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Royalton acquires Litcargus

Royalton Capital Investors II, a private equity fund focused on making investments in Central and Eastern Europe, has acquired a 100% stake in Litcargus UAB, Lithuania’s leading ground handling company, from Cerberus Holdings Ltd.

The acquisition of Litcargus marks Royalton’s first investment in Lithuania and second in the Baltic States.

Nigel P Williams, the Managing Partner at Royalton Partners says: “The acquisition of Litcargus is fully consistent with Royalton’s strategy of taking control positions in companies active in the non-tradable space in Central and Eastern Europe. The company is involved in all aspects of ground handling, serving airlines and their customers, both passengers and freight. We look forward to working with Litcargus’ management team in continuing to provide airlines with first class ground handling support in Lithuania, with a plan to selectively expand in neighbouring countries.”

SEB Enskilda Lithuania was the sole financial advisor of Cerberus Holdings Ltd. Valerij Judin, Associated Director of SEB Enskilda Lietuva noted that “we ran a very competitive sale process and today we welcome a reputable financial investor entering Lithuania. This is a clear sign in the recovering M&A market of Lithuania and we are more than certain that the trend will continue.”

Royalton was advised by Tark Grunte Sutkiene (legal), PricewaterhouseCoopers (financial and tax) and Exambela Consulting (commercial). Cerberus Holdings Ltd. was advised by Motieka & Audzevičius (legal).

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