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TGS Baltic advised Livonia Partners, a private equity investment firm, in the acquisition of a 33% stake in UAB Freor LT from Mezzanine Management. TGS Baltic Partner Marius Matonis, Associate Partner Aurimas Pauliukevičius and Associate Andrius Voska provided full scope advice to the client, including conducting legal due diligence in several jurisdictions, entering into the share purchase and shareholders’ agreements, assisting in obtaining regulatory approvals and other issues.
After the sale of the stake, UAB Freor LT will focus on capacity expansion, process optimization and global market penetration. Freor LT is a leading producer of commercial refrigeration equipment in the region offering state-of-the-art refrigeration solutions to retailers across Europe. It is headquartered in Lithuania and owns subsidiaries in Belarus, Poland, and Russia.
Livonia Partners is a private equity investment firm based in the Baltics, currently managing €83 million as part of Livonia Partners Fund I and Livonia Partners EIF Co-Investment Fund. Livonia was partly originated through the Baltic Innovation Fund (BIF), a common initiative of the Republic of Estonia, the Republic of Latvia, the Republic of Lithuania, and the European Investment Fund. The investment in Freor LT is the fifth for Livonia Partners Fund I, whose strategy is to invest in medium-sized companies in the Baltics that are professionally-managed and growing.
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