NCH Capital sells Groglass to Kartesia in MBO

The GP sold the firm in an MBO transaction, in which Kartesia provided €50m in financing to support the firm's management team in the deal.

Groglass is expected to use the fresh funding to further develop and expand into new markets.

Company
Founded in 2004 and headquartered in Riga, Groglass is a producer of anti-reflective coatings on glass. The company posted revenues of €17m in 2017.

People
NCH Capital – Kārlis Cerbulis (head of Baltic operations).
Groglass – Alexander Sasha Kelberg (founder, CEO).
Kartesia – Jaime Prieto (managing partner).

Advisers
Equity – Oaklins M&A Baltics (M&A).

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