Baltic buyout firm Livonia Partners has acquired the Latvian and Lithuanian operations of network and IT security services provider Santa Monica Networks (SMN) in a buyout.
SMN's management team will reinvest in the business for a significant stake alongside Livonia, which will take a controlling stake.
In a parallel transaction, Finland-based corporate Elisa Corporation will acquire the Finnish and Estonian divisions of SMN.
SMN is the third deal completed by Livonia from its maiden fund, a 2015-vintage vehicle that raised €70m at first close on its way to its €85m target.
SMN is a provider of IT security and network services in the Baltic region and Finland.
The group provides network integration, design and installation, as well as IT security and data centre services.
In 2016, the Latvian and Lithuanian operations of SMN had €23.4m in combined revenues and employed a staff of 52.
Livonia Partners – Kristīne Bērziņa, Mindaugas Utkevičius (partners).
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