BaltCap backs Amateks with €800,000

The funding will help the company modernise and expand its production capabilities and products, as well as attract new clients. The GP told unquote" it saw growth in the industry and was attracted to the business's client base and its potential to grow sales and attract new clients. BaltCap had followed Amateks for a year and a half before investing.

Company
Based in Riga, Amateks was founded as a subcontracting company manufacturing metal accessories for Schneider-Electric subsidiary Lexel Fabrika in 2002. It now offers lathing, milling and welding services and works in collaboration with global players including Schneider Electric, Certex, Concentric AB and Plockmatic.

Last year Amateks posted a €1m turnover and generated a €150,000 EBITDA. The company employs 20 people.

People
Astra Neimane is investment director at BaltCap. Aivars Gudakovskis is the owner of Amateks and chairman of the board. Alvis Vagulis has been brought in to strenghten the supervisory board.

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• Expansion
• CEE
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• Latvia
• Baltcap Management Ltd