BaltCap acquires Baltic waste management group EKT

The buyout saw the GP invest through BaltCap Private Equity Fund II, an €85m 2014-vintage vehicle.

As part of BaltCap's investment, EKT's management team will retain the remaining 25% of the group.

The GP may look to merge EKT with Ecoservice, a Lithuanian waste management company in which BaltCap acquired a 75% stake for €15m in April 2014. Managing partner Peeter Saks said in a statement that the two acquisitions would fit well together.

Plans for EKT also include continuing to grow the company organically, as well as through acquisitions.

Company
EKT is an Estonian group of companies engaged in waste management and municipal services, mainly municipal waste collection.

Headquartered in Tallinn, the group employs around 500 people and has projected revenues of €27m in 2015.

People
Peeter Saks is a managing partner at BaltCap. Argo Luude is the CEO of EKT.

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