LitCapital sells MPG to PE-backed Affidea

It is the fifth exit from LitCapital I, a €25m fund that was launched in 2010 to make investments of €1-3m in Lithuanian businesses.

Revenues increased nearly by 50% and EBITDA grew by 5x during the ownership of LitCapital, according to a statement.

The acquirer is backed by Waypoint Capital (formerly Ares Life Sciences), which acquired the company from Montagu Private Equity in 2014.

Previous funding
LitCapital invested in MPG in 2015 and supported the bolt on of Lithuanian laboratory Endemik.

Company
MPG was founded in 2010 and is headquartered in Vilnius. It operates eight clinics across Lithuania providing services such as vaccination, laboratory diagnostics, radiology examination and GP consultation. It employs 180 people.

Advisers
Vendor – Swedbank Investment Banking Lithuania (corporate finance); TGS Baltic (legal).
Acquirer – Walless (legal).

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