director of Kelprojektas.
Kelprojektas is the largest transport infrastructure engineering company in Lithuania designing roads, railroads, bridges, transport communications, public buildings and infrastructural networks. Unaudited company’s sales revenues increased by 23% last year to reach EUR8.02 million compared toEUR 6.55 million in 2009.
